Fwd: [Noisebridge-discuss] Insurance notes

[Paul Böhm]

On Jan 24, 2008 11:53 PM, David Molnar <dmolnar at eecs.berkeley.edu> wrote:
> A second consideration is that we will have discussions soon on what
> kind of legal entity we want to form for the purpose of taking the lease
> on property. Do we have a "doing business as" with a few named
> individuals on the lease, do we form an LLC, do we do a nonprofit
> corporation, etc. My thought was that our choice there might have
> insurance implications and so we'd better find out. It turns out in fact
> that nonprofits have a different pool of underwriters than for-profit
> entities, although both can obtain insurance. I'm asking agents for
> quotes in the different cases.

i'd totally avoid tying anything to individuals in the lease: i don't
know a single space where this has worked, but plenty of stories where
this alone sufficed to make the place fail. i've even seen domain name
owners blackmail the club they founded, over a /technical/
disagreement with the current staff. crazy. so transfer all assets to
the org asap.

paul