Protect Your ASSets in Business
?>
Download eBooks and Software
 Fully Verified Winning System Since 1999 & Vip Club Picks!
Winning Sports Picks & Predictions By Zcodesystem.com - Nhl, Nfl, Mlb And Nba Predictions And Picks From The Best Experts In The Industry + Fully Automated System Proven Since 1999 Awesome Conversion 5.26% And Recurring 60% Commission!
The Lotto Black Book
This Radical Approach To An Online Sales Letter Converts In The 3-5%... We've Never Seen Something Like This Since The Early Days Of 2004-2005 And I'm Sure You Haven't Either... We Convert More Than Our Competition And We Pay Out More... Try It!
Paleo Recipe Book - Brand New Paleo Cookbook
Brand New Paleo Diet Cookbook With Over 370 Recipes. Pays 70% Commission On This High-quality, Easy To Sell Product. Get Banners And Promotional Material At Http://paleorecipebook.com/affiliates.html
Articles > Business and FinanceProtect Your ASSets in Business
by: Stephen Bucaro Many people are starting an online business without a thought about the danger this may pose to their personal assets. The type of protection you need depends upon the nature of your business and the amount of your personal assets. If you have no personal assets, you probably don't need much protection. They say "you can't get blood from a turnip". Hey, if someone wants to take over your credit card debt, they are welcome to it! But if you do have investments, or own a home, and someone sues your business, they could take your personal assets. If you do not incorporate your business, by default it is a "sole proprietorship". This means your business is YOU and your assets are at risk. If your product is something like greeting cards, then you are not extremely vulnerable to a lawsuit. You would think it would be difficult for someone to be harmed by a greeting card, but someone might interpret the prose on the card as personal character defamation, or they might get a paper cut from the card. Remember a few years ago when a lady sued McDonalds after she burned herself by placing a cup of hot coffee between her legs? If your product is a food item or a physical object, you could be especially at risk of a lawsuit. The list below provides some steps you should take to protect yourself if you run a business. 1. Incorporate your business. A corporation is treated like a separate individual. If the corporation is sued, your personal assets cannot be taken. You don't need to pay a lawyer $1000 to file the papers to incorporate your business. You can do it yourself for about $50. 2. Post a disclaimer on everything you make. Your disclaimer should include a phrase like; "you do not make any warranties of merchantability or fitness for a particular purpose, either expressed or implied. By using this material, the user assumes complete responsibility for any and all damages resulting from that use." 3. Provide a "limited warranty" that defines the specific things that you guarantee about your product. If you don't, then your product is subjected to the default general "warranty of merchantability". Basically an unconditional guarantee. 4. If mis-assembly or misuse of your product might cause damage, then you need to provide complete instructions. Clearly state the proper use of the product and place a warning about misuse of the product. 5. Place large clear warning labels on your product and the packaging. The presence of warning labels has protected many businesses from large legal settlements. 6. Write a complete manufacturing specification for your product. Many lawsuits are based on the presence of a "manufacturing defect". Although a specification can work against you, if you don't have a manufacturing specification, that in itself is evidence of negligence. Don't jump into starting a business without taking steps to protect your personal assets. A business failure is a sad thing, but a business failure where you also lose your personal assets is a tragedy. And by the way - I make no warranties of merchantability or fitness for a particular purpose, either expressed or implied. By using this material, the reader assumes complete responsibility for any and all damages resulting from that use.
Permission is granted for the article below to forward, reprint, distribute, use for ezine, newsletter, website, offer as free bonus or part of a product for sale as long as no changes are made and the byline, copyright, and the resource box below is included. About The Author
Copyright(C)2004 Bucaro TecHelp. To learn how to maintain your computer and use it more effectively to design a Web site and make money on the Web visit bucarotechelp.com To subscribe to Bucaro TecHelp Newsletter Send a blank email to subscribe@bucarotechelp.com |
?>
News on Business and Finance
The Business Finance Store Discusses the Effects of Business Credit on Personal Credit
The Business Finance Store discusses some of the potential repercussions of business credit on a business owner’s personal credit.Santa Ana, CA (PRWEB) May 22, 2012 A recent study by Pepperdine University and Dun & Bradstreet Credibility Corp. showed that most small businesses tend to get funding through traditional channels, the Washington Post reported. Seventy-one percent of small business ... The Business Finance Store Discusses Small Business Debt Collection
The Business Finance Store discusses some strategies for small business debt collection.Santa Ana, CA (PRWEB) May 23, 2012 Wonga, a high profile UK-based short-term lender, is being criticized by the British Office of Fair Trading for its debt collection practices, the BBC reported. One such debt collection tactic included suggestion that the debtor committed fraud and would be reported to the ... Canadian Business Eyeing Asia, Mexico, Brazil Like Never Before
Yet mood for expansion rests on stable economic growth at homeMISSISSAUGA, ON, May 23, 2012 /CNW/ - Federal Finance Minister Jim Flaherty's persistent coaxing of Canadian business to diversify international ... The Business Finance Store Discusses Business Incubators
The Business Finance Store discusses business incubators and how entrepreneurs can find the right one to develop their ideas into a successful business.Santa Ana, CA (PRWEB) May 20, 2012 Pinterest, the online virtual pin board, raised $100 million in a round of financing this week, The Wall Street Journal reported. The venture-capital funded tech startup is reportedly valued at $1.5 billion ... Equipment Leasing and Finance Association’s Survey of Economic Activity: Monthly Leasing and Finance Index
The Equipment Leasing and Finance Association’s Monthly Leasing and Finance Index , which reports economic activity for the $628 billion equipment finance sector, showed overall new business volume for April was $6.1 billion, up 20 percent from volume of $5.1 billion in the same period in 2011.
|
