There are several strategies entrepreneurs can employ to protect their assets:
Legal Structuring: Forming a Limited Liability Company (LLC) or corporation can provide a shield between personal and business assets. Insurance: Obtaining the appropriate business insurance can protect against specific risks. Compliance: Ensuring compliance with all local, state, and federal regulations reduces the risk of legal issues leading to asset seizure. Debt Management: Effective debt management practices can prevent financial troubles that could result in asset seizure.