

ASK HN: How should I set my company up?  - dawie

Company, Bank Account and Set of books for each Web Application?<p>This is a follow on question about: http://news.ycombinator.com/item?id=347381&#60;p&#62;In the comments Ryan talks about the difficulties with handing over his merchant account etc to the company that acquired him. I want to know how this can be made easier.
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qhoxie
To my knowledge, there is no perfect way of transferring a merchant account.
Your best bet is the advice Ryan offered: _choose the biggest, most prevalent
merchant account provider you can_

Also, this is not particular to tech or startups, but keeping solid documents
will make any sale much smoother. Use something like gnucash, mint/wesabe,
quickbooks, etc.

If by company you mean incorporation, I believe that Delaware LLCs are
generally considered the best option.

~~~
dawie
But if you have a company called ABC limited and it owns the merchant
account,the bank account, financial statements,legal and all the assets. It
should be trivial to sell ABC Limited while not having to worry about
transferring domains, bank accounts or merchant accounts.

~~~
qhoxie
If that is how the sale is arranged, then yes, but trivial is subjective.

