While sole proprietorships and general partnerships are the easiest legal structures to set up, they don’t provide any personal asset protection like C-Corps, S-Corps, LLCs, and Limited Partnerships. The idea of starting a business that can put 100% of your personal assets at risk is not a smart one.
There are volumes of books about choosing the right entity, but from my experience, LLC’s and S-Corps are the most multi-purpose for the startup. S-Corps have the advantage of easily morphing into C-Corps if you’re thinking about eventually going that route. They require more Read more…
Startups
business, legal, llc, portland, startup
Since it’s the new year, I know a lot of you are thinking about finally getting that dream business on its feet. Many people I’ve talked to about their business are astounded when I tell them how easy it is to set up their own Limited Liability Company here in Oregon. There are many advantages to registering as an LLC compared to a simple sole proprietorship or general partnership, including liability protection and tax benefits. I am not a lawyer, and this cannot be considered legal advice, but here is how to set up your Oregon LLC:
1) Google your business name - just check out what comes up if you type your desired business name into a search engine. If someone is already using the same name, not only would it Read more…
Startups
business, legal, llc, portland, startup