

 Incorporating your business should be vastly simpler - mathoda
http://mathoda.com/archives/209

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admoin
Anyone who has tried to start a company in most other countries (where
starting a company can take months and thousands of dollars in fees or even
bribes) would never write something like this. The US is on the easy end of
the spectrum, definitely.

Also, what the author seems to be suggesting is really just a "Company
Corporation" or a "MyCorporation" (both large companies that do most of this
work for you for not a ridiculously high fee), rather than any real change of
law. I also did a google search for "incorporate", and the first few google
ads were big companies that streamline the process for you.

A final small note- I would prefer that we keep a small toll charge for
incorporation. It does cost the states money to process applications and keep
track of filings, and it allows people to create a limited liability shield
(not something I think we should be giving away for free).

This is similar to the logic that makes me think we'd be better off with a
very very small "penny black" type of email tax (like 1/10th of a cent or
less), just to discourage spammers.

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DenisM
Having just gone through the pain I would like to offer free advice (at your
own risk, duh):

First, figure out among yourself few things:

How much money, IP and time do you put in?

On what conditions do you break up? Firing for cause/without cause? Is there a
vesting schedule?

These questions will take quite a few long and awkward discussions but it is a
lot better to have it now rather than later. Really-really. Start early.

Second, find your local startup community and ask for references for a good,
inexpensive incorporation lawyer. Pick one with best references and take the
outcome of previous step to him/her. Make sure to read and understand
everything (especially the deadlines) before you sign anything.

Small Business Development Centers could be a source of cheap advice, cheaper
than asking same questions from a lawyer.

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goodkarma
We run our own business, and I have set up several subsidiary companies in the
process. If your ownership structure is simple, it is actually pretty easy to
get started. Here's what I do:

1\. have your state filings done by a registration service (I have set up
several LLCs through "the company corporation") and get their starter kit with
books, seal, certificates, etc.

2\. register for an EIN number with the IRS. you can do this online for free:
<https://sa1.www4.irs.gov/modiein/individual/index.jsp>

3\. once you have a EIN, you can open a bank account

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yummyfajitas
I agree, things might be better if it were simpler. But I don't like this
"company.gov" idea if it gives the feds any regulatory power.

Currently, most corporate details are regulated by the states. In the article,
it's mentioned that incorporation costs over $900 in cali. In NJ, it is much
cheaper, and Delaware is particularly nice (YC does all it's paperwork through
Delaware, no?).

If the feds get this kind of power, I'd be worried that the whole nation would
look like California rather than like Delaware.

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enris
It's the same here in Finland. There are lots of different organizations,
programs and places to get help(I bet goverment funded), but actually they
should just make the process more simpler.

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corentin
There should be no paperwork _at all_.

