Many business startups who are in the initial stages and on their own quickly realize that being a sole proprietorship is not a particularly good idea because of their exposure to personal liability. As a result, many startups choose the route of becoming a single member LLC to provide both the member's and the LLC's assets with some protection from liabilities.
However, are single member LLC's effective at protecting the assets of both the member and the LLC in Colorado? As far as the LLC's assets, they might not provide the protection sought by a startup.
The Boulder startup lawyers of LaszloLaw discuss the potential problems with single member LLC's in Colorado.
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Colorado, USA
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