Legal Book Review – Incorporating Your Small Business

If you are a small business owner and want to protect your assets and stretch your tax dollar as much as possible, you may want to consider incorporating your business. Maybe you don’t know much about incorporating your business, or why you should. Perhaps, you would like to know the story behind the reasons why people have incorporated their businesses in the past, or how that relates to the same needs, challenges and problems of our present time and your business in particular.

If so, there is a book that I highly recommend and one that I have in my own personal library. Interestingly, this book has been on my library shelf for 30 years. And when I was cleaning up all the old books, donating some and giving away others, I decided to keep it. Not because I can use this same book today to incorporate a business, I can hire an attorney to do it.

Rather, because I believe that the history and arguments for and against incorporating a small business are widely discussed, and still played out today. The name of the book is;

“How to incorporate; a manual for entrepreneurs and professionals”, by Michael Diamond and JL Williams, 1987.

Wow, things have changed since 1987, still much of the philosophy and definitions, of course, and the whole story is the same, but the forms are very different and now there are LLCs that they didn’t have at all back then. This book is extremely interesting because it helps us understand the evolution of corporations in the United States, both large and small. The flow of business law is quite interesting in that regard. In fact, I hope you consider this.