Starting a North Carolina corporation can be a confusing process. These days, there are numerous books and online resources that are intended to help individuals with “do-it-yourself incorporation”. While do-it-yourself incorporation may seem like a cost-effective alternative, there are several reasons you should consider enlisting the assistance of a qualified and knowledgeable attorney.
First, while there are numerous resources out there on the incorporation process, it is important to realize that these resources are not a substitute for legal advice. If you need advice on which type of business entity would best suit your business objectives or the various tax benefits associated with each entity, the advice of an experienced attorney can save you a great deal of money in the long run.
Second, while online incorporation services such as LegalZoom.com, MyCorporation.com, and MyBizFilings.com seem like a quick and inexpensive way to file incorporation documents, these sites are not a substitute for the personalized service you would receive from an attorney. You may not realize until it is too late that the forms provided by websites are non-customized forms that may not fit your company’s specific needs. An attorney, on the other hand, can draft documents tailored to your business objectives by taking the time to get to know you and your business. In addition, an attorney will sit down with you and carefully review your documents prior to filing. This ensures that you will be in compliance with all of the relevant state laws and can save you from a lot of trouble and inconvenience down the road.
The attorneys at Fisher Stark have the knowledge and experience to assist you with all of the decisions regarding the incorporation of your business. We can provide you with advice regarding the best type of business entity for your needs and also assist you with the filing of all required documents necessary for incorporation. Even after your business has successfully incorporated, we will assist you in assuring that your corporate entity complies with all of the relevant rules and requirements under state law.
Third, the services of online incorporation companies usually end with the formation process. An experienced attorney can help ensure that your entity is following all of the necessary legal formalities. An entity that ignores these formalities may lose the benefit of liability protection for its shareholders when it faces a lawsuit. In addition, establishing an ongoing relationship with an attorney may help you down the road should you face other legal issues.
Finally, the costs of do-it-yourself incorporation may be much greater in the long run. Often times, the reason online companies charge low fees is because they do not provide all of the services you need to complete and maintain your corporate entity. There may be additional hidden fees for things like corporate minute books, properly issuing stock, organizational meeting minutes, or applications for EIN numbers. Once you add on all of the necessary services, you may be faced with a much higher number than you originally anticipated which may be even more expensive than if you hired an attorney.
Although hiring an attorney to help you incorporate may cost more than an online incorporation service, the money you spend may be worth the peace of mind in knowing that your corporate entity is following all of the legal requirements, and the shareholders and officers of the corporation are not personally liable.
The attorneys at Fisher Stark are available to assist you with the incorporation of your business. We will take the time to get to know you and your desired objectives so that your business can reach its full potential. We will also make sure your corporate entity is abiding by all of the relevant rules and regulations under North Carolina law. Finally, we will do this in a cost-effective manner by providing services at a reasonable cost.
Last updated 7/5/2015