[fourply]

This is just flatly bad advice. Entity selection and the decisions that come with it should be made very early in the process or it can have very negative unforeseen consequences down the road.

Education and clarity is important in any new business venture, especially one that involves multiple parties. If nothing else, a good buy-sell agreement is crucial in avoiding misunderstanding and back blood if one party wants out.

Liability protection is also hugely important. What startup doesn't need a bank account? Separation of entity an personal assets and liability is a big deal and should be meticulously maintained and documented from inception. This discipline is hard to pick up late in the game, and there's no reason for it.

Also, if your attorney is recommending a C corp as your best choice of entity, you either have a very unusual situation or a bad attorney.