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by derekp7
2813 days ago
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I've been doing some research (from a US perspective) on this topic. From what I've read, a single-person corporation only shields you from things like not being able to pay back a business loan, or paying suppliers, etc. But it doesn't necessarily shield your personal assets from liability lawsuits, since the person who is responsible for the potentially liable action is the same as the company, and is the same as 100% of the shareholders. To get that protection, your best bet is to have a good umbrella insurance policy, along with having a lawyer draft appropriate terms and conditions for your services (such as "this software is not guaranteed to be fit for any purpose, and should not be used for any purpose", but worded a bit different). |
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