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Protecting your personal assets when you start a small business is an important consideration when determining what structure to choose. If you structure your business as an LLC or a corporation, with limited exceptions, your personal assets are protected from any liabilities of the business. You have to keep in mind that if you sign a personal guarantee or sign contracts in your personal name, then you may be liable personally for the debts and the obligations of the business. If you review the requirements of such protections with an attorney in this area, you will find that an LLC or a corporation can help you protect such assets.