How far does the liability protection of an LLC really extend?

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This topic contains 0 replies, has 1 voice, and was last updated by  Anonymous 5 years, 9 months ago.

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    Anonymous

    Hey there,

    I’m a 20 year old business student at a major university and have recently started planning out this idea. I want to lease a small space to run a very small concert venue out of, for more underground styles of music. The capacity of the building is no more than 250-300 people.

    I’ve got every aspect of it planned out, and have already been involved in the music industry since my early teens so I’ve got a decent foundation of knowledge and experience of the music business on a small scale. Financially I am capable of doing this, and have already got enough interest in it to possibly make it quite successful.

    My dad thinks this idea is only going to land me in legal trouble. This concert venue would be registered as an LLC, but how much protection does that really provide? What if, just assuming for worst case scenario purposes, someone gets hurt or dies and its something insurance won’t cover. Is this protected under the LLC?

    Thanks, looking forward to responses.

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