QUESTION

Do I need a lawyer to start an LLC

Asked on Jul 10th, 2015 on Business Law - Tennessee
More details to this question:
I'm starting a restaurant do I need a lawyer to start my own LLC
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1 ANSWER

Bankruptcy Attorney serving Tullahoma, TN at Labar Law PLLC
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The answer I would say is that 100%, you will need to have some type of entity for your restaurant.  Whether this will be an LLC or a Corporation (generally a Subchapter S [Small Business corporation]), will be determined by analyzing the insurance issues, filing fees, and type of tax filings (depending on the ownership of the real estate, we may also be able to save you significant money on taxes) to make sure that you only spend what is necessary while having liability protection. Liability protection is important because you will have workers who could have injuries as well as customers who could have accidents (slip and falls, etc.) on the premises.  Insurance only covers certain instances and then only up to the insurance limits. Without an entity, you are a sole proprietorship (or a partnership is you are doing this with a spouse), and therefore all of your personal assets could be at risk in case of an instance of liability with respect to the restaurant. I ran a restaurant in both Chattanooga and Atlanta before lawschool and I know how much hardwork it can be, but also how rewarding it can be.  Good Luck. John R. LaBar This answer is for general informational purposes only and is not intended to constitute legal advice or a recommended course of action in any given situation. This answer is not intended to be, and should not be, relied upon by the recipient in making decisions of a legal nature with respect to the issues discussed herein. The recipient is encouraged to consult independent counsel before making any decisions or taking any action concerning the matters in this answer. This answer does not create an attorney-client relationship between the author (John R. LaBar)/Henry, McCord, Bean, Miller, Gabriel & LaBar, P.L.L.C. and the recipient.  
Answered on Jul 11th, 2015 at 3:58 PM

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