willybfriendly - 8:13 pm on Apr 22, 2010 (gmt 0)
I'm not sure how it works outside the US, but in the US, doing business as a corporation or LLC has a lot of advantages. As long as you follow the rules, you should only be able to be sued for the value of your business and not your personal assets.
Not always the case. After consulting with out attorney we chose NOT to incorporate. Seems it does not always shield against personal liability (esp for negligence). If you are a one man shop you end up in a situation where the business can be sued and you can also be sued.
The example given was driving a company vehicle through the front of someone's house. If it was an employee driving, the homeowner would make claims against the business and the employee. If you are the only employee, well...