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by SStephano
2575 days ago
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I strongly recommend waiting until you get to one of these stages: 1. Formal agreement between partners on project - Time is your most valuable asset so if you are investing into the project with additional persons it's best to formalize structure once you've made an agreement and are at a place where you are each committing 10+ hours per week 2. Monetary Investment is being made - At the point that meaningful monetary investment is made which I would pin at $10,000. The cost to formalize an LLC in California is $800 + minor costs so setting aside 10% of your initial spend on formalizing is money well spent 3. Take on any outside investment from anybody - You need an ivnestment vehicle so the second you decide to raise $5,000 from your Uncle Larry it's time to open the LLC I really like your idea of unifying projects in 1 LLC then spinning them on success. You can also create a unique DBA for each project and this is very effective. Hope this helps. Best,
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