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If you’re a business owner looking to form an LLC, you’ve probably researched some of the legal requirements. Setting up a Delaware LLC on your own can be complicated, and stressing over the details of your legal structure can take the focus away from your business plan.
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You may be asking yourself if you need to hire an attorney to set up your LLC. Having an LLC attorney represent you may put your mind at ease, but the cost may not make sense for your business. Using an online incorporation service can be an easier and more economical option.
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There are many online incorporation services out there, but they are not all created equal. Incorporation services may vary based on the quality of the internal documents you receive and the level of service you can expect. This usually depends on whether the incorporation service is actually run by lawyers or is just part of a larger company.
How do you decide whether to use an online incorporation service or hire an attorney to set up your Delaware LLC? These are the things you should look for.
Hiring an incorporation attorney experienced in forming and maintaining LLCs is a good way to ensure that your business has a strong legal foundation. However, for many businesses it is not practical or affordable to hire a lawyer.
You can choose a name for your LLC that reflects the type of work your business does, but this is not required. Your business name can simply be your own name. Note that the company name must end in “LLC”.
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It is important to check that the desired LLC name is available before you start spending money on branding your business. can check if your business name is available in Delaware before you create your LLC.
State laws require LLCs to have a registered agent. A registered agent receives important legal notices, such as lawsuits, on behalf of your business. Often these legal notices are time sensitive. A registered agent must forward these messages to you in a timely manner so that you can respond and avoid penalties.
The law requires an LLC’s registered agent to have a physical mailing address (not a PO Box) in the company’s state of formation. The registered agent must be available at the address between 09.00. to 5:00 p.m. Monday through Friday to receive legal notices, also called “Process Service”.
Forming an LLC requires filing a Certificate of Formation (also called “Articles of Association” in some states) with the Secretary of State’s office. The certificate of formation shows general information about the company, for example the company name address of the registered agent. Some states, such as Delaware, do not require LLC owners to include their name or address in their formation documents.
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The LLC Operating Agreement guides how an LLC’s internal affairs are managed. The operating agreement is the internal document that describes the ownership stake of each LLC member and establishes how distributions are made from the company’s profits.
Obtaining an Employee Identification Number (EIN) from the IRS is an important step in starting an LLC. Banks will require an LLC to have an EIN number to open a business bank account.
An online incorporation service will complete the process of forming an LLC for you, often for a fee. This includes filing the certificate of incorporation with the Secretary of State’s office on behalf of your company and serving as the registered agent. An incorporation service can also provide you with internal documents that you need to properly operate your LLC. This includes the LLC Operating Agreement.
Using an incorporation service can simplify the LLC formation process. Often, these services require you to simply fill out an electronic form with basic information about your business, as well as your contact information. An incorporation service can file your company’s incorporation documents with just a few clicks without the need to contact the Secretary of State’s office.
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An incorporation service may be able to help you obtain an Employer Identification Number (EIN) for your LLC by filing a Form SS4 with the IRS on your behalf.
Incorporation services can be like fast food chains. What they offer may be similar, but they may vary in both quality and service.
Some online incorporation services are just “robo services” that simply take your information, fill out the necessary forms and file them. Even if a real person completes the initial filing for you, these services may not have incorporation specialists who can answer important questions. When it comes to forming an LLC, you want an incorporation service that is big enough to help but small enough to care.
Another problem is that not many online incorporation services are actually run by lawyers. This often affects the quality of the internal documents they provide you with. Many incorporation services use the same LLC operating agreement templates available online.
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An LLC’s operating agreement is the heart of a company’s legal structure. If the LLC operating agreement does not work properly, the entire business becomes vulnerable to creditors and disputes. An experienced incorporation attorney can create an LLC operating agreement that provides protection against unforeseen roadblocks you may encounter.
Look for an online incorporation service, such as , that is owned and operated by incorporation attorneys. These services can offer attorney-quality documents at an archival-level price.
When deciding where to form your company, consider that Delaware has advantages over your home state that may benefit you. GoIt’s no secret that we at feel that using online legal incorporation services to form your LLC doesn’t match the expertise that comes with working with a personal attorney. But what if you used an online service before following our advice? Whether you used an online incorporation service years ago or just last month, it’s important to have an attorney independently review your documentation to ensure you’re adequately prepared to handle the risk to your business and personal assets over the years which comes.
Incorporating your business is not a simple process, nor is there a “one size fits all” package of incorporation documents to file. There are often secondary requirements that extend beyond what is offered on websites. The regulations for education are also changing and vary from state to state. If you miss an important update, your application may be defective or incomplete, leaving you open to personal and professional risk in the future. Reviewing the disclaimers on these websites is enough to make the most confident applicant a little wary.
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If you have already used an online legal service to incorporate your business, it may be a good idea to have an attorney with knowledge of business incorporation, such as the attorneys at , review all documents created when you started your business. A lawyer will be able to provide guidance on the viability of your legal set-up structure, as well as:
Every new business is unique, and a lawyer can help tailor legal work to your specific situation. Asking a lawyer to review the documents created by an online legal service gives you an extra layer of confidence and protection when disputes and challenges arise in the future.
If you have used a “one size fits all” service to incorporate your business, you can get the peace of mind you deserve by making an appointment with a lawyer experienced in setting up new companies, such as the lawyers at . Call us today at (816) 434-6610 or click here for more information. Why do I need a lawyer to prepare an NIW application? Why can’t I prepare my petition on my own?
This website and blog constitute solicitor advertising. Do not consider anything in this website or blog legal advice and nothing on this website constitutes an attorney-client relationship being formed. Set up a one-hour consultation with us before you act on what you read here. Past results are no guarantee of future results, and past results are not indicative or predictive of future results. Each case is different and must be judged on its own merits.
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From finding the correct address to send your petition, filling out the correct forms, to attaching the correct payment method for USCIS application fees, there are many technicalities involved in preparing a USCIS filing. To further complicate matters, USCIS updates its forms from time to time, and even a seemingly innocuous issue using an outdated version of the form can actually cause USCIS to reject your case. Having a team of lawyers check and double-check every detail on every form can give you much more confidence that your petition will not be rejected on technicalities and will be judged correctly.
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