Digital Web Magazine - Building Your Own Start-up Technology ...
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Saved by 3 people (-2 private), first by anonymouse user on 2007-10-23
- Pwringger on 2009-02-10 - Tags From , Internet , Explorer
- Fortyseven on 2007-10-23 - Tags no_tag
- Abrudtkuhl on 2006-04-11 - Tags howto , business , startup , article , digitalweb
Public Sticky notes
It is going to cost you money to incorporate. Even if you do it yourself, it is going to cost hundreds of dollars.
Highlighted by fortyseven
Unless you plan to go public at some point—that is, sell common shares of your company on a recognized open market, like Google did last year—you should incorporate as a limited liability company (LLC). It is cheaper and easier for both the company and its principals to do so. Unless you think you might go public, or if you just can’t imagine your company without the magical “Inc.” on the end, make it an LLC. You’ll thank me later.
Highlighted by fortyseven
appoint a registered agent, an entity that any legal requests or correspondence will be sent to
Highlighted by fortyseven
don’t skimp on the legal protection of your company—retain an attorney
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An experienced attorney does more than just provide legalese, and will help you envision where your company is going in a practical and realistic way.
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While you can get some of these things from books or software, ultimately the advice of a person who is local to your area and knowledgeable about the law and small businesses like yours can add tremendous value beyond just provision of generic forms. Expect to pay a retainer—prepayment for future services, the way most attorneys do business—between $1,500 and $5,000.
Highlighted by fortyseven
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