Tips to get Your Online Company Registered without Making Costly Mistakes
Domain Name Extensions (Photo credit: The Booklight)
You must have heard of one of those success stories, when someone started as a small online business from home and went on to form a full-fledged company. Internet offers you a low-cost platform to try out an idea, and if the response is good, you can register and start a proper business. All you need is an innovative (yet practical) idea, some time, persistence, and patience and you can end up with your own business in a matter of a year or two.
Internet has made it incredibly easy to start an online store, thanks to all sorts of scripts like WordPress and tutorials, which are available at no cost. As soon as you start to grow as a business, you have to think beyond the Internet, and that is where it can get a little tricky.
Registering Your Business
Remember that just because you are carrying out most of your business activities online, it doesn’t mean you are absolved of laws and regulations in the real world, especially if you are selling products or services. You will need to register your business for many reasons: tax purposes, protecting your business name and trademark, or maybe because you don’t want to be solely liable for everything related to a business which is growing rapidly.
When you are looking to register a company, you will have to follow the procedure, and while the details and local laws might be a little different from one place to another, there are some common points to keep in mind.
Name & Trademark
When you are launching an Ecommerce store or any other kind of online business, it is important to choose a unique and brand-able domain, especially if you have large ambitions. Going for keyword oriented domain names can turn out to be an obstacle when you are looking to register as a company because you cannot register generic words, such as business names and trademarks. Therefore, you should choose a domain which is short, easy to remember, and different. Don’t try to use or copy famous brands into your business name or domain. Also, keep the visual aspect in mind because you will need a logo for your packaging or promotions.
Type of Company
There are many different types of companies to choose from, for example, sole proprietorship, limited partnerships, limited liability partnership, C-corporation, Limited Liability Company, corporation, and the likes. Choosing the right business type is important because it will play a huge role in deciding your liability, tax returns, control, and financing options. Each of these types has its own prerequisites, advantages, and disadvantages, which you should decide only after consulting an expert or business lawyer.
Professional Guidance
Company registration involves a lot of documentation and careful consideration. A small negligence or inattention to details can turn out to be a costly mistake in the longer run, so it’s better to take some professional advice or help. You can start from visiting the local governing body for small and medium businesses. Or you can hire a business lawyer or firm to take care of all the details while keeping your preferences in mind.
About the Author: Natasha is an online entrepreneur and part time blogger. Registering a business or a company name is a must for those who are looking to do serious business, whether it is online or offline.
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