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While setting up a corporation without the help of an attorney is possible, you may want to take a look at all the variables before deciding to embark on this adventure by yourself. Aside from a corporation being a different legal structure than a partnership, LP or an LLP, there are different legal structures within the corporate form as well.
→ Read MoreThe actual formal process of creating a corporation is known as incorporation. The process involves completing and filing a Certificate of Incorporation or Articles of Incorporation and paying a filing fee. Each state has its own set of laws governing the process of incorporating. Corporate existence starts when the Articles of Incorporation are filed with the state office that handles incorporations (e.g., usually the Secretary of State or Corporation Commissioner), along with the required filing fees. Accelerated incorporations or same day filings are available in some states.
→ Read MoreThe process of choosing a state to incorporate an Internet business is not substantially different than choosing where to incorporate a brick and mortar business. You must first ask yourself where you will be conducting all or the majority of your business. You should also consider other business issues such as privacy and tax benefits.
→ Read MoreIf you choose to incorporate outside of your home state, you will have to qualify as a foreign corporation in your own home state. For example, suppose you form your corporation in Delaware, Wyoming or Nevada. These are the most popular states for incorporating, but are physically present in another state. This means your business will be a foreign corporation in your home state.
→ Read MoreThere are many benefits of incorporating, ranging from liability protection to tax benefits. The primary reason many businesses incorporate is limited liability. Both corporations and LLCs allow owners to separate and protect their personal assets.
→ Read MoreCorporate status, or a corporation business structure, may be the right choice for a business you intend to start, but establishing and maintaining corporate status may involve some careful decision making on your part. If you have already started a business, you may change its legal entity in order to gain corporate status if you wish.
→ Read MoreDepending on the company, the board of directors and officers can be made up of the same individuals. The board of directors and officers often work together closely, but play very different roles in the corporation. The board of directors is also referred to just directors.
→ Read MoreDetermining the value of a business’ intangible assets can be a challenge. Following is a brief discussion of some types of intangible assets and factors affecting their value.
→ Read MoreFind the right lawyer for your legal issue.
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