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Why You Need to Form a Business Entity

Why You Need to Form a Business Entity

By Nina Kaufman, Esq.

Protect your assets by forming a business entity; it’s worth the cost. Some companies can cover many of their potential business risks with insurance, but in my opinion, if you’re going into business you should form a separate entity. The risks to your personal assets and to your business growth far outweigh any advantages of sole proprietorship. Still not sold? Check out the risks you’re facing. You’re facing the world naked. Doing business as a sole proprietor is like going into battle without armor. Even if you have insurance, it won’t protect you against certain things, like lawsuits that exceed the policy amounts. As a sole proprietor, you place all of your personal assets at risk. One freak lawsuit, and you could lose it all: your home, your bank accounts, your savings, your car and your jewelry. I can’t tell you what the odds are of being sued, but I’d sleep better at night knowing I had a layer of protection. Bankruptcy records last a long, long time. If your industry changes, clients dry up…

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Nina Kaufman

Flying solo doesn’t have to mean going it alone.

I’m Nina Kaufman.

I know first-hand that running a knowledge-based service business has unique challenges. It’s so much easier when you have an advocate in your corner. Over the past 25 years, I’ve worked with thousands of New York business professionals who want a legal advisor to guide and support them as they navigate the business world.

With wide-ranging experience as a business attorney, strategist, and media authority, I bring the added power of a business lens to the legal issues my clients are facing.

And because I’ve been a business owner myself, I’ve lived through the soaring highs and devastating lows – like when my first law firm failed. So I understand what’s involved to serve great clients, detect business risks early and build a true legacy.

I can’t get those 12 years back. That’s why I have made it my mission to ensure that business professionals like you can become wise and discerning leaders, build a solid business, and live your best life.