Q: I am self-publishing a book with a co-author. Do we need an LLC to protect our personal assets from unforseen problems?
A: Yes, any time you are running a business of any type, you want to keep your business and business assets and liabilities separate from your personal matters. You accomplish this by properly setting up the business and keeping personal and business assets separate and creating an Operating Agreement for your LLC amongst other things. A conversation with a Florida Business Attorney to set this up would be a wise and useful undertaking. Properly fund your business, carry proper insurance and keep business and personal account separate always. Failure to do this properly can have consequences (see Piercing the Corporate veil articles and topics online for reference).
A: Forming an LLC can provide personal asset protection for you and your co-author in case of legal issues related to your self-published book. It separates your personal assets from business liabilities, reducing personal risk. Consult with a business attorney to determine if an LLC is the best legal structure for your specific publishing venture and to ensure compliance with state laws.
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