A critical step for starting your business in the United States is the “formation” process – that is, registering your business entity in the state where you operate. The requirements and process vary from state to state, and it’s a critical step that cannot be overlooked.
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There are five basic types of business entities:
- Sole Proprietorship
- General Partnership
- Limited Liability Company (LLC)
- Corporation
- Limited Partnership
How does one know which type of company they need to form and register? There are several key factors to consider. Check out this video from BetterLegal which demystifies these terms and explains them – and those key factors – in easy-to-understand English, and in just a few minutes. The topics in this video include:
- What is a Company?
- Sole Proprietorship
- General Partnership
- LLCs, Corporations and Limited Partnerships
- What is a DBA?
- Transitioning to a Legal Entity
- Do I Need a Lawyer?
- When to Make It Official
BetterLegal is a one stop shop for all your business formation needs – and not just for the initial formation of the company, but for managing changes to the business throughout its life cycle. With a simple and straightforward fee structure, and some valuable included bonuses such as a library of legal / business documents and templates, BetterLegal is a cut above their competitors.
If you’ve studied the laws in your state, you may feel comfortable handling the formation of your business yourself. But if you prefer to leave that to the professionals to make sure everything is done right, BetterLegal is a great solution with a real attention to detail and customer service.
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