If I have a business and were to get sued, could my husband business be at risk?

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If I have a business and were to get sued, could my husband business be at risk?

My friend and I want to start a small cake business. What needs to be done in order to get started legally? What do we need to do to make sure that we don’t lose everything if we are sued for any reason? My husband has a separate business. If something were to happen legally to our business, could he lose his as well?

Asked on March 3, 2011 under Business Law, Missouri

Answers:

M.T.G., Member, New York Bar / FreeAdvice Contributing Attorney

Answered 10 years ago | Contributor

You need to seek help from an attorney that specializes in business law in your area to help you set up the business correctly from the start.  What you and your friend need to do is to start a separate business entity that is some form of a corporation that allows you to limit your liability to the assets of the corporation.  If your Husband has no involvement and his business has not involvement really then he should be fine.  Look in to the permits and licenses that you need to get to run a food business as well as insurance coverage.  Good luck to you in your new endeavor!


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