Re:On Incorporation - Hold Off Until You Have The Cash To Spare
by zaidf on Monday February 22, 2010 @04:28PM
(#1143779)
Seems more like you hit one extreme of shelling out too much money up front and now are advocating the other extreme.
My philosophy: hold off till you get your first customer contract OR take on some genuine liability(ie. DMCA).
How I'm handling it...
1. I incorporated my startup after getting the contract. It cost me $180 bucks.
2. I told my good lawyer friend who was after me to go through him that it would make more sense to consider him after we raked in more contract over the next few months.
3. I have not gotten a bank account yet. I'll do so soon as I get the first check(off the contract).
4. I do have a potential cofounder I'm thinking of bringing on board. I am unsure how to go about his paperwork. In initial stages, we'll probably just make a simple specific written agreement along with a set milestone by when we'll officially redo the paperwork.
In general, I like to let revenue/liability/funding dictate any lawyer work.
My philosophy: hold off till you get your first customer contract OR take on some genuine liability(ie. DMCA).
How I'm handling it... 1. I incorporated my startup after getting the contract. It cost me $180 bucks. 2. I told my good lawyer friend who was after me to go through him that it would make more sense to consider him after we raked in more contract over the next few months. 3. I have not gotten a bank account yet. I'll do so soon as I get the first check(off the contract). 4. I do have a potential cofounder I'm thinking of bringing on board. I am unsure how to go about his paperwork. In initial stages, we'll probably just make a simple specific written agreement along with a set milestone by when we'll officially redo the paperwork.
In general, I like to let revenue/liability/funding dictate any lawyer work.