Hey
I am looking for some advice on what state and what type of entity I should chose for my business. I do not have the extra money to go to a lawyer about this, so I thought some of you may know the best choice :D
Business:
Online Social Networking Website
Revenue:
Ad Revenue and T-Shirt Sales
Location:
Online
Partners:
Me + One other
Employees:
For now, just contractual
So, based on the above info where / what would you use to protect your business / money?
I am also looking to use http://www.incorporate.com/ as my service for incorporating. Anyone have any experience with them?
Thanks!
Sounds like an LLC would fit the bill best.
I have to caution you against forgoing a lawyer though, especially if you have a partner. Everything might be rosy right now, but people get squirrelly about money down the line. It's better to have every eventuality in black and white going into it.
I agree with Eddie. Your friend might be solid now, but people can change over time. We all know one dude who became a douche after he got the girl friend from hell. People get greedy...
Lawyer is key. If you don't end up getting a lawyer, which is a bad business decision, there are a number of sites that provide free or cheap contracts/legal documents. Look into it.
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