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I have a startup. Should I incorporate and become a ‘proper’ company before developing/testing a working prototype?

I have a startup. Should I incorporate and become a ‘proper’ company before developing/testing a working p… by @R44D

Answer by Raad Ahmed:

I would agree that if you need investors to help fund the cost of testing and developing, then you’ll likely want to incorporate. The reasoning there is that investors generally find an incorporated business to be more “solidified” than those that are not.

Other advantages of incorporating:

  • Personal asset protection
  • Continual existence even if ownership changes
  • Tax deductions

The next order of business would be to identify which entity works best for your business. For that, it would be a great idea to consult a business attorney.

I invite you to check out our company, LawTrades. We connect clients with skilled attorneys in specific areas of law. Our business attorneys have assisted over 1000 startups incorporate as well as offered counsel for other phases of business development. Check out our website and get in touch for a consultation.

I have a startup. Should I incorporate and become a ‘proper’ company before developing/testing a working prototype?

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