Bill Myers

If your business is more than just a hobby, something that you expect to grow and last for the long term, it can be a good idea to make sure it has its own identity.

By creating a legal identity for your business, you not only reduce personal liability for yourself, but you can gain significant tax advantages, as well as pave the way for future buyout opportunities.

Creating a legal identity for your business involves forming either a corporation or LLC in the business name.

You can do this online in just a few minutes with minimal cost or trouble, and within a week or so, your corporation or LLC will be registered, and the corporate papers will be delivered to your door.

For more about this, see my article "Building a Business for Resell - steps to starting a web business with resale potential".

By giving your business a legal identity, you are preparing for your future success.