At the superficial level, incorporating a business is easy. It includes filing articles of incorporation with the Secretary of State where one is incorporating. However, there are lots of issues that need to be resolved before the process is complete like deciding the type of corporation and the state where one wants to incorporate.
Incorporating requires expert knowledge of business laws and consequences, tax compliances and other regulations. It is wise to seek the advice of a lawyer that has this type of expertise to offer. Some jurisdictions require that filing papers has to be done through a lawyer. But under certain conditions, it is possible to incorporate yourself. The state offers assistance in this regard, and there are good books available that explain the steps to incorporate.
There are advantages and disadvantages to filing papers by oneself. If you incorporates on your on, you can save hundreds of dollars that would have gone to lawyers in the form of fees. With assistance from the state and the availability of information from the Internet and books, a little bit of effort will save money.
If you start a business, you must first be knowledgeable in areas of selling, consulting and manufacturing. Classical management theories opine that one should concentrate on these core competency. If you aren’t equipped to deal with one or more, then you should hire an expert to help.
As stated, the area of legal and corporate affairs is best left with a lawyer who has that expertise. The returns from concentrating on the core competency more than offsets the expenses incurred by way of consulting a lawyer. By consulting a lawyer, your mind is relieved of the hassles of legal terms and laws. The lawyer may even counsel you on whether to incorporate or not. Hence, it is possible to incorporate by oneself. However, it requires a lot of effort, so you must first consider the benefits and losses of doing so.
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