Do I really need a lawyer to open a small business?
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Do I really need a lawyer to open a small business?
I’m going to start the guided tours in the city using my own car. I will register my company according the city roles and buy a professional car insurance. Do I need something else to protect myself and family in case of an accident or legal clams against me/my company?
Asked on June 17, 2016 under Business Law, California
Answers:
SJZ, Member, New York Bar / FreeAdvice Contributing Attorney
Answered 7 years ago | Contributor
You really should set up and run your business under either an LLC or corporation (probably subchapter S corporation), which will protect you personal assets (e.g. savings; home) from many, if not most, types of business-related liability. The fairly small cost to do this is well-worth the protection you will get. You should also purchase additional umbrella coverage for the business, for an additional lawyer of protection.
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