Re:Ask HN: Should I incorporate a company for software side ...
by derekp7 on Saturday October 06, 2018 @01:41PM
(#18156299)
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).
Re:Ask HN: Should I incorporate a company for software side ...
by tommoor on Saturday October 06, 2018 @11:40AM
(#18155659)
> i'm not a lawyer, and this is not legal advice, i know nothing of eu laws either
Why do you feel the need to comment then?
Re:Ask HN: Should I incorporate a company for software side ...
by ___cs____ on Saturday October 06, 2018 @10:24AM
(#18155267)
> i would strongly suggest getting a lawyer to handle this.
As stated above, I couldn't find one, someone who can deal with tech-y stuffs here in my area.
Re:Ask HN: Should I incorporate a company for software side ...
by unilynx on Saturday October 06, 2018 @10:34AM
(#18155318)
why do you need a tech-y lawyer? I'd look for a fiscal advisor, because this is mostly about getting your tax liabilities right. And they should know enough about forming companies.
i can suggest, however, the main things to consider are separating your personal and business income tax and absolving yourself of personal liability in case something overbearing happens like a lawsuit, these are good things of incorporating.
again, i'm not a lawyer, and this is not legal advice, i know nothing of eu laws either.