Incblog for Entrepreneurs

Covering entrepreneurship and business start up questions for non-residents and US citizens.

 

Dec 29 2011

LLCs are for Lazy People

by John Gordon | 15:12 GMT

Don’t take this wrong; most people are lazy in some way while they focus on more important things like family, friends, TV, movies, tweeting, Facebooking, or even working on their business. Lazy people don’t like to keep minutes, hold meetings, and generally follow many formalities. Who can blame them? Limited Liability Companies (LLCs) are perfect for […]

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Apr 29 2010

What is the liability protection of an LLC? How do you maintain and protect it?

by John Gordon | 07:04 GMT

There is much literature praising the benefits of LLCs as a new business form for the small to medium-size business owner. LLCs are indeed an advantageous business model because, unlike corporations, profits and losses can pass directly through to the owner’s personal income tax return while the owner’s personal assets are shielded from liability. But this protection is not unlimited, and if the owners of an LLC do not take adequate precautions, they can find themselves facing a potential lawsuit without the benefit of having their personal assets protected from a judgment against the LLC.

 

May 14 2009

Business plans, innovation and entrepreneurship

by John Gordon | 13:05 GMT

This year, The Wharton School (perennial competitor to my alma maters, Columbia Business School and London Business School) has again generated some interesting ideas in its annual Business Plan Competition: Article This year, hi-tech ideas have yielded ground compared to This year’s competition had 168 entries, showing the huge involvement of the student body of […]

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Apr 23 2009

LLC v Business Corporation

by John Gordon | 11:04 GMT

LLCs and corporations are different in more ways than just letter combination. Each derived from different types of laws, and therefore come with significant baggage. Corporations, owned by shareholders and ruled by a Board of Directors through hired officers, are the result of centuries of entrepreneurs using other people’s money to produce profits. This led […]

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