| Risk Management, Personal and Business |
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sirmikey1
Full Member
Cash: $ 13.60
Posts: 67
Joined: 16 Mar 2009
Location: USA
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| Risk Management, Personal and Business |
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Hi all,
Lately I've been working to seperate personal and business risk, and would appreciate any advice you may have. My main point is to be able to protect myself from judgement or lien by seperating anything and everything possible.
When signing business contracts, many business owners will usually sign their name and then NP (non personal) beside their name.
I also noticed recently, where a business owner had opened a corporate name with his name initials, JD Adams, and he would sign that instead of his full name. Legal? Will this work? I think he may have been signing initials and NP below that.
Well, does this keep the monkey off of your back should the business
go under or there be any defaults? Any other tricks, hints, suggestions?
Thanks,
SirMikey
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Mon Mar 16, 2009 10:53 am |
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coaster
Senior Advisor
Cash: $ 1356.80
Posts: 6681
Joined: 11 Oct 2005
Location: Wisconsin
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I'm pretty sure you have to be incorporated to be absolved of any personal liability.
~Tim~
Eye Candy : Why Whimsy
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Mon Mar 16, 2009 1:38 pm |
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No-Brainer
Senior Member
Cash: $ 66.65
Posts: 907
Joined: 29 Dec 2005
Location: Oregon USA
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It's NOT that simple, even a corporate shell can be pierced by a good attorney unless you have every i dotted and every t crossed. Miss keeping the corporate minutes for a year or two and it's worthless, as many have learned the hard way.
DISCLAIMER: This is not legal advice and I am not an attorney
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Sun Apr 05, 2009 1:48 pm |
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