Rarely do I give 5 stars but Attorney Kevin Strait answered all my questions about starting my business and helped me analyze my start-up costs. He’s incredibly knowledgeable and made my life so much easier.
Seriously impressed.
BUSINESS LAW
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Business Liability Shielding
As a business owner, you assume a significant number of liabilities as part of your operations. These include current, long-term, and contingent liabilities, all of which put your business at risk if you can’t meet the financial burden they place on your company.
While some liabilities, such as payroll or business loans, are typical aspects of operation, contingent liabilities, such as lawsuits, are mitigated with the correct liability shielding in place.
What are Contingent Liabilities?
Contingent liabilities are potential risks your company faces as an operating business. The most common types of contingent liabilities are lawsuits and product warranties. Most companies face possible, probable, and remote contingent liabilities.
Possible contingent liabilities are those that may or may not occur, whereas probable contingent liabilities are likely to occur during the course of business. Remote contingent liabilities are risks that are unlikely but should be considered when planning your business.
The risk of these contingent liabilities is reduced by business organization planning and liability shielding implemented by a skilled business attorney.
What is Business Liability Shielding?
Liability shielding refers to legal strategies and structures that protect your business from potentially costly liabilities. Liability shielding protection includes:
- Business entity formation such as LLC, S-Corporation, or C-Corporation
- Operating agreements
- Holding structures
- Liability waivers
- Terms and conditions
- Trusts
- Liability insurance
Putting these liability shields in place better protects you from potentially devastating contingent liabilities.
Why is Liability Shielding Necessary for Business Owners?
Without liability shielding structures in place, your company is at risk. A lawsuit or partnership disagreement can result in the dissolution of your business and loss of company assets. If you are not protected correctly, you can lose your personal assets too.
It is essential to work with a skilled business attorney who can put legal shields in place to protect you from costly liabilities. Liability shielding can save your business from going under due to a lawsuit or partnership dispute.
Protect Your Business With Anzen Legal Group
If you are starting a new business or want to review liability protections for your existing business, contact Anzen Legal Group today. We can help you put liability shielding structures in place to ensure your company is protected from financial disaster.
The Anzen Legal Group, represents clients throughout Colorado in communities such as Fort Collins, Denver, Colorado Springs, Boulder, Aurora, Grand Junction, Centennial, Greeley, Castle Rock, Lakewood, Broomfield, Arvada, Pueblo, Parker, Longmont, Westminster, Loveland, Thornton, Commerce City and Canon City.
Representation You Can Count On
For estate planning, business formation, or assistance with your business strategy, work with Anzen Legal Group. Our team is eager to support local businesses and their families across the Centennial State.
We also represent clients in contract disputes, family law matters involving divorce, child custody, and more. Our experienced Colorado lawyers listen attentively and provide trusted counsel for any legal situation you may encounter.
Call us at (970) 893-8857 to speak with one of our attorneys and start the process of protecting your rights, assets, and future.
Testimonials
I call Kevin with Anzen Legal for all of my aviation business’s legal needs. His advice was invaluable to my business start-up process.
Attorney Kevin Strait did an amazing job to help us get out of an urgent predicament that required immediate action over a weekend in a complex matter. He was extremely responsive to our needs and his counsel was spot on and helped resolve the situation within less than 72 hours. Highly recommended!
Kevin, one of the attorneys, does a great job explaining how the law works for me and against me whenever I have a business question.
Kevin at Anzen Legal helped me avoid some legal pitfalls in my industry association meetings. He does a great job applying legal knowledge to the real world of business.
One of the attorneys, Kevin Strait, walked me through all my options for starting a non-profit. He was able to boil down the process to the essential things I needed to know.
The team at Anzen are without a doubt the best I have worked with. Not only are they competent, professional, and knowledgeable, but they are the 1% of attorneys that the 99% are giving a bad name to. Do yourself a favor, and place all your legal affairs in their capable hands. I didn’t regret it and neither will you.
I have had the privilege to work with Mr. Strait on both personal and professional levels, and I have a deep level of respect for him in both areas. Mr. Strait is a competent attorney which is further enhanced by his prior engineering and business experience. What I most deeply respect about Mr. Strait is his integrity and his care for people as individuals, and I consider him heroic in both. I continue to rely on his services, and I commend him to others as well.
