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

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

Answer by Raad Ahmed:

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!

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

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