Maryland Attorney Services Provided Online To Form A Maryland Corporation

Entrepreneurship is one of the most exciting times of a persons life

. It is very exciting because you are starting something very new and are extremely excited to see the potential of the business. After you decide what you want to do as far as the business then you have some legal hurdles that you need to jump in order to ensure that your Maryland Corporation is properly filed with the State and that it provides you all of the protections that a typical corporation should offer. The first step in starting your business is to file a Maryland Incorporation. This document will allow your company to be filed with the State and to be recognized as a valid company. However, in order for it to be recognized as a valid Maryland Corporation it must be created correctly and filed properly. One of the biggest mistakes that individuals make is that they believe that they can form their own corporation on their own. However, the problem is that they lack the requisite experience and knowledge that will enable them to form a proper Maryland corporation. One of the most beneficial aspects of a corporation is that it provides limitation of liability to the owners of the company. In a typical corporation, the individual owners are what we call shareholders. These individuals are typically the people who have either formed the corporation or have bought shares in the corporation. Under most state laws the owners of the business entity will be liable for any debts or obligations of the business should the business not be able to cover such debt or obligation. However, by filing a proper Maryland Incorporation the owners of the business can avoid the horrible consequences of personal liability.

Say for example that you own a flower shop. It is a very successful business and throughout the day many individuals visit your shop and purchase flowers. You worked very hard to save up money to not only start the flower shop but also purchase the flowers in order to make the business operate. As an example, one of the patrons of your store happens to slip on some water that was spilled from one of the flower pots. This individual falls and severely injures themselves whereby they cant work for a long period of time. They may potentially sue your business and recover whatever the courts deem a proper recovery for their injuries. If your business does not have enough funds to pay the debt for the injury then you as the owner of the business will be personally liable. At this point the question turns to whether the business was a valid corporation at the time of the fall or not. If it was a valid corporation that was formed by an Attorney then it will have all of the benefits of a corporation including the protection against personal liability. If the business was not formed properly then the individual shop owner may be liable out of his own pockets in order to satisfy the judgment. Irrespective of any insurance payments such payment by the shop owner may have horrible consequences to the business and may even cause the business to shut down.

by: Michael Dar

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