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!
Separate Personal from Business
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 an Anonymous LLC
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.
Intellectual Property Protection
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.
Online Privacy Settings
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.
Industry-Specific Requirements
Different industries require different privacy measures. As you set up communication systems, ensure they comply with your local, state, and federal regulations.
Insurance Coverage
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.
Access Controls & Security Measures
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.
Maintain Documentation
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.
Can You Hide Your Identity With an LLC?
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:
- First, we create the company anonymously in a state that does allow them.
- Then, we create an LLC in your desired state, listing our phone and address.
- The Articles will require an Organizer to sign. We act as the company's Organizer.
- We act as your registered agent and your company’s public face
- Use our incorporation service whenever additional documents need to be filed
Business Asset Protection FAQs
Both LLCs and corporations offer personal liability protection. In those structures, the business is a separate legal entity. Sole proprietorships and DBAs do not offer protection because there’s no legal separation.
Because an LLC is a separate legal entity, it acts as a wall between your business and your personal life. An LLC must list a person's name, address, email, and phone. An anonymous company, however, avoids forcing you to list your personal information online. Instead, you list ours.
In the United States, businesses are required to maintain specific documents. When this is handled properly, the business is compliant. When it’s not, the business is considered to be non-compliant. Example documents include: meeting minutes, certificates, test reports, and material disclosures.
Specific requirements vary by business type and industry. Don’t worry! We help with this.
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