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The Business of Knife Making A forum dedicated to all aspects of running, managing and legal operational issues relating to the custom knife making and custom knife selling industry.

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Old 02-08-2007, 07:52 PM
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garrisonknife garrisonknife is offline
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Question Legal Issues?

I am taking a course at college right now that deals with a lot of the legal issues that businesses and entrepreneurs face. We just recently discussed the different forms of business such as corporations, LLCs, LLPs, sole proprietorships ...etc All of these types were designed around minimizing the liability of the owners. It seems to me that knife making would be an industry that is potentially open to a lot of liability and I haven't noticed many, if any knife makers who have done anything to protect themselves.

I guess I am just curious if anyone has had problems in this area or why nobody seems worried about it. I've sold a few knives on ebay and I've always worried that someone would hurt themself and then try to blame me for it.

Any thoughts on the matter would be great. Thanks!


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Old 02-09-2007, 09:07 PM
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tmickley tmickley is offline
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I set up an LLC for my fledgling knife supply business because I felt my exposure would warrant the extra expense. I always worried about selling a knife to a knot head that would come back on me but I took the risk and though I could successfully defend myself in court since I didn't make tacticals. If I kicked out a ton of knives a year, I'd set up an LLC.
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Old 02-09-2007, 10:40 PM
EdStreet EdStreet is offline
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I have an S corp for my work (non-knife related) and a few things I have learned over the years is in regards to liability if you give the customer a good service, do the job correct and give them what they want to the best possible way you can virtually eliminate liability issues.

All to many people get caught up in liability issues and forget the main issue. Liability issues results when people fail to take responsibility and provide a good quality service.

Also another issue is if its just a single person then it really doesn't matter what type of corp you establish because 'the company' and the person is the same. Yes there is some buffering but in the end it really doesn't matter. The only real advantage is tax purposes.

Ed


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