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Florida LLC

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Florida LLC

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Congrats on owning a business!

Setting up an LLC, or other type of entity, protects you, personally and your business, shielding some assets, while providing an entity that should own everything created by its employees, consultants and vendors. 

It’s important for protecting your iP too.

Just like a separate business bank account is needed to keep business money separate from personal money, having an LLC in place is needed to keep intangible property separate from your personal property.

It’s best to do this early, avoiding sticky tax implications. (If you didn’t do it early, the next best time is now!)

This training should allow you to save hundreds, or even thousands, by easily completing the instructions in these step by step video trainings yourself.

Most of the training includes video, but studies have shown that a mixture of text and video training is often better. So, before launching the videos, check for text and downloadable documents below the videos first. 

You might not need everything provided in this training. That’s OK. Skip right over the things that you’ve already done or taken care of. If you benefit from just one training that saves you money, time or frustration, then this low-cost program has been worth its price. Right? 

And if you missed out on even one important step that you should have taken to protect you and your business…

Then, you would regret not having completed this training.

It should save you thousands in legal fees, not to mention the time and loss of focus that legal problems can cause.

From a legal perspective, a business gets started whenever you start selling products or services to the public.

If you are an individual owner, then your business is a “sole proprietorship” by default. If you have one or more people joining you, then your business might be considered a “partnership” by default. 

There’s no limitation on your personal liability under either of these defaults!

A partnership even makes you liable for something that your partner does. That should scare you. It’s why law firms seldom form partnerships anymore.

And if lawyers don’t accept the default, then why would you?  

For many new startups, a limited liability company or LLC is the right choice. There’s a training that will help you to decide if you’re not certain.  

Then, there is the question of where to register you business. 

Since you or your company are located in the United States, you should register your company in your state, if possible.

There is training for Florida business owners that goes step-by-step through registering a Florida LLC, because Florida makes it very easy. Anyone can setup an LLC in Florida.

If you and your business are NOT located in Florida, it is still helpful to see how it’s done in Florida, but don’t expect your state to be as easy as Florida. 

Regardless of where you decide to register your company, Florida, another state, Delaware…

It’s not very complicated, and there are services that can assist you. (See below for some registered agent services that may offer low-cost LLC services.)

Sometimes your accountant or CPA may help at a reasonable cost. 

One caveat, if you’re looking to raise substantial investment capital, then you should speak with a securities attorney in your state. Securities laws are complex and penalties for getting this wrong include hefty fines and jail time.

You might have heard that many corporations register in Delaware. For local businesses, that’s usually not that great of an idea. You have to pay for a Delaware registered agent in Delaware. You can get sued in Delaware. It’s often more expensive to register in Delaware than your home state.  

If you register in your own state, you can avoid these issues. You can even be your own registered agent in many states, if you have a street address that has an adult available during the day. 

OK. When you’ve read this, you’re ready to get started!

Florida LLC

Paid Subscriber

What is a registered agent? A registered agent is usually needed in the state of registration to accept "service of process" on your company or corporation. Service of process is how lawsuits get started. You want to take this seriously. You need to take action within a short period of time if someone serves a complaint on your company or corporation, usually 21 days or less.

Text lesson

Paid Subscriber

Are you confused between choosing an LLC and a corporation? Just watch this bonus training to help make your decision easier.

Video lesson

Paid Subscriber

These step by step instructions walk you through setting up your Florida LLC.If you have questions about what type of entity is right for your company, then complete the bonus trainings.

Video lesson

Paid Subscriber

If you choose to setup a Florida corporation, you may do it yourself, but only if you own 100% of the shares. If you want to sell shares, talk with a securities or corporate lawyer to help you with the law and legal agreements needed for selling shares of your corporation.

Video lesson

Paid Subscriber

This bonus training should help you to choose one of our operating agreements to use for creating your custom operating agreement.(You should download and complete on of the operating agreements in the next lesson.)

Video lesson

Paid Subscriber

Are you planning to have more than one member? Then, you need an operating agreement. This bonus training should be used to create a custom operating agreement that will protect your intangible property. Even if you choose to have a corporate attorney create your operating agreement, complete this training. Some corporate attorneys are not up to speed on intellectual property terms that should be included in your operating agreement. 

Video lesson

Paid Subscriber

An EIN or FEIN are needed to open a bank account and may be needed when you renew your Florida LLC's registration. So, why not get one now?These step by step instructions make it easy to obtain your EIN from irs.gov just as soon as your LLC is officially registered. You'll receive confirmation of registration from Florida when your LLC is registered, usually via email. 

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About the teacher

Chris Paradies

Chris Paradies demystifies intellectual property for innovative and creative business owners. by bringing his more than two decades experience helping entrepreneurs, as a patent and Florida Bar certified IP attorney, and his unique experience -- graduating from West Point, U.S. Army officer, Ph.D. scientist, and earning his law degree, summa cum laude, at nights while working full time -- to the task. Tireless efforts paid off, making management of 'intangible property' easily understood and affordably implemented using trademarks, copyrights, trade secrets and patents, without wasting tens of thousands on the wrong IP.

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