BUSINESS LAW TIP: The primary reason to form a Limited Liability Company (LLC) is to protect your personal assets! If you do not follow the legal formalities then you will lose your protection. As a practical example, whenever you sign a contract or legal agreement, always include the name of the company and your official title within the LLC, such as “member”, “manager”, “president”, or “chief executive officer”, etc. If you only sign your individual personal name, then you may be personally on the hook for the debts and obligations that would otherwise belong solely the business. You certainly do not want to “personally guarantee” the obligations on behalf of the business. Doing so would expose your personal assets to satisfy any creditors or judgments. That is, your real property, such as your residence or house, and your personal property, such as your car, and other personal assets can be garnished and seized to satisfy the business liabilities, debts, and obligations. It is important to work with an experienced attorney to be legally protected! *** Have a question or comment? Leave it below! *** More Info: https://ift.tt/3qX2noP Telephone: +1(310)498-2750 Email: [email protected] *** #businesstip #legaltip #lawtip #businesslawtip #businesslaw #lawyer #attorney #businesslawyer #businessattorney #llc #limitedliabilitycompany #lawfirm #thesterlingfirm #justinsterling

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