Forum Moderators: LifeinAsia
I'm amazed at the number of one man shows that think incorporating will protect them from their own direct acts.
When the bus hits my client I sue 1) the business company, often a corporation; and, 2) the bus driver since "he did it".
If something bad happens, and "you did it", then chances are 1) you will get sued individually; and, 2) your empty shell corporation will be 'pierced' so that the injured party can go after you any way.
Get insurance.
My other job is civil trial lawyer.
I work with alot of individuals who "start up" small business (service businesses, salons, fitness trainers, coaches, etc) as individuals, and everybody around them emphasizes the "inc" step as critical. I see so many poorly done, useless $600 inc's it seems sinister.
Inc's define and protect corporate assets. Insurance protects individuals. Fine print protects insurers. Given all that, the best thing you can do is get yourself insurance and be sure to abide by every bit of the fine print!
I just dont want to walk up to a guy with no background.
I trust your comments about "your empty shell corporation" were not directed at me directly Webwork.
I realize that incorporating does not protect you from lawsuits and I'm glad I never had a problem with that... but it also helps out with taxing, assets etc.
Insurance has been in effect for 3 years.
[allbusiness.com...]
In my opinion, lawyers are specialists, like doctors. I wouldn't go to a neurologist if I was having trouble breathing. And I wouldn't go to ONE attorney for all of my business needs. So I call up a senior partner, tell him what I need, and then I talk to a contract, IP, litigation, entertainment, whatever-type attorney who specilizes in just that.
So in your case you want someone who is a corporate attorney.