Corporate Governance:Corporate governance is the set of laws that businesses must follow to make sure they are structured and run in a way that meets financial and operational standards. It also talks about things that have to do with business lawsuits. Ethical Standards:Business law establishes th...
house, and savings account if your LLC faces bankruptcy or lawsuits. However, if you fund your business with a personal asset then you can run into potential issues in maintaining asset protection. Lawyers can argue that your LLC is no longer a separate entity...
Partners remain personally liable for lawsuits filed against the business. Usually no state filing required to form a partnership. Easy to form and operate. Owners report their share of profit and loss in the company on their personal tax returns. Read More about Partnerships Sole Proprietorships ...
Small business owners in the US can incorporate in any of the 50 states. Where you incorporate will dictate several essential details, such as the laws your business must follow, how it is taxed, and how it manages lawsuits. Which state is the best one to incorporate in? Here are some ...
Pros:Provides peace of mind for clients and customers, and keeps your business protected Cons:May not cover certain types of lawsuits, such as workplace harassment or wrongful termination suits Average cost:$61/month2 Eligibility:Applicable for businesses that provide specific services; may be requir...
Choosing a Business Formation Type The right business structure depends on your specific needs, circumstances, and plans for your business. Here are some considerations to guide your decision: Liability:If you want to protect your personal assets from business debts and lawsuits, structures like LLC...
When one of the original homeowners sells their property, the restrictions are passed on to the subsequent owners. Any violations of the property guidelines can result in lawsuits and fines. Therefore, it’s important when you’re purchasing property in a development to make sure that you are ...
Get the lowdown on the different types of business insurance and what they cover. Plus get tips on who to speak to before insuring your business.
with employees often working in environments with structural instability, exposure to hazardous materials, or heavy equipment. Workers’ compensation not only ensures your team is taken care of in case of injury, but it also protects your business from potential lawsuits related to workplace injuries...
Some centuries ago, transacting business was undemanding. Two or more people would agree to make a trade, and all parties would honor their word. But in the current century, everyone is aware of the long history of lawsuits and deal-breaking, and most individuals will always choose to sign ...