Affiliate Marketers: Consider DIY Incorporation – By Robin R. Talbott

by Jenae Reid on December 8, 2017

Incorporation is an industry benchmark separating business wannabes from those who know what they’re doing. Or is it? Is incorporation necessary for a business to have credibility and establish authority?

No, not really. Businesses can exist profitably for years without having an Inc., Corp, LLC, or LP after their name, but unless a commerce entity is incorporated, the owner/s and their spouse/s can be liable with their personal assets at risk in a lawsuit.

  1. A corporate filing separates business from personal assets, so a lawsuit against the business cannot seize the owner’s personal wealth. Therefore, incorporation is an umbrella of protection well worth a look-see.Business owners risk personal assets when they don’t incorporate

    “Incorporation is expensive,” small business owners complain. “And, lots of hassle,” they continue. So, having consulted a lawyer demanding a hefty retainer, they decide to risk everything they own, as their bottom line cannot support such a fee upfront. ”And besides,” they think, “my business is low risk. Who’s going to sue a blogger or affiliate marketer?”

    Low risk businesses can be sued on a whim like any other.

    Litigious people sue when they know there is money to be made. And, with some online businesses, there’s a great deal to gain. No longer are high risk businesses the only ones incorporating. The rash of successful bloggers and marketers making seven figures a month is increasing, and that kind of money attracts those who want an easy piece of their success.

    DIY incorporation is an alternative to high lawyer’s fees

    With access to the Internet, we have many self-incorporation options available. Online incorporation sites offer differing degrees of incorporation services. Some have forms and templates for the choosing, while others have complete binders with all necessary methods included for payment of fees, licenses, assembling a Board of Directors and composing company bylaws for the state of incorporation.

    Self-incorporating makes a business lawyer-ready, should it need one

    As always, there is no substitute for advice from a legal professional, but the headwork necessary to self-incorporate will streamline legal interactions, should they need to occur. When a business owner is well versed in corporate vocabulary and principles, it is much easier to discuss options with a lawyer. The lawyer does not have to educate to relate.

    Five Things to Research before Starting a DIY Incorporation

     

  2. Decide which type of corporate legal structure is advantageous.
  3. Decide the state in which to incorporate, whether it’s your resident state or another.
  4. See if your chosen name for the business is available, as it must be unique.
  5. Learn about Resident or Statutory Agents, who receive Service of Process.
  6. Search online for your forms or corporate planning service to turn-key your compliance and tax structure making incorporation much easier.

Soon, you’ll be on your way.

Robin R. Talbott (@SunbonSmart) digitally markets at SunbonnetSmart.com

This article appeared in issue 41 of FeedFront Magazine, which was published in January 2018. https://issuu.com/affiliatesummit/docs/feedfront-41

 

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