While inexpensive to set up, a general partnership, potentially saddles the partners with big personal liability. As your business grows, consider a business structure that limits liability for owners, such as a limited partnership, limited liability company or corporation. Pros and cons of a general partnership Here are some of the pros and cons to […]
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How to Protect Your Business From a Lawsuit
As a small business owner, you face the risk of a lawsuit every day. It can cost money, time, your reputation and cause stress. Lawsuits can also put some companies out of business. It may not be possible to avoid every legal claim against your business, but it’s important to limit your risk of a […]
If you own a small business, either alone or with partners, consider forming a limited liability company.
If you own a small business, either alone or with partners, consider forming a limited liability company. With an LLC, your personal assets are protected from business creditors and from business-related lawsuits. At the same time, you maintain flexible management and are taxed only on your share of the profits. Consult a business formation attorney […]
Starting a Business: Your Complete How-to Guide
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7 Steps to Selling Your Business
Identify why you want to sell your business and make sure it’s ready to be sold. Take the time you need to prepare your business for sale, determine the value of your business, and consider hiring a business appraiser. Decide whether you want to hire a broker or negotiate the deal yourself. Once you find […]