10 {{ upvoteCount | shortNum }}
10 {{ upvoteCount | shortNum }}

How should I Setup My Business Licenses?

by empmdk
8 replies
I am the co-founder of a startup for IT services. We do web hosting, web design, game servers, tech blog, etc. We also focus on local IT services for home and business. It is based in USA, however we have a couple people working with us in the UK (4 total).


I set us up as a general partnership a while back and I have a feeling that isn't the right way to go with everything we do. Does anyone here have any suggestions as to what I should do further?
Suggestions as to what business license I should really go for and trademarking/copyrighting.


Thanks heaps in advance!
#business #license #licenses #setup
  • Profile picture of the author agmccall
    Yes, First. Don't ask strangers at a marketing forum legal questions.

    Contact your lawyer and Accountant for the proper setup of "YOUR" business

    al
    Signature

    "Opportunity is missed by most people because it is dressed in overalls and looks like work." Thomas Edison

    {{ DiscussionBoard.errors[10738171].message }}
  • Profile picture of the author Rose Anderson
    Your state and county probably have webpages that will give you basic information of what's required in your locality.

    But Al is correct. You need to speak to a lawyer or an accountant to be sure you're doing everything correct.

    Rose
    {{ DiscussionBoard.errors[10738192].message }}
  • Profile picture of the author Steve B
    I agree with what the others have said about getting competent professional legal assistance.

    How you set things up is important because it will partially affect your own liability, where the assets of the business lie, and the tax structure that you will be under. Don't treat this stuff lightly. There will be a cost but in most cases you can treat it as a business expense against your income.

    Steve
    Signature

    Steve Browne, online business strategies, tips, guidance, and resources
    SteveBrowneDirect

    {{ DiscussionBoard.errors[10738206].message }}
  • Profile picture of the author empmdk
    I posted this question here because I understand this forum has a lot of entrepreneurs around and figured someone here has done a similar thing to us.


    Thank you all for the replies and information. Would any of you recommend Legal Zoom to handle these things?
    {{ DiscussionBoard.errors[10738247].message }}
    • Profile picture of the author agmccall
      Originally Posted by empmdk View Post

      I posted this question here because I understand this forum has a lot of entrepreneurs around and figured someone here has done a similar thing to us.
      We all have and most of us have gotten that type of advice from the proper professionals.

      Originally Posted by empmdk View Post

      Thank you all for the replies and information. Would any of you recommend Legal Zoom to handle these things?
      They do not give advice. They only provide the means for you to do it yourself. IF you want someone to make sure it is set up properly then seek out a local professional. It will not cost that much. I think legal zoom actually has a referral network, although, I am not sure it has been a while since I was on their site..

      Just look for a attorney that focuses on business and accounting, I had mine set up by a CPA for about $500.00

      al
      Signature

      "Opportunity is missed by most people because it is dressed in overalls and looks like work." Thomas Edison

      {{ DiscussionBoard.errors[10739684].message }}
  • Profile picture of the author onlinelawyer
    I'm a lawyer. Whether you are a general partnership or something else, it is vitally important that you have a partnership agreement in place. I agree with everyone else that you should seek the help of a lawyer to draw this up for you. Chances are they will see issues and problems that you would never have considered.
    {{ DiscussionBoard.errors[10759196].message }}
  • Profile picture of the author onlinelawyer
    I'm a lawyer, FYI. Whether you are a general partnership or something else, if you are working with business partners it is vital that you have a partnership agreement of some sort in place. I agree with everyone else who says that you should seek legal counsel for this. The boilerplate agreements on Legalzoom may not provide much protection to your specific business.

    Aside from that, you will probably want to consider an LLC or an S-Corporation for your corporate entity. I don't know anything about your business, but if you have any liability exposure at all (and you probably do if you are doing web hosting), you want to make sure you have corporate protection in place. I would also recommend some sort of business insurance.

    Hope that helps!
    Jim
    Hawthorn Law
    {{ DiscussionBoard.errors[10759214].message }}
  • Profile picture of the author ChrisBa
    I'm not a lawyer, however I recommend speaking with a local lawyer to discuss (online responses are great, but in the end if you need to use your lawyer again, it's good that they have a background)
    Signature
    {{ DiscussionBoard.errors[10759221].message }}

Trending Topics