Hello,
I live in California. In the past few years I have made about $200,000 on YouTube from creating content that I feel is “Fair Use” of others’ copyrighted material. My concern is that I might get sued some day by the copyright holder. If I were to lose the case, I’m assuming I might be forced to pay some or all of that money back. Any money that I have made so far has gone into my personal accounts.
Would setting up an LLC in any way protect the money I have made in the past or will make in the future? For example, if I set up an LLC today and for the month of January 2017 I make $6000, can I route the $6000 from the LLC to my personal account. So whatever I could be sued for would be what is in the LLC, which would be little or nothing.
Thanks a lot for any advice.
I live in California. In the past few years I have made about $200,000 on YouTube from creating content that I feel is “Fair Use” of others’ copyrighted material. My concern is that I might get sued some day by the copyright holder. If I were to lose the case, I’m assuming I might be forced to pay some or all of that money back. Any money that I have made so far has gone into my personal accounts.
Would setting up an LLC in any way protect the money I have made in the past or will make in the future? For example, if I set up an LLC today and for the month of January 2017 I make $6000, can I route the $6000 from the LLC to my personal account. So whatever I could be sued for would be what is in the LLC, which would be little or nothing.
Thanks a lot for any advice.