Asset Protection
 

Business Model Question:

How does a content producer best go about protecting one's assets, in the event that someone does sue for some reason?

In California, an LLC has an $800 per year tax liability just for existing. Obviously, I hope to make a lot more than $800 each year, but supposing I don't, at least at first, what other options do I have for protecting my personal assets from seizure by the business' potential liabilities?

Delaware LLCs are fairly inexpensive, $300 a year and no taxes. They take the $300 a year basically as a fee in lieu of the taxes. They also provide complete privacy of LLC ownership.

Ultimately though you should be checking with a lawyer and see what they think. May cost you a few pennies, but will be less than losing your ass.

Agreed.

But, what if I don't live in Delaware? I've looked into this to some extent already, and it seems that, if I am doing business in California - and I would think that shooting my content here would be considered "doing business" - I have to have a California LLC.

Am I wrong? In this case I'd love to hear that I am. :)

1) How do your agreements look right now for all the people you do business with?

2) Have you considered professional liability insurance?

Having a corporate shield is great but avoiding a legal issue all together is even better.

I agree, if you are serious about protecting yourself, speak with a lawyer. It may cost you a few fucks up front, but worth it to remove the stress of worrying.