Comments on: Do You Have Corporate Protection?

By: Vern Brown

Vern Brown — Fri, 20 Feb 2009 07:40:33 +0000

This is an absolute ‘must’ for anyone in business, which we are, as Internet Marketers. The only thing I mind is that this is only for the US, when I am Canadian. I would love to have someone like this company in Canada.

Thanks for this post, Terry, I might just have to talk to the legal people here, to see if this is required in Canada… It’s called “due diligence”.

By: Othmane

Othmane — Thu, 19 Feb 2009 23:43:19 +0000

Thanks Terry for this one..

Hello everybody there, although I am not int the united states (I live in Morocco).. I believe that having a corporate presence has his advantages and disadvantages.

The equivalent of LLC here in Morocco is called SARL (Societe A Responsabilite Limite), and I am planning to form one in the next 6 months except that in Morocco it is not as easy in the US.

By: Chris Lockwood

Chris Lockwood — Thu, 19 Feb 2009 19:19:31 +0000

Thanks for posting this, Terry. This is one of those important topics about business that hardly anyone talks about- maybe because it’s not as exciting as “Get a million visitors per day” or “Make $100,000 overnight” – but is probably as important as anything else you could write about.

By: Terry

Terry — Thu, 19 Feb 2009 18:47:16 +0000

Phyllis:

I agree that people need to protect themselves carefully.

Dave:

Definitely. Just because something is free doesn’t mean it is for you (remember there are still fees required by the state so it’s not free – just their service is).

Everyone should consult with their attorney and tax accountant on what is the best choice for their situation and NOT rely on any free information on this topic (including my site – remember I’m not a lawyer, accountant, or in any way qualified to tell you what you personally should do).

By: David Lovelace

David Lovelace — Thu, 19 Feb 2009 18:41:39 +0000

You have to keep in mind that forming an LLC may not be right for you even if it’s free (minus filing fees, state fees, etc). Do your homework.

Most people are Sole Proprietors and “one man” operations. It’s extremely easy to work and operate as a S.P. And LLC requires more work and more paperwork and has many more restrictions and rules. And, depending on the individual, may not be cost effective.

For an overview of these things, read this article:
http://www.legalzoom.com/llc-guide/llc-sole-proprietor-partnership-comparison.html

Dave

By: Phyllis Zimbler Miller

Phyllis Zimbler Miller — Thu, 19 Feb 2009 18:07:37 +0000

Terry –

This is a very important article, and I hope people act upon your advice to protect themselves.

I’m married to a California tax lawyer, and as soon as I started my business I had him form an LLC for me.

Phyllis Zimbler Miller