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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) | 
 enlarge | Author: Garrett Sutton
Publisher: Warner Business Books
Category: Book
List Price: $17.95
Buy Used: $3.59
You Save: $14.36 (80%)
New (34) Used (45) Collectible (2) from $3.59
Avg. Customer Rating:  53 reviews
Sales Rank: 6974
Media: Paperback
Number Of Items: 1
Pages: 317
Shipping Weight (lbs): 0.9
Dimensions (in): 9.2 x 5.8 x 1
ISBN: 0446678619
Dewey Decimal Number: 658.041
EAN: 9780446678612
ASIN: 0446678619
Publication Date: October 2001
Availability: Usually ships in 1-2 business days
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| Customer Reviews:
 NOT for the neophyte!!! December 3, 2001
46 out of 50 found this review helpful
A lot of the other reviewers of this book are people who are already "in the know", meaning that they already know something about the subject matter. -I don't! The most I know about business is that you create a product, sell it, and the price you sell it for should be greater than the cost of producing it in order to make a profit. Of course, I also realize that there are much more complicated peripheral issues involved and that's why I bought the book.
The problem that I have with this book therefore, is that I think that a lot of it is written in "Lawyerspeak". I have gotten the impression from reading the other "Rich Dad" books that the target audience is the layman and the idea is to educate him to enable him to make the jump from the "rat race" to the "fast track". This book untangles only some of the knots of the comprehension barriers involved in setting up a legal and profitable business. I found that there are far too many un-and-under-explained references that for my entry level of understanding only served to lose me and ultimately to put the book down until I may one day find another book that can explain some of the terminology.
It is my understanding that the average reader of a book such as this would be someone who is interested in turning a "E" or "S" quadrant skill into a "B" quadrant business. It would be more helpful if the book were written to address the first-timer's concerns and potential problems. While this is mildly addressed throughout the book by providing fictional stories of various business situations, there are a definitely large areas where the neophyte reader can easily be as lost as I have been in reading this book. Mr. Kiyosaki's skills in relating to the outsider are sorely missing in the text of this book.
 A MUST-HAVE BOOK FOR ENTREPRENEURS! October 3, 2001
44 out of 46 found this review helpful
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.
Learn How Corporations Work November 7, 2001
33 out of 34 found this review helpful
Garrett has done a great job of making a complex topic - corporate law - understandable. It's not the secret "how to" book that has all the secrets of the wealthy. It is a book that gives you the background and language to talk intelligently to your own advisors. As a fairly well-off business owner, I had to learn through years of experience how to take advantage of corporations for liability protection and tax savings. Read this book to speed up the process for you. I only wish it had been written a decade ago! Thank you Garrett for such a well-written and understandable book.
Gear towards Medium-High corporate knowledge Audience. March 4, 2002
32 out of 35 found this review helpful
This book is a good source of information for those already incorporated and even the ones think about it. The author lays his experience in an easy to understand format. When I first picked up the book I read 1/3 of it in one night, absorbing mainly the information about how to protect my business and sometimes more importantly, my personal assets from unscrupulous lawsuits and "legal" mistakes. The 2/3 of the book or so, talk about taking your company to the public (the stock market), and in my opinion the author knows or specializes in this type of practice since he spent many pages talking about the intrinsically complicated ways of making this transition. The last portion was merely reproduction of information already available from many state government web sites about the requirements, and even though it is nice to have this information handy in one book, I particularly did not appreciate the author including all these many pages of public information in this book. Overall, the book is a must read for anyone serious about long term business. I give it a 4/5 in my scale.-
Only one-third of this book is useful. March 1, 2006
32 out of 32 found this review helpful
Only one-third of the book covers what a typical Rich Dad Poor Dad reader would expect: how to use corporations to protect one's assets. The information in this section is really helpful and interesting, especially for beginners. The author provided great examples to illustrate key points. The writing overall, however, could be improved by having better summaries of each chapter and by defining every new legal term used in the book (for example, the book never defined "indemnification" but it used it frequently).
Another one-third of the book covers how to start a company and take it public (have it listed as a public stock). I don't think any typical Rick Dad Poor Dad reader has this purpose in mind for their businesses or real estate purchases, so this second part of the book is utterly useless and irrelevant to most readers. The last one-third of the book basically lists the laws for incorporation for each state, which is useful, but I'm sure the author could have provided a webpage to list all this information.
Another thing to consider is that this book might be outdated. It was published in 2001, and laws may have changed by now (this review is written in early 2006). For example, the double-taxation policy of dividends was changed after the publication of this book. I think the author might have overcome this by providing updates to important relevant laws through a website or something similar.
For all these reasons, I'd recommend the interested reader to explore other sources first. Unfortunately, I can't recommend other books yet. If there doesn't seem to be any other good sources, then consider reading this book only if you can buy it used or borrow it from the library.
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