Subject: RE: [baidarka] making and selling boats
From: stlowe@hotmail.com
Date: Wed Jan 12 2005 - 00:00:53 EST
Mind you this is legal advice from someone who hasn't (yet) taken the WA
State Bar...free advice worth every penny, I'm sure. But I did get 165 out
of 180 on my LSAT.
There will always be liability and rumors of liability. My company (based
in Redmond, WA) makes incredibly boring software for other companies which
actually own the products, and yet we are afraid not to carry a lot of
liability insurance in case a user manages to get bored to death and his/her
heirs find a way to sue us.
If I were you...I'd incorporate, probably as an S-Corp or LLC. That way if
a suit is filed, it would most likely be filed against the corporation. You
might lose whatever assets were attached to the company, but you'd have at
least some protection for your personal assets. It doesn't cost much and
the paperwork is pretty trivial. It does mean a bit more tax filing,
though, possibly on a quarterly basis and possibly just to show that you
haven't made much money; but on the other hand, it can be handy to have the
Tax ID when trying to get stuff from wholesalers.
-----Original Message-----
From: owner-baidarka@paddlewise.net [mailto:owner-baidarka@paddlewise.net]
On Behalf Of Paul Montgomery
Sent: Tuesday, January 11, 2005 8:10 PM
To: Baidarka Mail List
Subject: [baidarka] making and selling boats
My new shop is almost set up so I'm about to make a couple of
folders. If I sell these boats, is there any liability involved? I'm
presently in Washington State.
Paul Montgomery
http://paddleandoar.com
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