Re:Ask HN: When should I worry about legal docs?
by cdvonstinkpot on Sunday August 09, 2015 @03:28PM
(#10031260)
I formed an LLC early when I was doing my startup, and regretted it b/c it became a burden to maintain all the necessary records I might have not had to do if I had chosen to incorporate later- like when I had paying customers. I would wait as long as I can stay unincorporated if I were to do it again.
I would create a Sole Proprietorship first, before there are many assets belonging to the startup- it'd allow for the use of company accounts with vendors, without the cost associated with an incorporation. I think it was less than $50 to do that.
As for ToS, I believe that would be a good thing to get in place early on just to have some sort of protection/insulation from liability as far as that would provide. There are resources on HN if you search to help get that done at minimal cost. I hired an attorney to do mine, & it was way more expensive than it had to be, as I learned later.
I would create a Sole Proprietorship first, before there are many assets belonging to the startup- it'd allow for the use of company accounts with vendors, without the cost associated with an incorporation. I think it was less than $50 to do that.
As for ToS, I believe that would be a good thing to get in place early on just to have some sort of protection/insulation from liability as far as that would provide. There are resources on HN if you search to help get that done at minimal cost. I hired an attorney to do mine, & it was way more expensive than it had to be, as I learned later.