Incorporate A Company - Useful Information

2007-03-08 10:33:40

( Business )



INCORPORATE A COMPANY

KNOWING THE RULES OF INCORPORATING
When it comes to incorporating a company, the place determines the procedure. If you plan to incorporate a company locally; local rules will govern. If you plan to do so in a foreign country, that country’s rules will govern. There is usually one government agency in charge of incorporating companies. Go to the agency’s website to find out the specific rules. Before you do, here’s a quick overview of some of the basics:

HAVING (CORPORATE) PERSONALITY.
Legally speaking, your corporation will have personality. This doesn’t mean your company will be charming; it means it will be a person in the eyes of the law. When you incorporate a company, that company will be separate from you. It will be able to own property, keep money, and make purchases on its own.

STRENGTH IN NUMBERS
Companies and corporations do not consist of only one person. Some countries require a minimum of five persons to start a company. The rules will tell you how many people will be required.

NAME YOUR COMPANY
Your company will need a good name to go by. When it comes to names, there may be intellectual property issues, so stay clear of names that are already tied to specific well known brands or companies. Be original.

INCORPORATION SERVICES
Some law firms offer incorporation services; these firms will assist you in meeting all the requirements of the government. If you have the funds, procuring incorporation services from a private firm can save you lots of time.

INCORPORATE ONLINE
Some advanced states allow you to incorporate online. The agency in charge of this usually has a website that will guide you through this process. These options are available in advanced countries like the United States. This is another reason why many companies incorporate in Nevada and Delaware, where this option is already available.

LOCATION IS KEY
Certain locations provide incentives to those who wish to incorporate. For example, many people incorporate in Delaware because that state has lenient coporation laws. For those who want to incorporate a business, choosing the right location may provide a lighter tax load on profits.

KNOWLEDGE IS POWER
Remember, you must follow all the rules of incorporation. The place determines the procedure, so find out the rules from the right source. When it comes to the specifics, do not trust secondhand information. Good luck!


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