Bankruptcy reforms threaten to cut entrepreneurs off from protective measures.
Opinions expressed by Entrepreneur contributors are their own.
New legislation aimed at reforming the bankruptcy system willeliminate a much-needed safety net for America's smallbusinesses, casting a pall over not only aspiring entrepreneurs butestablished businesses as well, experts say.
"It will chill the formation of startup businesses,"predicts Robert Lawless, a law professor at the William S. BoydSchool of Law at the University of Nevada, Las Vegas. "Itwould have the same effect on businesses taking on new investmentrisk. It's going to dampen the enthusiasm both to start newbusinesses and expand existing ones."
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