What if you suspect your business partner is stealing from your LLC or corporation? How can commingling of assets and funds risk the integrity of the corporate veil for your business? If you suspect a fellow member or shareholder of stealing from your LLC or corporation you should not take matters into your own hands. The experienced business ownership dispute attorneys at the Watkins Firm have proven strategies to put a stop to theft and ultimately manage the situation internally. The key is to immediately reduce or eliminate the opportunity for theft to continue by placing effective controls within the operations of your company. Once this is in place we work with our clients to amass evidence of theft or questionable activity. Most clients are more comfortable with having our attorneys confront the situation based upon sound evidence. This saves the parties from a potentially risky confrontation and the embarrassment of a false accusation.
Commingling personal funds and assets with business or using business funds to pay personal debts or liabilities is a dangerous practice. The purpose for an LLC or corporation is the protections of the corporate veil for it’s owners. Creditors are not able to hold you personally liable and come after your personal home, accounts or other assets to satisfy business debts unless they are able to pierce the protections of the corporate veil. Commingling is an activity which many creditors use to remove the corporate protections in order to pursue owners jointly and severally.
This is why it is so important to contact the Watkins Firm for a free consultation at 858-535-1511 if you suspect your business partner is stealing from the company commingling funds and assets. Our professionals will help you to get to the bottom of what is really going on and work with you to resolve the issues at hand based upon your own goals and objectives.