Also, I experimented with OMD’s Tea line last year, and it’s sold under OMD’s brand. OMD holds the license and insurance and took on the risk + expenses + profit.
However, I’m likely going to establish a separate LLC for it this year if I expand to a line with a co-packer simply to make the brand cleaner. I’m pursuing a trademark for it and I’m going to have the new LLC hold that.
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Ok, so what I’m hearing is:
- Liability business insurance for freelancing stuff, but don’t need a “company” per se.
- Separate the cottage foods/homesteading stuff into a separate category, so that profits and deductions for such things are clearly related and food-type liability insurance is confined to this entity.
- May want an LLC with insurance if I’m making any kind of apps to publish on my own that might store user data or have a risk of any security breach or vulnerability.
Forgot to mention notary public as another potential income stream but I can probably look up what is recommended for insurance particular to that.
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