Legal Question in Business Law in Florida
To LLC or not LLC
My friend and I have been asked to write some e-commerce software for a group of investors. Since we are not a legal business, do we need to form one before accepting the contract or can the contract stipulate the legal ramifications of not fulfilling the contract. We are just making sure that if the worst-case scenario ever happens, the investors don't try to take everything we own.
Asked on 3/13/03, 10:24 am
1 Answer from Attorneys
David Slater
David P. Slater, Esq.
Re: To LLC or not LLC
When you do business in your own name as a sole proprietorship you expose your self to unlimited personal liability. It is much better to Incorporate or form an LLC. Good luck.
Answered on 3/13/03, 12:02 pm
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