Would I incorporate as a LLC?
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Would I incorporate as a LLC?
I would like to run once a week play
groups in a city park in Minnesota. I will
charge a fee for this service. Would I
incorporate as an LLC to protect
myself?
Asked on April 17, 2018 under Business Law, Minnesota
Answers:
SJZ, Member, New York Bar / FreeAdvice Contributing Attorney
Answered 6 years ago | Contributor
Yes, you should set up or form an LLC (technically, you do not "incorporate," since you only incorporate corporations). As the very term "limited liability company" indicates, the LLC structure protects its owners (called "members") from most (but not all; no protection is perfect) liability resulting the business' acts or omissions. That is, for most potential liability, the business can be sued, but not the member(s) personally. It is a good idea to run any business venture through an LLC or a corporation to protect yourself (and your personal assets, like your home, investments, money in the bank, vehicles, etc.) from business-related liability.
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