Luisa is concerned about risks and liabilities involved with business ownership. What actions can she take to BEST protect her personal property against the financial obligations of her business?

Question

(1 point)
Responses

Register the business name; patent the logo

Register the business name; patent the logo

Establish an IRA; set up automatic withdrawals

Establish an IRA; set up automatic withdrawals

Seek legal counsel; choose the right legal structure

Seek legal counsel; choose the right legal structure

Hire an accountant; enroll in online banking

Answer 1

The best option for Luisa to protect her personal property against the financial obligations of her business is:

Seek legal counsel; choose the right legal structure.

This approach typically involves selecting a business structure that provides liability protection, such as forming a Limited Liability Company (LLC) or a corporation, which can help safeguard her personal assets from business debts and liabilities.