Benefit Company/ Benefit Corporation Formation (ID, CA, OR)

$2,400.00

Finding the right legal structure for your business takes careful planning and attention to detail.  This is even more true when our businesses are benefit corporations or benefit companies, with more than just profits as the end goal.

Description

Finding the right legal structure for your business takes careful planning and attention to detail.  This is even more true when our businesses are benefit corporations or benefit companies, with more than just profits as the end goal.

How Does The Process of Forming My Company Start?

This service covers an initial meeting with your lawyer to determine the scope of what it will take to form your benefit company, in the way that works best for your business and your goals.  During our meeting, we’ll ask key questions to first confirm that a benefit company really is the best business structure to help you reach your goals.  Then, we’ll dive deeper to develop and define your plans, strategy, goals, and more.  After our meeting, your lawyer will take the mountains of information he or she has gathered back to the office, and – this is where the real magic happens – turn your business dream into reality.

How Does My Company Actually Get Formed?

After our initial meeting, we’ll be busy preparing more legal documents than you can shake a stick at.  (Really?  I know, you can probably shake a stick at a lot of things, so one does have to wonder where that expression came from.  Just trust us that it’s a LOT of documents!)  Specifically, our scope of work includes the following:

  • Name Search
  • Registered Agent Consent
  • Articles of Incorporation
  • File Corporation with the State
  • File Initial Annual Report (where applicable)
  • Form SS4
  • Obtain EIN
  • File IRS S-Corp Election (if applicable)
  • State Business License (if applicable)
  • State Resale Cert (if applicable)
  • Business License for Primary Office Location (Add’l Localities Optional for Fee)
  • Corporate Bylaws
  • Corporate Resolutions Issuing Shares
  • Resolution Holding Initial Annual Meeting of Shareholders, Electing Directors, Etc.
  • Resolution Holding Initial Annual Meeting of Directors, Electing Officers, Etc.
  • Business Handbook

How Long Will It Take To Form My Company?

We are able to complete most of the filings necessary within the first two weeks.  Then, it may take the state several weeks to actually process your paperwork.  While we wait for the state to process your paperwork, we’ll be working on your internal company legal documents, which might include Articles of Incorporation, Bylaws, Operating Agreements, and other business-critical items.  While we can’t guarantee a time your filings will be complete – just because it depends on how long the state takes, and how quickly we get responses from you – you can generally plan for us to complete your company setup within six weeks.

Need it faster?  Let us know, and we’ll put a rush on it (additional fees apply).

What Else Should I Know?

This is a one-time legal service.  However, we’ve found that budding businesses do best when they have an ongoing legal subscription with our firm, because it means they have extremely affordable access to their lawyer for much needed support during the company’s critical formation and growth stages.  A legal subscription can also save your new company thousands – or even tens or hundreds of thousands – of dollars in legal expense down the road.  This is because, when you invest a small amount in legally protecting your business, you save huge amounts in risk management, liability management, and lawsuits down the road.  So, definitely consider our subscription option for this service and more, instead of this one-time formation option.

Important Terms and Conditions:

  • By purchasing this service, you are agreeing to these terms and conditions.
  • In addition to the legal fees above, we will collect a refundable deposit of $500.  This deposit is due before we begin work.  We will use the deposit to pay government filing fees incurred on your behalf.  Any portion of the deposit not spent on filing fees will be refunded to you at the completion of work.  In some cases, the deposit does not cover all filing fees, in which case you agree to make additional deposits as required to cover all such fees.
  • For businesses based in CA: Flat fees for the work described herein are earned as work on the matter is completed, in the amounts that would have been earned had the work been performed hourly, or in proportion to the percentage of the entire project completed, whichever is more.  Flat fees will be deposited in the firm’s trust account held in Washington until such time as they are earned.
  • For all other businesses:  Flat fees for the work described herein are due prior to beginning work, and are earned immediately on receipt and will not be placed into a trust account.  This does not alter your right to terminate the attorney-client relationship, and if the relationship is terminated, you may be entitled to a refund in whole or in part if the agreed-upon legal services have not been completed.  To calculate whether a refund is owed, we will calculate fees earned on the basis of hourly rates in effect at the time the work was performed.
  • Posted pricing is the starting price and based on several assumptions about the scope and complexity of the project.  Prior to beginning work, we will evaluate your project and confirm pricing.  If your pricing is higher and you do not agree to revised pricing, then any fees paid will be refunded to you.