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Own Your Own Corporation: Why the Rich Own Their Own Companies and Everyone Else Works for Them (Rich Dad's Advisors) Paperback – October 1, 2001

4.1 out of 5 stars 82 customer reviews

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Editorial Reviews

About the Author

Garrett Sutton is an Attorney with over 20 years experience in assisting individuals and businesses to determine their corporate structure, limit their liability, protect their assets and achieve their personal and professional goals

From AudioFile

Creating the right type of corporate entity for a business can create enormous advantages for the savvy business-person. In this comprehensive guide, a corporate attorney explains the history and rationale of corporations and all the considerations and decisions that go into starting one. Forming a corporation, selecting board members, administering it within the law, creating tax advantages, hiring, protecting ownership of names and corporate assets, insurance, record-keeping--every part of the process is covered. The program is a listening pleasure in spite of all the technical material and, except for not having a written guide on the package, is a perfect reference audio for the kind of audience targeted by the Rich Dad's Advisors series. T.W. © AudioFile 2003, Portland, Maine-- Copyright © AudioFile, Portland, Maine --This text refers to an out of print or unavailable edition of this title.

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Product Details

  • Paperback: 317 pages
  • Publisher: Warner Business Books; 1st edition (October 1, 2001)
  • Language: English
  • ISBN-10: 0446678619
  • ISBN-13: 978-0446678612
  • Product Dimensions: 6.1 x 1 x 9 inches
  • Shipping Weight: 1 pounds
  • Average Customer Review: 4.1 out of 5 stars  See all reviews (82 customer reviews)
  • Amazon Best Sellers Rank: #296,806 in Books (See Top 100 in Books)

Customer Reviews

Top Customer Reviews

By Donald Mitchell HALL OF FAME on November 1, 2001
Format: Paperback
Almost everyone will either start-up a new business or invest in one at some point. Almost all of these investments will be unsuccessful. Most people will think that they merely have their investment sums at risk. Take the wrong approach to structuring the investment legally, however, and your whole career and life savings can be at risk. If you carefully follow this book's advice, none of these investments will cost you anything more than you planned to lose in the worst case.
When Robert Kiyosaki was a youngster, he loved to read about the early explorers like Columbus and Magellan. His Rich Dad encouraged him to also study those who financed the explorers, to learn about how they managed their risk and reward to expand and protect their wealth. "Don't climb the corporate ladder, why not own the corporate ladder?" was other advice that Rich Dad gave. To do this, Mr. Kiyosaki advises you to "find a good attorney and use him or her as your advisor on this important subject."
Own Your Own Corporation does an excellent job of explaining the various advantages and disadvantages of C and S Corporations, Limited Liability Companies, and Limited Partnerships from the legal perspective of how to save money on taxes and protect yourself from successful attacks on your personal assets. I particularly liked the way that the usual legal gobbledegook was avoided, and the ideas expressed in clear, simple language.
As a lawyer, I felt that the work was highly accurate and well presented for a layperson. I was especially impressed with the very long appendix that outlined the legal circumstances in each state. On the other hand, the book makes it clear that you should get some legal and accounting help to make sure that you do things properly.
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Format: Paperback
As a owner of various companies, I look for books that will provide insight on limiting liabilities while maximizing profits. The author has suceeded with this book because it's written with a straight forward approach that breaks down difficult corporate terms into terms that anyone can understand. This was achieved by showing examples of certain situations and unknown facts that can happen to any individual or company.
I really like how the book explains all aspects of different types of corporations to establish depending on each individuals goal to keep their company private or go public. At the same time, the book teaches you various ways to protect your personal assets from your business assets. Just this section alone will eventually save you thousands in personal asset protection.
Most importantly, I've read hundreds of books about corporations, asset protection, public or private, etc. with the majority being very boring with fancy terms that's hard to understand. This book was so enjoyable with simple terms and exciting case situations, I read the entire book without putting it down. I'm now re-reading it and underlining many facts that will be shared with my corporate paid professionals on various situations that my company needs to be protected against. I had no idea but thanks to your book, I do now.
Finally, This book is a "MUST" read for anyone starting a corporation and a "MANDATORY" read for any owner of an existing corporation.
Thanks to the author, Garrett Sutton, I'm now working smarter, counting more net profit and sleeping comfortably in my personally protected home.
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Format: Paperback
I have been teaching business management for thirty years, and every once in a while I come across a book that stands out from the rest. This is one of those books. One of the biggest mistakes new entrepreneurs can make is in thinking that owning your own business is quick and simple and anyone can do it. Well, many people have opened their doors for business, but statistics prove that many will also fall by the wayside in a very short time. In Canada, 35% of new businesses fail within the first year, 70% fail in the first five years and after ten years, the failure rate jumps to 85%. Three of the main reasons are lack of business management skills, an insufficient need and demand for the product/service, and insufficient financial resources for start-up and working capital. There is no question three of a businesses best resources are going to be your lawyer, accountant and banker. As this book will point out, entrepreneurs need a clear understanding of basic business principles and how to best credit-proof themselves to prevent loss of assets.
Through the pages of the book, readers will come to understand that owning your own business can be truly rewarding if you have the know-how, commitment and financial resources to not only get the business off the ground but to keep the doors open and make a profit. There are so many aspects of owning a business that an inexperienced entrepreneur does not even considered, and this book will definitely warn one of the potential pitfalls before they happen. If you are considering starting your own business and have little experience in managing a business, this book is for you. Even those who are already in business for themselves will benefit. Like anything else in life, we can never know it all and anything we learn will benefit us down the road. Overall, this is a great book, highly recommended and most deserving of a five-star rating.
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