While lawsuit proofing is necessary for every individual, it is no less
important for small businesses and professional practices. Small businesses
are often more vulnerable to lawsuits and creditor problems than individuals
and need their own brand of financial protection. Unfortunately, few business
owners go through the advanced planning necessary to blockade lawsuits
and other inevitable financial threats that can sink their business. Business
start-ups are the products of entrepreneurs, and entrepreneurs are fueled
by optimism. They journey into business happily envisioning only the upside,
seldom the downside. Because they are success-oriented, they ignore the
possibility of failure and overlook the most obvious precautions necessary
to protect themselves and their business when trouble strikes. You must
defensively position your business enterprise as well as your personal
assets because your business will have battles and inevitable wars with
creditors and litigants. A well-fortified business always has the best
chance to survive.
No business is too small to incorporate because no business is safe from
lawsuits. Obviously, the larger enterprises are a larger lawsuit target,
but still no business, no matter how small or seemingly safe, is immune
from legal and financial disasters. In fact, the smaller the business
the more important it is to protect it, because one lawsuit can wipe out
the entire company.
There are three primary types of business structures, the sole proprietorship,
the partnership, and several types of corporations. Within these structures
many variations of the business may exist. Each state recognizes and treats
these business structures differently, and each structure offers different
levels of Asset Protection. Depending on the risk of your business it
may be helpful to utilize a combination of these structures.
If you currently own a business or are setting up a new business contact
The Presser Law Firm, P.A. for a complimentary preliminary consultation
to discuss the best business structure for you. Utilizing the expertise
of an Asset Protection Attorney to structure your business properly from
the start will save you time and money in the future.
The Presser Law Firm, P.A.
6199 N. Federal Highway, Boca Raton, FL 33487
(561) 953-1050 or e-mail