We are creating an internet company - a home remodeling/home repair website which will act as a middle man between customers and contractors. What kind of corporate structure fits us best? We are an online business with employees overseas (Europe). Do we create TheHitBid.com Inc. that owns everything or do we create "HitBid Company Inc." that owns TheHitBid.com or do we do something entirely different?
You can incorporate your business in any state, and the corporate laws of each state vary. Some clients choose to incorporate in states which allow more privacy for those involved with the corporation. An attorney can help you decide where to incorporate. You might also consider diversifying your risks by forming an Intellectual Property holding company that owns all domain names, trademarks and copyrights associated with the enterprise, and a separate company to operate the online business. A license agreement will need to be created between the two companies. Website operations insurance is available from some insurers, and should be considered. Depending on your resources, you might also consider forming an international business structure, and taking advantage of certain tax benefits, particularly given the European aspect to your business model. Best of luck.
Disclaimer: The foregoing does not constitute legal advice or form an attorney/client relationship. Please contact an attorney for formal legal advice on any specific matter.
You should create one corp (or LLC) that owns everything in order to protect the shareholders from any claims arising out of the business. For trademark protection, I think “The HitBid Company Inc.” works better. Also be sure to buy liability insurance; don’t rely solely on the corp for protection or you could lose all the assets of the corp in a lawsuit.
DISCLAIMERâ€”This answer is for informational purposes only under the AVVO system, its terms and conditions. It is not intended as specific legal advice regarding your question. The answer could be different if all the facts were known. This answer does not establish an attorney client relationship. I am admitted only in California. (Bryant) Keith Martin sbbizlaw.com
The answer depends on how many owners are involved, where your offices are located, where your principal place of business is and a variety of other factors. You also need to consider tax, liability and insurance issues to determine which type of structure is appropriate, and how to hold the assets should be held.
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