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Business Entity Limited Liability Company Requirements  Form

Business Entity Limited Liability Company Requirements Form

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okay why is personal liability a factor for selecting a business entity honestly this is probably the most uh concerning or most important issue for most individuals in small businesses when selecting a business entity personal liability means that you are subject to liability your personal assets your home your bank accounts your vehicle etc they are subject to attachment or reached by creditors in the event of a business debt or business tour etc so personal liability protection in a business entity protects an individual from personal liability that is their personal assets are not subject to attachment or within the reach of creditors of the business now certain business entity types allow for limited personal liability of its owners while other business entity types the personal liability of the individual is one or the same as that of the business entity that's the case in sole proprietorships and partnerships where business entities such as limited liability companies or corpora

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