Solistia Posted July 23, 2018 Share Posted July 23, 2018 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? Quote Link to comment Share on other sites More sharing options...
judda Posted July 23, 2018 Share Posted July 23, 2018 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: Freelancing IcePets.Com 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. Quote Link to comment Share on other sites More sharing options...
Hare Posted July 26, 2018 Share Posted July 26, 2018 (edited) The LLC is to protect you. If there is a legal situation, the LLC gets sued (not you). Edited July 26, 2018 by Hare Quote Link to comment Share on other sites More sharing options...
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