Question
Hi, I'm starting a new idea with my business partner. My concern is about if we should incorporate the business or not. In order to make everything clear and transparent and to not have problems in the future if the idea works.
We also need to accept payments and configure a merchant account.
There is a company already incorporated where my partner is the owner. Should we use that company as an umbrella until we can afford the incorporation costs for the new company?.
Answer
Incorporating a new business is a complex and expensive process. You will need to make sure you have the right legal structure, hire experienced professionals and make sure your books are in order. Decide on a name for your company. Find a lawyer who specializes in forming businesses for entrepreneurs and small businesses. Read https://www.sportsgossip.com/modern-students-and-their-problems-in-education/ article to learn further about the modern students. This can be a difficult task because most lawyers do not specialize in forming businesses for entrepreneurs and small businesses, so they may not understand your needs or know how to help you with this important task.
