How to limit liabilities as an owner in every

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their responsibilities in case of a liability. How to limit liabilities as an owner in every business entity. In a sole proprietorship, following the employment laws accordingly, will reduce lawsuit liabilities. Also, having business liability insurance is crucial for the sole proprietorship business to eliminate risks of bankrupt. Hiring contractors tend to limit liabilities for the company because the owner of the business is not responsible for the negligence of the contracted company. Additionally, the company structure can be changed to LLC to eliminate connections between one's businesses with personal properties. For the general partnership business, liabilities can be limited by changing the structure of the business to LLC. In addition, having strict rules that govern all partners will help to limit liabilities. Liability insurance will be useful in reducing the responsibilities of any kind of liabilities (Seaquist, 2012). In the limited business partnership, the limiting of liabilities should be done by changing it to LLC. Such a company should be sold and liquidated to invest more in corporation business that has minimal liabilities. The corporation and limited liability corporation have minimal liabilities. Therefore, I would invest more in these two companies. Moreover, adhering the legal and ethical regulation will be a step to reducing lawsuit liabilities.
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Legal Underpinnings of Business Law. 4 A future business plan. In the future, I would like to adventure in fast food Company. The business will focus on producing fast foods such as fries, burger, and soft drinks. The industry in fast food has advanced overtime. In the future, the industry will be using high technology in the processing
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  • Spring '18
  • Corporation, Legal Underpinnings of Business Law

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