LLC: Outside and Inside Liability

In my last blog I discussed dreaded idea of being found liable for some injury or harm caused to another person.  Liability means your assets, or your company’s assets, are going to be used to make the harmed individual whole.  In other words, you are going to pay for the injury.  Broad exposure to unlimited…

Limited Liability Companies

Arkansas Limited Liability Companies Part 1 Have you ever been sued?  Have you ever feared you were going to be sued?  Have you thought about what you might do to protect your assets in the event of a lawsuit?  Being found liable is a dreaded event in most situations because it could bankrupt you. Smart…

What is a LLC?

Liability shield of a LLC Like corporations, LLCs provide their owners—called “members”—with a strong statutory liability-shield that protects their personal assets from claims against their business.  Indeed, the LLC shield is arguably stronger than the corporate shield. Management structure of a LLC The default management structure of LLCs is much simpler than corporations.  The management…