3Dec/080
Protecting Your Assets
If you live in the U.S., consider incorporating or forming an LLC. I formed an LLC while living in South Carolina for only $100. My gains from this relatively small fee were:
- Personal Asset Protection - I did not have to worry about losing my house and income.
- Business Name Protection- I did not have to worry about someone else stealing my name.
- Tax Advantages - this depends on your own circumstances
- Credibility - If you have "Inc." or "LLC" after your name, this compensates a bit for your small-business image, especially if you are home-based.
Research business insurance.
Finally, get a lawyer-reviewed work signoff agreement form releasing you of liability related to all the potential things that can go wrong while working with computers.
In summary, the following work together in a layered shield against trouble:
- carefully handling of the customer's computer
- your legal business structure
- the paperwork you have your customer sign before touching his computer
- your business insurance
I am not a lawyer, and this does not constitute professional legal advice, so you should seek out a professional lawyer to help with all legal decisions.
