QUESTION
Can I be sued and should I convert to corp to protect my assets.
Asked on Jul 21st, 2015 on Business Law - California
More details to this question:
I own a sole proprietorship that is a band booking agency. I recently ended a contract with a venue/customer because they did not want to pay me to book their music. Now they are saying that the musicians I attained while working for/with them are their musicians an not "owned" by me. They also said they will sue me for something... If i convert to a corp now is it too late to protect my assets in case I do get sued. Also I had contracts with them so im sure I could win the case if it goes to that.
1 ANSWER
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Doland & Fraade
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It's a great question but more complex than it appeals. Any competent attorney would want to interview you and review the contract.
Forming a corporation or LLC after you are sued or on notice of the likelihood of being sued could later be set aside as a fraudulent conveyance.
Answered on Jul 21st, 2015 at 9:44 AM