If you’re thinking about starting your own business or if you’ve recently done so, then you probably already know that there are things that need to be considered. More specifically, legal issues that need to be decided in order to protect what you are growing and creating.
In this episode, Nellie Akalp, CEO of CorpNet.com, joins Anita Campbell to share her advice on issues such as various forms of legal entities, what business structure goes best with which business and why forming an LLC or an Inc. is necessary.
Below are the questions we asked Nellie:
- (3:53) Nellie, can you tell us a bit about yourself and your background?
- (7:40) So you and your husband are trained as attorney’s, but you sound like quite the entrepreneur. Was there that lure of business that was always driving you?
- (9:29) For anyone who doesn’t know, a service like CorpNet.com provides a document preparation service, not an actual legal service like a law firm provides, correct?
- (11:27) Say I’ve decided to start a business and I have a business name, how do I make sure that someone else is not already using that business name?
- (14:56) Let’s talk about why you should create a corporation or an LLC (Limited Liability Company). Why should you go to the extent of creating a legal entity?
- (18:22) Given the choice, how do we know which one to choose? LLC, S Corp or C Corp?
- (24:44) You mentioned venture capital backed businesses. If they incorporate or go with the LLC structure, they are very particular about what state they go under. Where should you form your corporation or LLC? In your home state, or is there some advantage to picking a particular state?
- (29:23) Where can people learn more?
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Listen to Nellie’s full interview NOW by clicking the red and yellow player below