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How can a business protect themselves from personal liability if they obtain widgets from a foreign...

How can a business protect themselves from personal liability if they obtain widgets from a foreign manufacturer?

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Answer #1

The business can protect themselves from personal liability if they obtain widgets from a foreign manufacturer by declaring themselves as LLC (Limited Liability Company) to avoid liability from any lawsuits by signing the contract. Declaring LLC has several benefits to the business as offers an opportunity to segregate personal ownership or activities from the business ownership or entity so that the creditors can be avoided to focus on the personal assets rather business liabilities. The other ways are to have a sole proprietorship with unlimited personal liability and protect the business it always good to have an insurance which protects the business from any type of derailing and depleting the business and personal assets. Other way is to hire independent contractors to fulfill the staffing needs.

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