Michael A. James Quoted in Huffington Post, 4 Ways to Protect Your Small Business From Common Legal Disasters
Oct. 20, 2017, Huffington Post — In this article, journalist Vicky Law wrote: The ill-informed entrepreneur, focusing on raising capital and kicking off operations with the desire to make a profit, often neglects other aspects of starting a business.
Legal-proofing your business, such as forming a corporation or LLC, is a key precautionary measure that shouldn’t be neglected—its absence could jeopardize your businesses success. Doing the right thing by staving off shady deals is not enough to run a legitimate business. You could run into trouble with the law due to negligence. And when that happens, it might be too late to do the right thing.
Sole proprietorship may be the simplest form of business operation due to the absence of cumbersome legal requirements for operations. But it comes at a price: you are liable for your business debts and misconduct. In the event of litigation, both your business and personal assets can be taken away if you lose.
“It is best to explore and understand the various business structures, such as corporations, limited liability companies, and limited liability partnerships and select the appropriate structure for your business at its present stage.”
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