Legal Question in Technology Law in West Virginia
internet business
If I'm starting an internet business,
should I incorporate or llc? I just
want to protect the things I own if the internet business goes downhill.
2 Answers from Attorneys
Re: internet business
I almost always recommend setting up an LLC for any Internet Business.
But even more importantly, make sure your site is legal from an IP standpoint ( TM and copyright issues.)
Finally, the most important issue is your online TOU provisions. I make the most money when clients come to me after they have started online and run into trouble without the proper TOU provisions.
Re: internet business
Start with the LLC and you get several advantages: (1) Less work to form the entity; (2) You get the protection you need; and (3) You can turn it into an INC later, if so desired. Starting with an INC: (1) More work to form; (2) Cannot drop back to an LLC later on. There are many other areas to consider, but this should give you a taste.