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First up: talk to a lawyer, not HN. But ... as the name suggests, the primary function of an LLC is to make the company subject to liability, not the owner. S
by __d 4y ago
First up: talk to a lawyer, not HN.
But ... as the name suggests, the primary function of an LLC is to make the company subject to liability, not the owner. So if the company is sued and loses, you don't personally have to go through bankruptcy, lose your house, etc.
For any sort of significant online activity, it's definitely worth considering what you might be exposed to. If you can afford it, do it up front. IANAL, etc.
- stefanos82 4y agoI have talked with a couple of lawyers, but were not clear enough whether should I go with a company first and then build my MVP. Half of them told me to go for it and later to worry about registering a company and the other half told me to register a company first and then build my service. I'm totally confused right now...
- lmarcos 4y agoPut it this way. Let's say you build this job board of yours. You are just scraping the web and copying job offers into your website to gain content. What if your site gets hacked? Well, no big deal... All you got in your site was pure public data no one cares about. So, having an LLC or not wouldn't make a difference. Now, imagine your website allows companies to register themselves and post job offers. Perhaps you even allows then to pay for posting job offers. What if you site gets hacked? Data leaks? You may get sued. LLC may come in handy.
- stefanos82 4y agoI haven't thought of that scenario to be honest with you...you make a very persuasive point!