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As a small business owner, you want to protect your privacy and business assets. Setting up an LLC or a corporation is the first step, but there are others. Being proactive is best!
Set up a legal business entity (e.g., LLC or corporation) to separate personal and business assets. Obtain a business Employer Identification Number (EIN). Then open dedicated business bank accounts and credit cards. Avoid mixing personal and business finances, keeping clear records of each.
Consider setting up an anonymous LLC to limit your sharing of personal information. LLC Attorney offers this solution for small business owners who value keeping their personal information private.
Register your trademarks, copyrights, and patents for any intellectual property. Non-disclosure agreements
(NDAs) and confidentiality agreements help keep your privacy when communicating with employees, contractors, and partners.
Optimize privacy settings regarding social media, online platforms, and integrations. . Consulting with an IT expert can ensure everything is secure for you, your small business, and your customers.
Different industries require different privacy measures. As you set up communication systems, ensure they comply with your local, state, and federal regulations.
Adequate insurance coverage can make all the difference when disaster strikes. You want to consider liability insurance, property insurance, and other relevant insurance policies. Schedule times to review your coverage regularly and adjust as your business grows or changes.
From physical locations to online passwords, security is a priority. Use secure locks, alarms, and surveillance cameras. Make sure access to your digital systems and data is tight.
Keep accurate and up-to-date records of business activities, transactions, and agreements. Plus, you want to maintain detailed documentation of intellectual property, assets, and liabilities.
Almost every state allows you to form an anonymous LLC. For those who don’t, however, there’s a workaround. It’s called the double limited liability company. The strategy was first developed in Florida, but the principle can be applied more broadly. Here’s how it works, in general terms: