Note, the FAA normally requires a “builder”
to be a human (same for the name on the repairman certificate). You can register
the “owner” of the aircraft as a non-human entity. However,
future lawsuits could still be directed toward you personally as the “builder”.
Some folks have got a non-human entity listed as the builder with the FAA –
but that is not the normal FAA process/policy.
(only my understanding)
Rick
From: Lancair Mailing List [mailto:lml@lancaironline.net] On Behalf Of Russell
Sent: Thursday, September 20, 2007
8:31 AM
To: lml@lancaironline.net
Subject: [LML] product liability
Years
ago I was involved with the company that manufactured cloth towel cabinets used
in public restrooms. To our surprise kids were hanging in themselves in
the loop of the towel. We had several lawsuits and we were able defend
ourselves. It was very costly. The interesting thing was many of these
cabinets were over 30 to 40 years old and rebuilt by other companies. We
ended up taking steps of plastering warning labels and specials shields on the
cabinets. It seemed to work. But presently you do not see this product on
the market in this country any more.
I’m
about to start building my legacy and I’m very concerned about liability.
Something no one mentioned but I am doing is creating a company for the
aircraft. I am going to build the aircraft under the entity other than
myself. Whenever it’s time to depart with the aircraft the company
will be sold with its assets. It happens to be the only asset will be the
aircraft. After putting my blood sweat and tears into this project there
is no way I can take a chainsaw to it. So creating layers of protection
is the only way to cover ones behind.
Russell