I have came up with a game idea for an app on facebook and are not sure what direction to take in legal setup. Can anyone think of a reason to setup as a LLC vs Sole Proprietor at least at the start to see how the company goes? Can anyone see any immediate legal actions which could occur before the business become profitable enough to switch to an LLC? Or is everyone assumption here if your not willing to invest to safeguard yourself and the company then its not worth doing. This is what I have heard a lot in the past.
All thoughts are appreciated.
Basically just trying to find out what type of legality is hanging out there with starting a fb app.
Legals for Starting a Facebook App Gaming Company
Limiting liability is the primary reason people incorporate as an LLC, S-Corp, or C-Corp. This will allow you to shield your personal assets from any debt or liability incurred by the company in the distribution of the App. Considering you are talking about releasing on Facebook, it might be a good idea to understand which liabilities you could potentially run into while distributing the app to users (i.e. privacy, copyright, etc.). Obviously talking to a lawyer familiar with the law of your state would be a good idea. Good luck!
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