Why is establishing a seperate legal entity to seperate the business from the...

[Shantelle H]

...individual owner important? I got faced with this question a couple of months back and I never got around to finding it out, however it is bugging me now as I really need to know as it has came up in my business studies a level class and I never did get told the answer before.

 

[Scott allen H]

In case your business should fail, any lawsuits would be limited to only attack the business assets and not your personal such as say, your house or cars and such.