LegalZoom and Company Corporation

[Pinnacle]

I have both of these companies bookmarked in my browser. After I finish a few wealth-planning and business start-up meetings with an accountant, I'm considering comparing and choosing one of these firms to take care of my IP protection and incorporation processes for my two businesses. Ultimately, I will hire either a full-time general counsel or outsource legal issues to an attorney. As for getting off the ground, however, I feel it may behoove me to solicit the services of one of these websites. Has anyone used them and, if so, what do you think of them?

 

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[crypter]

I have been thinking about legalzoom as well and interested in hearing comments from others.

 

[Redshft]

From what I have heard, there are more people that face problems when going with legalzoom and other online incorporating services than people being satisfied. Try a google search with a query of "legalzoom issues" or "legalzoom problems" or "complaints", that should bring up some good links of people's problems.

I think there is a thread on this subject already, I'll see if I can find it.

 

[Redshft]

http://www.thefastlanetomillions.com/asset-protection-taxes-legal/8194-legal-zoom.html

 

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[LSnyder]

Our office has had several clients that have used LegalZoom and come to us with their formations for review just to be sure everything was on the up and up.

We see no problem with them.

 

[PEERless]

I used the Company Corporation, and I recommend it 100%. I paid $399 for the "complete" package on my LLC, and I was very pleased. Only one thing I would pay attention to...

Like any good internet "system" The Company Corporation bases its revenue on recurring billing. In this case, it is for registered agent service. If you have a small operation, and if you live in the state in which you incorporate, you can be your own agent and save $200-300/year. You will have to manually cancel this service.

If you are incorporating in another state for tax reasons, you'll need an agent in that state, and The Company Corp's seem as good as any.

 

[GlobalWealth]

The problem with the low cost online biz formation companies like legalzoom, is you get a boiler plate operating agreement that doesn't offer you much legal protection. In some cases, these low cost online resources, don't even provide the operating agreement. Most operating agreements I review from these providers run from 5-10 pages long. A good operating agreement for an LLC should be 60+ pages of detailed information that spells out specific terms.

 

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