“Why do I need to create multiple entities to protect my assets?” Steve Pierce, owner of Pierce Floral Shops, asked. “I already have all of my business interests in a Limited Liability Company. Doesn’t that protect me and my business?”
The answer provided by his lawyer was about what you would expect. “Yes. And no.”
Putting all [...]
Posts Tagged ‘liability protection’
Protecting Your Nest Egg
Posted on March 2nd, 2009 by Bay Area Business Sales
Filed under: Exit Strategy, Increasing & Preserving Business Value
Putting All of Your Eggs in One Basket
Posted on February 25th, 2009 by Bay Area Business Sales
Filed under: Business Continuity, Exit Strategy, Increasing & Preserving Business Value, Personal Wealth, Uncategorized
We have all heard the old proverb that it’s dangerous to put all of your eggs in one basket.” But does the proverb apply in the world of business ownership? Specifically, is it a valid warning or just a worn-out cliché? It seems to make good sense to concentrate all of your business effort and [...]
Protecting Business Assets
Posted on January 29th, 2009 by Bay Area Business Sales
Filed under: Exit Strategy, Increasing & Preserving Business Value
To engage in Exit Planning, you must have a business to exit. Exit Planning assumes that the better the business, the easier and more successful the exit. Exit Planning also assumes that good businesses are not only profitable and well managed, but that they are protected from liability risks. Failing to protect your business value [...]