The best way to protect yourself is to obtain the services of a trusted attorney, who can learn about your business goals and advise you as to entity formation and insurance issues.
Disclaimer: This answer is provided as a public service and as a general response to a general question, it is not meant, and should not be relied upon as specific legal advice, nor does it create an attorney-client relationship.
Generally an LLC that is properly setup can offer greater protections than a corporation. You should discuss your personal situation with an attorney. A generic LLC may not offer any additional protection over a corporation.
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