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Its often been said that if you’re going into business, the best “insurance” you can buy is to incorporate. This means that once you’ve incorporated or filed as a Limited Liability Company, you are no longer personally liable for the debts of that business. This way, even if your business amasses huge debts and goes broke, your personal estate will not be touched.

One of the things that most people don’t know, is that it's easy to form a corporation. All you need is three names, a person who will be the President and will hold one other officer’s position and a fee and you can become a corporation. You also must have a purpose for the corporation or Limited Liability Company.

Another thing that most people don’t know about forming corporations is that the Directors of the Board of Directors must meet annually for a meeting and must keep records of that meeting in the Corporate Records Book. Often times small corporations forget to meet or keep records for multiple years and in the even they are ever audited or sued, they conceivably could be without their “corporate umbrella” of protection. Therefore, we strongly urge everyone who incorporates through The Law Team to follow our simple directions and that way they will be far less vulnerable to law suits or other problems.

If you’re interested in starting a corporation, contact us by completing the Contact form or email us at intake@thelawteam.com and we’ll get you started right away.

 

 

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