Even if everybody knows your business you still have the corporate peotection if any of those nice folks decide to sue or take other action against the owner of the properties-your corporation(s). Bill Bronchick has some good information on running a corporation correctly so that you are also protected against claims by others that the corporation is just a shell for you to hide behind.
I’m working an area that has 3 towns of approximately 3,000, 800, and 700 people. Everyone knows everyone’s business!!!
Therefore, I see no reason to become a corporation or do any of those evasive things I see talked about on this site. What suggestions do you have to protect me from those who would sue me?
Posted by Bill K. (AZ) on March 14, 2000 at 17:22:55:
NB,
In my opinion, it’s even MORE important to utilize asset protection strategies when everyone knows your business. You need to implement some strategies that keep them from getting to all of your business too!