Entity Name Amendment is a legal act of changing the name of your corporation, LLC, or other business entity that you use. Companies are authorized and bound to do business only using their legal names filed with the registering state. When changing its name, company must get an approval from the state BEFORE officially using the new name.
What Is Limited Liability and Why It Is Important?
Limited liability is a way to make sure that a person who is engaging in business does not risk his or her personal possessions in case the business fails. In other words - you risk what you put in.
What Is Corporate Veil And How It Can Be Pierced
If you are a business owner, one of the most significant reasons to incorporate or form a limited liability company is to protect your personal assets from a business creditor's claims against your company. This ability of a properly-formed maintained company to shield its owners from personal liability is sometimes referred to as the "corporate veil."
Closing a Chapter: Dissolution of Your Legal Entity.
Various reasons could lead to the business dissolution, such as bankruptcy, retirement, or change in career direction. When an entity is no longer doing business, it is very important to follows the legal steps in "winding itself up" as a legal entity.