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MShore, Attorney
Category: Legal
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Experience:  Negotiate, Draft, and Review many complex commercial agreements each year.
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What are the benefits to having an LLC in which you would take

Resolved Question:

What are the benefits to having an LLC in which you would take partnerships in multiple companies VS. being a sole proprietor and having ownership in multiple companies?
Submitted: 4 years ago.
Category: Legal
Expert:  MShore replied 4 years ago.
Thank you for the post, I am happy to assist you by answering your questions. By virtue of the LLC you do not have personal liability should any partnership turn sour or the business in which you take on a partnership interest be sued (unless you commit fraud through the LLC). Please let me know if you need additional guidance.
Customer: replied 4 years ago.
If I am going to be taking ownership in multiple companies in the near future would you recommend that I file for an LLC to limit my personal liability?
Expert:  MShore replied 4 years ago.
Yes, I certainly would. You need that protection so your personal assets are not in jeopardy.
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