Comments on: Why Start an LLC- LLC Protection Explained with Real Examples http://thellcexpert.com/llcanswers/why-start-an-llc-llc-protection-explained-with-real-examples/ Limited Liability Company Knowledge Mon, 02 Feb 2009 00:41:59 -0700 http://wordpress.org/?v=2.8.6 hourly 1 By: Amyli McDaniel http://thellcexpert.com/llcanswers/why-start-an-llc-llc-protection-explained-with-real-examples/comment-page-1/#comment-157 Amyli McDaniel Tue, 23 Dec 2008 00:52:01 +0000 http://thellcexpert.com/llcanswers/?p=237#comment-157 I do not believe that the formation of an LLC itself requires a lawyer unless the business has other investors (such as angels or venture capitalists) that are insisting that additional provisions be included in the official formation documents. In fact, many lawyers outsource the administrative filing requirement to organize an LLC for their clients. . . to companies such as The LLC Expert. However, I do think that it is always beneficial and recommended to obtain legal advice from a competent business lawyer when it comes to post formation matters such as the structuring of the LLC (which includes ownership, management and tax issues). This becomes especially important for a multi-member business. Having said this, it is a known fact that while the ideal solution for every business is to have a proper legal adviser, over 90% of small business owners will not get one at the beginning of their entrepreneurial journey. So, the second best alternative is to make some investment in educating yourself about LLC formation and governance matters. I do not believe that the formation of an LLC itself requires a lawyer unless the business has other investors (such as angels or venture capitalists) that are insisting that additional provisions be included in the official formation documents.

In fact, many lawyers outsource the administrative filing requirement to organize an LLC for their clients. . . to companies such as The LLC Expert.

However, I do think that it is always beneficial and recommended to obtain legal advice from a competent business lawyer when it comes to post formation matters such as the structuring of the LLC (which includes ownership, management and tax issues). This becomes especially important for a multi-member business.

Having said this, it is a known fact that while the ideal solution for every business is to have a proper legal adviser, over 90% of small business owners will not get one at the beginning of their entrepreneurial journey. So, the second best alternative is to make some investment in educating yourself about LLC formation and governance matters.

]]> By: Hybrid Business http://thellcexpert.com/llcanswers/why-start-an-llc-llc-protection-explained-with-real-examples/comment-page-1/#comment-155 Hybrid Business Mon, 22 Dec 2008 20:50:12 +0000 http://thellcexpert.com/llcanswers/?p=237#comment-155 Informative video! Thanks for taking the time to put this together. When discussing setting up an LLC, you mention that it is often a good idea to hire a business lawyer or a LLC formation service (for a cheaper option). Although it is cheaper to form an LLC yourself or hire a service to help, would you suggest paying a little bit more and hiring a lawyer to help with this process? Informative video! Thanks for taking the time to put this together. When discussing setting up an LLC, you mention that it is often a good idea to hire a business lawyer or a LLC formation service (for a cheaper option). Although it is cheaper to form an LLC yourself or hire a service to help, would you suggest paying a little bit more and hiring a lawyer to help with this process?

]]> By: Start an LLC to Prevent Being Personally Sued for Your Internet Business | Intelligent Biz Planning http://thellcexpert.com/llcanswers/why-start-an-llc-llc-protection-explained-with-real-examples/comment-page-1/#comment-154 Start an LLC to Prevent Being Personally Sued for Your Internet Business | Intelligent Biz Planning Mon, 22 Dec 2008 16:43:38 +0000 http://thellcexpert.com/llcanswers/?p=237#comment-154 [...] Watch the short video here for more details: LLC Protection Explained [...] [...] Watch the short video here for more details: LLC Protection Explained [...]

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