LLC formation - Lawyer, CPA, or online?

searcher profile

September 23, 2024

by a searcher from Harvard University - Harvard Business School in Washington, DC, USA

Hello,

What are some of the benefits of using professionals such as lawyers and CPAs (other than establishing a working relationship with them) to create your acquiring entity LLC?

I'm referring specifically to firms I could use in the future for DD against generic online services such as Northwest, LegalZoom, ZenBusiness etc.

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commentor profile
Reply by a lender
from Eastern Illinois University in 900 E Diehl Rd, Naperville, IL 60563, USA
The biggest benefits are the advice you can get about what is the right type of entity. You will also eventually need By-Laws, an operating agreement, a partnership agreement, etc. depending on what type of entity you are forming. If you have partners and plan to bring equity investors in, the type of entity and structure can make a big difference. So depending on what you are looking to do, having a good accountant and attorney can be very important to be sure you structure everything right.

If you just need an entity for marketing and personal expenses and no one else will be involved, then just setting one up is not hard. Good luck.
commentor profile
Reply by a professional
from University of Michigan in Detroit, MI, USA
Hi ^redacted‌, it depends. If you're looking to organize a single member LLC to conduct your search, you can for sure use a provider like Legal Zoom. You can even use that entity to purchase the target company. But if you are looking to do anything more complicated than that--enter into a partnership, take on investors, etc.--I recommend consulting with a lawyer. Let me know if you'd like to discuss further. DM me here, or reach out directly at redacted
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