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Showing posts from January, 2011

Review of Own Your Own Corporation by the Rich Dad's Advisor Garrett Sutton

When you are starting a new company, there are several entities to choose from. Currently in the USA, there are six entities available for the entrepreneurs to choose. The Rich Dad's advisor, Garrett Sutton , the corporate attorney explains which are the bad entities, which are the good entities to choose and explains the reasons behind these.

To succeed in business, to protect your assets and to limit your liabilities, you will want to select one of the good entities. Each good entities has its own advantages and disadvantages and has its own specific use. Each one of these good entities is utilized by the rich and the knowledgeable in their business and personal financial affairs.

1. Sole Proprietorship. Garrett Sutton says Sole Proprietorship is a Bad Entity, as this provides no asset protection for the owner. One lawsuit against your business, and your house, savings, and personal assets can all be lost.

2.General Partnership. Garrett Sutton says General Partner is a Bad…