91–100 of 120 posts
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The link takes me to an empty HN page.
The link is dead (not sure why, it seemed useful enough to me). You need to set showdead=yes in your HN profile.
Automated spam filtering would be my guess. Using a throwaway account with no history probably didn't help.
Don't take/plan to take investment and probably never would unless it was for a specific short-term opportunity.
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I do not want to make assumptions, but because your concerns are regarding potential liability (and rightfully so)if those are single member LLCs (you are the sole owner), then you will not be receiving the limited liability legal protection generally associated with the LLC.
AFAICT, generally (and, of course, as this is mostly a state law question, there will be variations in details from state to state), the single member of a Single Member LLC (SMLLC) receives the same protection from liability as those of a multi-member LLC (or shareholders of a corporation), but in many states an SMLLC is not as protected from liability for the personal debts of its single member as is the case with…
As you state, it is correct the owner will generally be protected from the liabilities of the LLC. With the exception of piercing the corporate veil, alter ego doctrine, ect...
However, single member LLC can be liable for the debts of the sole owner. Meaning the business assets can be attached, charging orders issued and ownership can even be foreclosed. To distinguish if I own stock in say Google or Apple, and I am in a car accident and kill someone and I can't pay a judgement obviously the judgment holder can not collect against Apple/Google even though I am an owner; however, they could collect against an LLC I own if it is single member. Alternatively, if the same LLC was multi-member generally the judgment holder could not satisfy the judgment against the multi-member LLC.
Edit: In fairness, Patio11 expressed concerned about the liability from his LLC flowing to him personally. Nevertheless, I always feel it is relevant to consider personal liability flowing to the LLC.
I also create products on the side like iPhone Apps via the Apple Developer program and Web products like www.helloreminder.com and run them under an LLC for liability protection.
The pressure to create your own company in the tech world is insane. Even during college, I remember one instructor saying that he expected everyone to start a company or two. The problem is that I'm idea bankrupt. Everything I've thought about has been done already. That feeds into the negative feedback/lazyness cycle I'm stuck in.
It's not as negative as you make it seem, having your own company has many benefits and few disadvantages. Most of us probably wouldn't consider working 50-60 hours/week for someone else who can ruin everything with a few bad decisions and reaps most of the profits. Find out what works best for you and your ideas and don't be afraid.
Earlier quoted context omitted.
AFAICT, generally (and, of course, as this is mostly a state law question, there will be variations in details from state to state), the single member of a Single Member LLC (SMLLC) receives the same protection from liability as those of a multi-member LLC (or shareholders of a corporation), but in many states an SMLLC is not as protected from liability for the personal debts of its single member as is the case with…
You bring up a very nuanced point regarding the direction of liability for single member LLC. As you state, it is correct the owner will generally be protected from the liabilities of the LLC. With the exception of piercing the corporate veil, alter ego doctrine, ect... However, single member LLC can be liable for the debts of the sole owner. Meaning the business assets can be attached, charging orders issued and own…
In some jurisdictions, though, single member LLCs, unlike multimember LLCs, do not restrict creditors of the member to these kind of actions against the member's financial interest in the LLC, and allow the member's creditors to seek direct payment from the LLC as if it owed the debt.
(Also, in some states, charging orders aren't the exclusive remedy for members debts against multimember LLCs, either, which one reason you need to know the law of the jurisdiction you plan to operate in.)
Yes, my father is making an LLC for me to publish my apps in. I don't think I'd be able to do it myself since I'm 16
I have an LLC. I took funding from Mark Cuban, based on a product I created that took about three months to put together. I hadn't intended to raise venture capital, but in a spur-of-the-moment type action I emailed him about what I was doing. I didn't even have a number in mind when he replied, so I just came up with something off the top of my head in about five minutes (I tried to be reasonable, and aim a bit lowe…