INCORPORATING YOUR BUSINESS THE MOST APPROPRIATE WAY

2007-03-08 10:33:40

( Business )



In almost every state, the incorporating process can be completed in three ways: you can incorporate your business on your own, engage a lawyer, or use an incorporating services provider. To determine what move to make, you must know the pros and cons of each method.

If you choose to incorporate yourself, you would have to do all of the paperwork on your own. Hence, it is important that you understand all the requirements of the state where you want to incorporate in. This is the least expensive way to incorporate a business, but doing everything without the assistance of a professional can be quite overwhelming.

Another alternative is to hire an attorney. Aside from drawing up your corporate documents, a lawyer can also provide advice on some major points on the incorporating process. Professional counsel is very valuable especially if you are forming a complex corporate structure. Problem is incorporation can be time-consuming, while most lawyers charge by the hour. That introduces the possibility of facing a very pricey legal bill.

Lastly, you can use an incorporation company. All you have to do is submit the necessary information to your incorporation service provider. The incorporation company will check the availability of your desired corporate name, prepare and file the Articles of Incorporation, and pay the incorporating fees on your behalf. Resident agent services in your intended state of incorporation may also be granted upon your request. Because of service fees, this method is more costly than incorporating on your own, but is definitely cheaper than employing an attorney.

So what is your biggest concern in incorporating your business? Is it the time it would take, the expenses involved, or the complexity of your corporate structure? Once you’ve figured that out, it would be easier to decide which option suits your business the most.


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