|
|
|
|
|
|
by lindsayrgwatt
6952 days ago
|
|
|
If all you want to do is incorporate and you are going to be the sole shareholder, you can do it via an Internet service. Lawyers are useful if you need anything more complex than this e.g., agreements for the initial shareholders, stock options agreements, etc. If all you're doing is creating a corporation for legal protection, then do it yourself. One word of advice though, think through how many shares you want to issue. If you're going to offer stock options, then issue a huge number - like 10 million. If you don't think you'll need options, then go for just a few. If you pick too few now, you'll need to hire a laywer in the future to help you with a stock split or share issue to increase the number of shares. Also, one other word: if you're just incorporating for yourself and don't plan on getting any venture funding in the foreseeable future, incorporate as an LLC so you can pass the tax losses from your company on to your personal taxes. |
|
|
Since you're incorporating in Delaware, keep in mind that Delaware taxes are calculated based on the number of shares you authorize. You could end up paying tens of thousands of dollars in taxes (http://www.corp.delaware.gov/frtaxcalc.shtml).
I used incorporate.com and they cost about $200 or so for a Delaware corporation, and I would recommend them. If you're the sole owner then there is not much to worry about. After you incorporate, you can have your "accountant" look at the documents and tell you if you're missing something. They usually know how these things work. You don't necessarily need an attorney at this early stage.