Whats the process for establishing a company name?

[Arkitech]

Myself, my younger brother and a mutual friend are in the early stages of a potentially lucrative business. My concerns are making sure that we're doing everything in a legitimate matter, so I'm thinking we should probably register a company name and setup a tax id number. However I'm not really familiar with the process. Has anyone here ever been down that path before? How can we protect whatever we earn from lawsuits? Thanks for any advice.

 

[TranceNation]

lucrative business.... must be illegal lol

 

[rmrf]

to protect your personal assets, make sure you form a corporation. If your corporation were ever to get sued, your personal assets would not be affected, and vice versa, if you were to get sued personally, your corporation would not be affected.

As far as registering a name, just go to your state's capitol building and fill out the papers. there is usually a small fee to register the name, but that is with everthing you do. I know in my state, the website the state has set up, allows people to check if certain names are taken or not, and you can register the name online.

good luck :beer:

 

[Arkitech]

Originally posted by: rmrf
to protect your personal assets, make sure you form a corporation. If your corporation were ever to get sued, your personal assets would not be affected, and vice versa, if you were to get sued personally, your corporation would not be affected.

As far as registering a name, just go to your state's capitol building and fill out the papers. there is usually a small fee to register the name, but that is with everthing you do. I know in my state, the website the state has set up, allows people to check if certain names are taken or not, and you can register the name online.

good luck :beer:

Cool thanks man, I think I'll call city hall this morning and find out if they have a similar setup. I was under the impression that I needed a lawyer to get a business name going.

 

[Arkitech]

Originally posted by: TranceNation
lucrative business.... must be illegal lol

heh heh this is strictly legitimate, although if things go as smoothly as I think they will it should be illegal

 

[XZeroII]

Originally posted by: Arkitech

Originally posted by: TranceNation
lucrative business.... must be illegal lol

heh heh this is strictly legitimate, although if things go as smoothly as I think they will it should be illegal

details or ban

 

[Arkitech]

Originally posted by: XZeroII

Originally posted by: Arkitech

Originally posted by: TranceNation
lucrative business.... must be illegal lol

heh heh this is strictly legitimate, although if things go as smoothly as I think they will it should be illegal

details or ban

well since you could be potential opposition I'll give you the shorthand version. "Wholesaling" Find a supplier who will sell you a product at a discounted price for bulk purchases, next find several small businesses who want to buy from you. I can't believe I had'nt thought of doing this a long time ago.