4 ms·
"Don't incorporate, though, if you can avoid it. We're less likely to accept groups that are already incorporated, because it costs so much more to deal with ex
by tuukkah 19y ago
"Don't incorporate, though, if you can avoid it. We're less likely to accept groups that are already incorporated, because it costs so much more to deal with existing documents than to start from scratch." http://ycombinator.com/faq.html http://ycombinator.com/faq.html
- davidw 19y agoPresumably he's part of the 99.9% of companies out there who aren't lucky enough to have YC as an option.
- ivankirigin 19y agoWe definitely have the option to do YC. Our application is in. This faq is certainly a reason for making this post and asking, as our release would come before the winter session starts and maybe before Oct. 11th, when application results come out. Is seems the consensus is to incorporate in some fashion just out of basic prudence before a release. So the question for PG and folks at YC is "you'd rather we no incorporate, but I think we need to, how should we do it?" Another thread mentioned opening the "standard" papers YC uses -- and PG mentioned the problem in papers that might be wrong or have holes for companies. I'd like to hear about any progress on that front.
- rms 19y agoIf you need to incorporate, YC won't hold it against you. It's less risky for them to invest in companies with customers anyways. But make sure you do it as a Delaware Class C Corporation, because otherwise YC will want you to convert and that's much more expensive than than doing it from a scratch. So don't incorporate as an LLC from your state, even if it might be cheaper.
- extantproject 19y agoI think this is saying that YC would rather not have to make legal changes to an existing company (i.e. it's more likely that you'll be funded by YC if you let them take care of the legal junk).