I assume you are in US. I am in UK but many of the same principles apply. I know many small businesses who are not limited companies without issue. I setup a li

I assume you are in US. I am in UK but many of the same principles apply. I know many small businesses who are not limited companies without issue. I setup a limited company to receive government funding. I also pay for professional indemnity insurance but I note prices have increased a lot with more cyber attacks. If you have no customers or employees I think the answer to your question is no. You will end up incurring costs, paperwork and probably require an accountant. I imagine your pressing issues are terms of service and copyright. If you want to call yourself CEO the answer is yes. Here in the UK we can look up any companies finances. I imagine it's the same in the US. You can declare yourself King or Queen over a whole load of nothing :-)