By: Daniel A. PerryUnfortunately, it depends. If you have a Limited Liability Company (LLC), owners (called members) are generally not liable for the debts and liabilities of the LLC. For example, if your company was sued for $25,000.00, the other party could only collect from the assets of the LLC. The other party could not […]
By: Daniel A. Perry An LLC, which stands for limited liability company, is one of the most popular types of business entities because of its ease in formation. In general, the members of an LLC are not held personally liable for the debts and liabilities of the company. An LLC is formed upon filing Articles of […]
By: Daniel A. Perry “Lawyers are seldom loved but often needed.” This famous quote is as true today as the day it was uttered. I often receive calls from clients about their businesses being sued. Usually, it is regarding a contract dispute. Or a state regulatory agency has fined them for not being registered, not following […]
By: Daniel A. PerryWhen it comes to operating your business correctly, there are several legal items that require every business owner’s attention. No matter how many times I explain the importance of formation and governance of a business’s legal entity, I have discovered that a story works much better to explain the legal importance of […]
By: Daniel A. Perry Recently, I was speaking with a couple regarding their rental properties and other investment properties. This couple owned properties in the state and out of the state. In addition, they were also silent partners in a small business which was generating them a decent amount of revenue. When I asked the […]