Limited Liability Commpany Attorneys
The Benefits of a Limited Liabillity Companies LLC When in a Lawsuit
Once you have a fully-developed business plan in place, you can begin the process of launching your commercial enterprise.
As a new business owner, you may understand the importance of obtaining legal safeguards to protect your assets and mitigate liability; however, you may be uncertain of what model is best for your business.
The most common and flexible business structure is a limited liability company (LLC), which can shield owners and business partners from incidents of negligence.
The award-winning business litigation lawyers at the Shiner Law Group identify the benefits associated with a limited liability company and how the form of a corporation can benefit you in a Florida legal proceeding.
What is a Limited Liability Company?
A limited liability company (LLC) is a corporate form that can protect business owners from decisions or financial losses that could otherwise hold them personally liable.
While LLCs are afforded the same legal protections as corporations, business owners can enjoy increased financial opportunities such as avoiding double taxation issues that are commonly associated with incorporation.
It is important to note that business owners can be held legally responsible for their actions under specific circumstances, though a proper LLC designation can significantly reduce the risk of personal liability.
Benefits of a Limited Liability Company
When an independent contractor> enters an agreement, he or she can be held personally liable for incidents of negligence.
For instance, if a pipe was inadequately installed in a commercial office building, resulting in flood damage, the company and any employees injured can bring a legal cause of action to recover pecuniary losses.
The independent contractor’s house, bank accounts, and other assets can be put at risk.
However, if a business owner enters a contract in the company’s name, any form of civil litigation will be made against the company when a breach of duty resulted in damage to people or property.
A limited liability company can also protect business owners involved in a partnership from their partner’s breach of fiduciary duties.
Forming a Limited Liability Company
One of the key advantages of forming an LLC is that business owners, or “members,” are limited to their financial contribution.
(Criminal negligence and non-compliance can still subject members to liability.)
Other components of LLCs include flexible organization to manage incommensurate investments, legal protections for financial risks and outside investments, and a framework for generating sustainable growth.
Business owners who have a solid grasp of their day-to-day operations may also entice prospective buyers with an LLC corporation.
Why Hire a Shiner Law Group Attorney?
At the Shiner Law Group, we understand effective business litigation requires a high degree of skill, experience, and judgment to identify the appropriate defendants and assess the value of your claim.
For over 15 years, our award-winning law firm has advocated for major businesses involved in commercial disputes arising from breach of contract, commercial lawsuits, intellectual property lawsuits, copyright infringement, and transaction disputes.
We conduct a thorough and independent investigation of the facts, customize our legal services to the needs of each case, initiate the lawsuit, use the discovery process to obtain key evidence, perform legal research, and ensure your claim is trial ready.
We focus on Florida’s complex legal hurdles, so you can focus on your business.
Speak with a Shiner Law Group Business Litigation Attorney
By working with a business litigation lawyer at the Shiner Law Group, business owners can find comfort in resolving their disputes quickly and in a cost-efficient manner. We can help you assess, file, and prosecute or defend your legal matter and get the justice you deserve. Call us at (561) 777-7700 or contact us online for a free case review.