Ming is starting a business and she would like her personal assets to be protected. Which organizational structures should she consider?

Question

Yael Coleman

Social Studies

4 October, 09:19

Ming is starting a business and she would like her personal assets to be protected. Which organizational structures should she consider?

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Answers (1)

Know the Answer?

Serenity Moore · Answer 1

Answer is Limited Liability Corporation.

Explanation:

If Ming adopts the limited liability corporation structure, and maybe at a stage of the business, the company gets sued, Ming personal assets will definitely be protected. This is because, in this type of corporation, the company or business will be responsible for its dept, while, Ming as the owner, will only be responsible for dept that is up to his share as the owner.