Not good or bad news. Well, actually that depends. So the video is up, but here’s some more details on the what is what.
Everything is a logistical problem. And every regulatory body I’ve talked to is flaky, not clear, or unresponsive. So while seeking advice from people who have seen more than me in the startup space I honestly didn’t get any of the questions I wanted answered. I kept getting more information on area’s that I didn’t see as directly relevant. I always saw them as as prevue problems. Something got to me though. It wormed it’s way into my ears.
LIABILITY
UGH. Nobody sets out thinking they’ll build a product or idea thinking “why yes, these fees, bureaucracy, paperwork are exactly the delays I wanted”. I’ve been operating as self-employed since I moved back to Canada. This changes how taxes are filed effectively and very little more. However, that means if I sell anything under “me” means unlimited liability. This isn’t legal advice but my understanding is say I sell one of these things and 20 years later the company is gone, the product failed, etc. Well that liability doesn’t go away. It stops when I die. However a corporation can be born and die as a legal entity much easier. When a corporation is born, it costs a lot of money up front. Think decent bike money. There is a transference of liability, and the board is sort of “personally” responsible for the company, but the company can be shut down, thus killing the legal entity. This makes it very hard for liability to go after anyone else.
Okay, so after much research I’ve incorporated as Titan Lab Inc. But now I have a few more hurdles to get through on that front.
The upside is a couple of people are interested in helping with some of the projects and one specifically with the fan controller. That’s totally exciting!