Incorporate in Orlando Florida When Should You Incorporate
Incorporating your business is a good idea; many business owners are opting for it and hence, taking bigger risks and securing their assets at the same time. But incorporating in Orlando, Florida is not the best option in all scenarios, and you should always consult with a incorporation service provider. Undoubtedly incorporating is no longer a question of if you should incorporate but rather when should you? It is important to understand the right time to incorporate in order to make the most of your investment. Following are a few situations when incorporating in Orlando, Florida will likely be justified and will reap more productive and protected outcomes:
Incorporate in Orlando Florida Tip 1 – Funding
If you are planning on expanding your business or looking at opportunities like franchising, across border ventures or other leaps in your business, then incorporating in Orlando, Florida will offer your business more credibility and thus more investors. Investors are mostly hesitant trusting sole proprietors; corporations on the other hand offer the security of a legit business entity and so are considered more reliable.
Incorporate in Orlando Florida Tip 2 – Hiring Employees and Contractors
One major risk that entrepreneurs and sole proprietors mostly face is trusting third party contractors, because in case of any infringements or liabilities the sole proprietor is held responsible for all the business’s practices. In most cases the business owners need to incorporate in order to hire employees. But either way, incorporating your business in Orlando, Florida provides the security and protection against potential liabilities that come with hiring third party contractors and employees.
Incorporate in Orlando Florida Tip 3 – Intellectual Property
If your company has created any intellectual property then it is important to incorporate in Orlando, Florida to protect the rights to the intellectual property. For instance, if the intellectual property has only been assigned to one founder in case of a partnership, and the founder decides to leave before incorporating your business then it can cause problems for the other founders.
The best example of this is the intellectual property issues between Facebook founder Mark Zuckerberg and his former classmates at Harvard. Because the intellectual property was not protected it led to an ugly battle. By incorporating your business in Orlando, Florida, you can protect the intellectual property rights as a business entity rather than as an individual or a group of founders.
Incorporate in Orlando Florida Tip 4 – More Than One Founder
Equity can become a sore issue when there is more than one founder of a business. It is very likely that there will be arguments regarding how the equity should be split in the company. Incorporating your business will prevent these arguments and misunderstandings between founders.
Incorporate in Orlando Florida Tip 5 – Major Risks
The primary reason why most businesses want to incorporate is to protect themselves from being solely held responsible for business’s liabilities. And so if you are planning on taking risks, launching new products or services or investing heftily in the business then it is best to first incorporate your business as an added protection against being personally responsible and answerable for the liabilities.
Many small business owners also opt to form LLC in Orlando, Florida to keep the business operations informal and hassle-free and at the same time be eligible for limited liability. Speak to your incorporating service provider to see if your business is ready to be incorporated.
If you need more information about our business development services, please contact us at 407-344-1228. FreedomSBS is a marketing, graphic & web design, accounting, internet marketing, business development, and corporate law resource firm all in one! FreedomSBS is your one stop shop to start, grow and mature your business. Our services include: incorporation services, graphic design, logo design, web design, web development, internet marketing, search engine optimization (SEO), marketing consultations and corporate law resources. Our services are provided nationwide, but since our main office is located in Kissimmee, FL, we mainly help businesses in the Central Florida market to areas like Orlando, South Orlando, Kissimmee, St. Cloud, Poinciana, and Hunters Creek, FL.