The highest level of risk falls on those who think they are immune from litigation. They don’t plan, they don’t prepare and then they are hit with a devastating lawsuit which costs them and their families everything.
Imagine everything you’ve worked for on the brink of collapse, sleepless nights, endless depositions, and deep pocket lawyers. Win or lose, most small businesses do not recover from a lawsuit.
The greatest risk is to small business owners who fail to utilize the asset protection provided by a properly structured business entity such as a Corporation or Limited Liability Company. As a Sole Proprietor or Partnership, your personal and business assets are on the line.
Sit down and make a list of all your assets....house, cars, retirement, savings, college accounts, equipment and inventory. When you look at the big picture do you really feel like rolling the dice, crossing your fingers and hoping that the next knock on the door isn't a process server?
A list of things that can make you and your family a target for a lawsuit: