Are you the sole owner of a business but have not formed a corporation or a limited liability company? Then you are likely a Sole Proprietorship!
While a Sole Proprietorship does not offer any noteworthy advantage over a distinct legal entity such as a corporation or a limited liability company, an owner must be careful! There are significant disadvantages to operating as a Sole Proprietorship. The largest potential pitfall lies in that the owner and the sole proprietorship are usually viewed as one and the same. The owner of a Sole Proprietorship is personally responsible for the taxes, lawsuits, and other liabilities of the business.
We can help you design a business structure that is as simple to operate as a Sole Proprietorship, but that also offers a liability shield to defend the owner’s personal assets against business related liabilities.
When starting and operating a business, it is important to build a solid legal foundation as a protection for you, your family, and your clients. Fresh Legal Perspective can provide legal counsel and practical insight when deciding the best way to set up your business. Call or e-mail us today to schedule an appointment and get to work on building a better foundation for your business.
This portion of the site is for informational purposes only. The content is not legal advice.