Free advice for entrepreneurs ...

Not legal advice, go speak with a lawyer if you want that. And understand that they have a vested interest in an alternative position to what I say below. When forming a startup, do not, unless you are a glutton for punishment, use an LLC structure, and run as far away, as rapidly as possible, from people who suggest you should use it. Lawyers love LLCs as you have to keep coming back to them for any change. LLCs have a few interesting drawbacks. Such as if your startup makes a profit, and you have more than one owner. Then they (LLCs) are very, very bad. Especially on 15-April in the US. Working on fixing that now for the day job.