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Question on Legal Entities in Pet Games

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I have seen on other websites such as Subeta, Flight Rising, and Aywas, that in addition to their legal entity for that particular petsite, they also have created umbrella companies under which their petsite resides. What would be the purpose in creating an umbrella company in addition to the legal entity (LLC or otherwise) of the Petsite Group itself?

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The umbrella company is something that I plan to do in the upcoming months.

Please Note: I live in Canada - so some of this may not apply to you.

If I make an incorporation for my "brand", I separate my personal assets from the company (therefore protecting me from losing everything).  I will then spawn off several different companies from this incorporation.

For now, they will be:

  1. Freelancing
  2. IcePets.Com
  3. CheckItOn.Us

With the intention of adding more as I build up more sites.  With it, I will also be able to write off some purchases (or portions of them) during tax season.

In essence, the LLC/Incorporation helps protect you, and by using that, you can have other companies under it which have the same protection because of the parent brand.

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