My business partner and I are working on a social networking website. We want to form an LLC to protect us from unforeseen events, but we are unsure if it is necessary?
Does anyone have experience or knowledge related to our dilemma? How much protection do web site owners or social networking websites need? Is a gold plated LLC through something like Legal Zoom necessary or will a standard one be sufficient?
Please excuse my ignorance, as this is all new to us. Thank you in advance for your thoughts.