Louisa is concerned about risks and liabilities involved with business ownership. What actions can cheap take to best protect her personal property against the financial obligations of her business.

Question

Register the business name, patent the logo
Establish an IRA set up automatic withdrawals
Seek legal counsel choose the right legal structure
Or
Higher in an accountant enroll in online banking
ABC or D

Answer 1

The correct answer would be: Seek legal counsel, choose the right legal structure.

Seeking legal counsel will provide Louisa with professional advice on how to best protect her personal assets from the financial obligations of her business. The lawyer can guide her in choosing the appropriate legal structure, such as forming a limited liability company (LLC) or a corporation, which will create a legal separation between her personal and business assets. This separation can help shield her personal property from being at risk in case of any liabilities or debts incurred by the business.

While registering the business name and patenting the logo might be important for branding purposes and intellectual property protection, they may not directly address the concern of protecting personal property against financial obligations. Establishing an IRA and setting up automatic withdrawals, hiring an accountant, or enrolling in online banking are unrelated to personal property protection against business liabilities.