Business Startups: What Business Entity Type Protects You And Your Assets Best?

Did you know there are various business entity types that a business may register under? For example, there are corporations, limited liability companies, sole proprietorships, partnerships, and many other forms of business entities. There are also tax implications depending upon which form of business entity you select. The best one depends on your objectives. However, did you know that a general partnership puts you and your assets at significant risk?

Consider the liability implications of a partnership: Even if a partner - and not you - makes a mistake, YOU may be personally held liable as a general partner and the other party may collect a judgment from you personally. That does not seem fair, does it? This is why it is important to ensure you and your business are protected to the maximum extent of the law by selecting to organize under the proper business entity type.

In order to best protect yourself, your business, and your assets contact the Law Offices of Jacqueline A. Cobb today. Together, we will discuss the best form of business entity to fit your needs and give you maximum protection.

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