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What is the name of your state? Oklahoma
I'm anticipating forming an LLC in my home state, Oklahoma.
I will provide a design service via the internet.
I expect to do business in all 50-states.
There will be no money borrowed and only a very few thousand dollars initial investment of my personal money.
I will design machinery that will be capable of injuring those who use it.
I will have no control over the implementation of the design. A failure may bring into contention whether it was my design or their execution that was at fault.
Will it be necessary for me to purchase some type of insurance to insure my personal assets are protected in the event some claim is filed against the LLC?
I'm anticipating forming an LLC in my home state, Oklahoma.
I will provide a design service via the internet.
I expect to do business in all 50-states.
There will be no money borrowed and only a very few thousand dollars initial investment of my personal money.
I will design machinery that will be capable of injuring those who use it.
I will have no control over the implementation of the design. A failure may bring into contention whether it was my design or their execution that was at fault.
Will it be necessary for me to purchase some type of insurance to insure my personal assets are protected in the event some claim is filed against the LLC?