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IANAL: my comment is worthless, but Pro: it's cheaper. Con: investors dont like LLC's so they will make you convert to a C type, so in the long it will be mor
by russell 16y ago
IANAL: my comment is worthless, but
Pro: it's cheaper.
Con: investors dont like LLC's so they will make you convert to a C type, so in the long it will be more time, hassle, and money than you would have saved.
- Travis 16y agoGoing through this now. We started as a consulting LLC. Then developed IP/ideas, decided that's what we wanted to do (develop one of the major apps / business ideas we had). Had to switch to C Corp. Although that switch was beneficial, as it forced us to do our due diligence on ourselves, and make sure all the legal work was setup. One of the guys in the startup has a law degree, so it was cheap... but we're really happy we have our paperwork together now that we're talking with vcs.