If you’re just starting a social network website, should you incorporate?

Hey – I’ll do my best to briefly answer your questions!

  1. You should incorporate if any of the following are true: 1) you have employees; 2) customers; or 3) making sales.
  2. In terms of LLC vs Inc. – it depends how big you want to build your company. If you’re anticipating big sales and a possible venture capital round at some point then incorporate. An LLC doesn’t easily facilitate funding.
  3. Don’t use a DIY site like LZ. Yes it is cheap, but you get what you pay for: the forms you need to file. You won’t have the ability to speak with an attorney to go over your options and to guide you through the maze of post-incorporation formalities.

If you want a more personalized answer, check out LawTrades–a marketplace that lets startups find, hire, and work with curated startup attorneys. We offer free consultations and no obligation price quotes. Good luck!