Legal Question in Business Law in California

You need a limited liability entity, such as a corporation or limited liability company, to protect your individual assets from your business assets, or even some business assets from other business assets as well. There is a caveat here, however. Lenders, landlords, and other financial parties will usually require your personal guarantee in addition to the limited liability entity's signature, so protection from financial exposures is usually fanciful. If your business operation has risks, i.e. potential major damage to persons or property that cannot be reasonably insured, e.g. giving helicopter rides, then limited liability is of potentially great value. There are costs associated with organizing and maintaining limited liability entities that need to be taken into account.

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The above material does not constitute legal advice and should not be relied on. It does not create an attorney-client relationship. Each locality has differing laws. Each matter has differing facts. A legal matter cannot be satisfactorily resolved without a comprehensive review and analysis of all the unique facts and laws at issue by an able attorney. Your matter may result in a loss of rights if you do not timely retain such an attorney.