e with, for example, tells his clients that an LLC protects business owners from the worst case scenario—which in his mind is a “slip and fall” accident on the business property.With an LLC as the business owner, so says my attorney friend, the “worst case scenario” is liquidation of the LLC. That liquidation means the people who own the LLC wind up with nothing—which isn’t good. But all the owners lose is what they’ve invested in the LLC.In comparison, without an LLC, the business owner’s “worst case scenario” if there’s a “slip and fall” accident is that the owner can lose almost everything they own. In other words, the business owners could lose not only their investment in the business but many other assets as well.Let me issue a caveat here, however. You may not get as much legal liability protection from an LLC as you want or hope. Say, for example
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mbt outlet shoes, unfortunately, you happen to drop a hammer onto a customer’s head during the roofing project. Your LLC probably won’t protect you from that sort of tort liability. In other words
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