There are numerous factors to be considered prior to forming your business, however one must know the type of business, your business plan, and goals prior to providing you with a comprehensive answer. Thus, I would recommend organizing all information relevant to your new business, and consult...Read more »
I would recommend talking to an attorney about whether it makes more sense for you to incorporate or form an LLC from a tax and liability standpoint. Based on those answers, you can then decide whether to incorporate in Illinois or some other jurisdiction.
This question is very complex for a short answer. Some general considerations are: do you need protection of your personal assets from potential business debts or liabilities; are there investors who do not wish to participate in the day to day activities but wish to invest and share in profits or...Read more »
There's more to the process than simply filing the articles,and that is the easiest part of the process. Keep in mind that there are plenty of attorney's that are not capable of property and thoroughly establishing an entity. You would be well advised to work with an attorney that has a...Read more »
If you are conducting business in the US, I highly suggest you obtain a lawyer from the US. Many of us offer free consultations, so it will not cost you anything to obtain a professional's opinion that is tailored to the specific facts of your case.
If the company is an "C corp." or "Subchapter S" corporation, you would transfer stock. If the company is an LLC, you would transfer membership units. Membership units are not technically stock or shares but perform the same legal function. You should consult a business...Read more »
Yes, it is certainly still in effect, and is the source for a great deal of litigation in Illinois. If you are contemplating starting a carpentry business, I would highly recommend you consult with an attorney prior to doing so, as it will save you a great deal of time, stress, and money in the...Read more »
Looking to start a business. Initial research indicated that the name selected was unused. Bought domain. Further research uncovered a company in Thailand using the same name in virtually the same field. Overlap in business/target market unlike as they're in Thailand and I'm in US but not... Read more »
The issuance of "stock" implies for lawyers a "C corp." or "Subchapter S" corporation. Alternatives like an LLC entity allow sale of ownership interests that are not technically stock or shares but perform the same legal function. You should consult a business...Read more »
being self-employed is the same as being a sole proprietor - just different terminology. when you create an LLC or a corporation, you create a legal entity and you are simply a member or shareholder of that entity. good luck.
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