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Richard
Richard, Attorney
Category: Business Law
Satisfied Customers: 54554
Experience:  32 years of experience practicing law and a businessman.
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im starting small business where i own arcade game called boxer,money

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im starting small business where i own arcade game called boxer,money is inserted and a punching bag drops down and you punch it for strength and speed .i will own the machines but they will be placed in various diferent bars and nightclubs owned by someone else .i have no employees .my qeustion is would it be stupid not to carry liability insurance?
Submitted: 6 years ago.
Category: Business Law
Expert:  Richard replied 6 years ago.

Good evening. I would organize your business as a limited liability entity...such as a limited liability company or an S Corporation. Then, because that would protect your other personal assets from the debts and liabilities of your entity, you would choose not to carry liability insurance without worry for the risk of anything but the assets in the business.

 

 

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The information given here is not legal advice. As all states have different intricacies in their laws, the information given is general only. This communication does not establish an attorney-client relationship with you. I hope this answer has been helpful to you.

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