Contracts = Good … Have it in writing. learned this from personal experience. You need to have a written contract and this is regardless if this is your BFF from elementary school. It is always better to be safe than sorry. Especially, if it means getting threats from FaceBook saying you illegally posted pictures you do not own. Really? Playing it safe is always a amart option, because you never ever can predict down the road and having a mutual meeting of the minds in writing is a good thing (See, Dad … I did retain something from McGeorge).
To Incorporate or Not Incorporate … That is the Question. I know most people are really watching their bottom line in this market, but in this market you still really need to be intelligent and protect yourself. I cannot tell you if incorporation or an LLC is better for your company, but can tell you I know a great lawyer who can. You have to remember that there a bunch of people out there who basically do not care and will go after your assets. I would not want to lose my house over something I did not cover myself business-wise. Wow. Can I be any more depressing or boring? Blech. My point? Be safe and not sorry.
Nice read, I just passed this onto a colleague who was doing some research on that. And he just bought me lunch since I found it for him smile So let me rephrase that: Thank you for lunch!