I was thinking of starting an LLC to sell products. I have heard that an LLC's owner can't be too personally linked to the LLC, or he could lose the lawsuit immunity that the LLC gives him. I have some questions.
1. Is it okay for the LLC's name to contain my initials (something like MEC Wholesale), or would that make me too personally linked to the LLC?
2. Even if it is relatively safe for the LLC's name to contain my initials, would it be even safer to not use my initials, or should using my initials not matter?
1 Answer from Attorneys
It makes no difference what you call the LLC. The key is separability making sure you are not comingling funds and assets with yourself personally as well as adhering to whatever formalities are required which for an LLC are few.
Before you jump into anything, I suggest that you consult with a lawyer in private and discuss your objectives in more detail. You can start by calling around to several for a free phone consultation, get some insights then pick the best fit to work with.
If you would like to discuss further over a free phone consult, feel free to contact me anytime that is convenient.
Our firm is now referred by the American Bar Association (see under the New York section): http://www.americanbar.org/groups/delivery_legal_services/resources/programs_to_help_those_with_moderate_income.html
DISCLAIMER: this is not intended to be specific legal advice and should not be relied upon as such. No attorney-client relationship is formed on the basis of this posting.
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