What would the lawsuit be about? Is there a way that you would be sued as the actors "behind" the corporation (http://en.wikipedia.org/wiki/Piercing_the_corpora

What would the lawsuit be about? Is there a way that you would be sued as the actors "behind" the corporation (http://en.wikipedia.org/wiki/Piercing_the_corporate_veil http://en.wikipedia.org/wiki/Piercing_the_corporate_veil)? Will you be a director of the corporation as well? It's very common for people to sue directors of corporations (see D&O insurance for details [http://www.insurepro.net/html/directors_and_officers_explained.asp] http://www.insurepro.net/html/directors_and_officers_explain...). The liability might be less limited than you think. Liability for debt? Probably anyone that would lend money to you would want personal guarantees. You may want to consult a lawyer if this could potentially be messy. Lawyers are expensive you say! See my comment below about law schools and clinics.