5 ms·

Are you personally liable for the services you provide? That seems scary, to say the least.

• idlewords 15y ago
  I am, but I guess I don't find it so scary.
  • tptacek 15y ago
    This sounds totally reasonable since you've thought it through, and you can always get an LLC before you do any kind of business that would change that calculation. I just want to advocate for the stance that, if you're not sure, you should err on the side of having limited liability. Your business is probably going to fold, and when it does, it's probably going to have liabilities.
    • idlewords 15y ago
      Even though it's completely hypocritical I wholeheartedly join you in your LLC cheerleading. Fast, easy, not expensive. What I've found by far the hardest as a one-person business is finding a lawyer and an accountant. It's hard to know where to start looking, and there's so much startup money sloshing around that it crowds out smaller fish like me.
• sdizdar 15y ago
  Please talk to the layer to understand liability for your particular business. As a officer of a company you are still personally liable for some things and D&O will not cover it. In other words, don't think incorporation will make your private assets 100% safe.
  • tptacek 15y ago
    You are particularly exposed when it comes to torts you personally have a hand in, and possibly for contracts where it can be entered in bad faith. That said: I'd be very surprised to hear a lawyer say that incorporation makes you more exposed. You make a good point, but I'm still pretty sure the default should be "incorporate somehow".
    • deleted 15y ago
      [deleted]