Most fishing businesses are organized as "sole proprietorships", where the business owner and business activities are the same, and the owner is responsible for all liabilities of the business. There are several other options for organizing your business, however.
The podcast below explains various business structures you might consider (including proprietorships, partnerships, limited liability partnerships and corporations), as well as an extensive discussion of how liability is defined in maritime law.
Speakers are Alaska Sea Grant's former business specialist, Glenn Haight, and Mark Manning, a maritime attorney practicing in Anchorage, Alaska.
Note: Forming a specific business structure is complex, and should be done in consultation with a CPA, an attorney or other professionals.
Business structures in the State of Alaska
For a broad discussion of state requirements for various business structures, download the Alaska Department of Commerce, Community and Economic Development publication "Establishing a Business in Alaska."
In this podcast, Maritime attorney Mark Manning, Anchorage, AK, joins former Alaska Sea Grant business specialist Glenn Haight to review business structures including proprietorships, limited liability partnerships, and corporations, as well as an extensive discussion of liability within maritime law. (44 minutes)