Grizzly Bear
Well-Known Member
Good morning Knife Dogs.
They poured the foundation for my new shop yesterday and I am real excited. I have a lawyer
(daughter's father in law, lucky me) getting my tax number and setting up my corporation in the next couple of days.
This has got me thinking about things. Do most of you guys/gals form a corporation, a limited corporation, or a sole
proprietorship?
I know with a corporation that you can't personally be held responsible for things but the corporation is. Thus you
won't loose your home or 401K if there is a law suit. However, do you carry insurance to protect the corporation?
With everyone these days looking for any opportunity to sue people I was wondering if you are concerned about it.
"A guy cuts himself with a knife and sues you because the steel you used was too sharp." This example is kind of
far fetched but who knows?
I would appreciate any advice you could give me.
Thanks,
Grizzly Bear
They poured the foundation for my new shop yesterday and I am real excited. I have a lawyer
(daughter's father in law, lucky me) getting my tax number and setting up my corporation in the next couple of days.
This has got me thinking about things. Do most of you guys/gals form a corporation, a limited corporation, or a sole
proprietorship?
I know with a corporation that you can't personally be held responsible for things but the corporation is. Thus you
won't loose your home or 401K if there is a law suit. However, do you carry insurance to protect the corporation?
With everyone these days looking for any opportunity to sue people I was wondering if you are concerned about it.
"A guy cuts himself with a knife and sues you because the steel you used was too sharp." This example is kind of
far fetched but who knows?
I would appreciate any advice you could give me.
Thanks,
Grizzly Bear