LLC vs. Sole Proprietorship Protection

๐Ÿ“• Legal Literacy ยท 5-card lesson ยท ๐Ÿ”’ Premium

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Preview โ€” The Goal

๐ŸŽฏ The Goal: Running a business under your own name puts everything you own at risk. As a sole proprietor, you ARE the business โ€” if it gets sued (a client trips, a project goes wrong, a contract dispute), your personal savings, car, and even home are fair game. A single-member LLC draws a legal wall: business debts and lawsuits stop at the business's assets. Setup: an afternoon and $50-500. The wall: priceless the one day you need it.