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Re: Off topic - Inc. or not to Inc.

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I am not an attorney, but here is the way I understand the situation. 
 
Incorporation (substitute LLC, LLP or whatever) will not provide protection for professional issues.  You cannot "incorporate" out of your professional responsibilities and / or liabilities.  Incorporation will shield your personal assets from any of the other business related liabilities (any form of employee related claims like sexual harassment, injury on the job, etc; or general liability such as an accident in the company car, and contractual issues as examples).
 
The other problem is as a one man show you must be very careful to maintain working separation between corporation and personal related items and financing.  A good attorney will try and pierce the corporate shell if the corporation is too "closely held".
 
The best advice would be to discuss your situation with a competent lawyer in conjunction with a tax accountant to establish the best structure to protect the company's and your personal assets.
 
----- Original Message -----
Sent: Monday, March 24, 2003 7:22 AM
Subject: Off topic - Inc. or not to Inc.

List,
In California do the protections afforded to LLC, Corps, Inc''s protect the engineer of records personal assets? Specific question is if you are incorporated or LLC but operate with no employees, every thing is contracted employee wise, and someone comes after you are they limited to just taking the company assets and not your personals. I am certain if you have been criminal, negligent, or incompetent,  Consumer Affairs will get involved but disregarding that does incorporating protect personals when your the only guy in the corp?
Thanks to all,
Bob Hanson
Bellflower, California