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Legal Q + A Graham Settleman Legal Q + A Graham Settleman

Are Your Personal Assets at Risk if Your Business Is Sued?

Whether or not your personal assets are at risk if your business is sued depends on a number of factors, including the type of business structure you have chosen, the nature of the lawsuit, and the laws of the state in which you operate. However, in general, your personal assets are protected from business liability if you have formed a limited liability company (LLC) or corporation.

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