3 Reasons To Form A Legal Entity: Structuring Your E-biz The Smart Way
Like many other E-Biz owners, you may not feel inclined to structure your online business as a legal entity. Maybe you argue that your business is too small or that you only sell on eBay. Or perhaps you feel the process is too expensive. But the real question isnt the size of your business, or how much its worth. The real question is, how much can you afford to lose?
Personal Asset Protection
When youre operating as a sole proprietor, the law views you and your business as inextricably linked. Explains attorney Patrick ONeill, CEO of http://IncorporateABusiness.com, One of the biggest benefits of incorporating or forming an LLC is that your business becomes, in a legal sense, a completely separate entity from you and any other shareholders. So in the unfortunate event that your business is sued, a judgment against your business doesnt extend to your assets, other than those invested in the business. Similarly, your business creditors can only come after company assets your house, life savings, and stamp collection remain safely out of reach.
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