I don’t write much on this blog about entrepreneurship, but since I know many of my readers are self-employed, I thought it would be worthwhile to share my thoughts (and experiences) on the topic of business formation.
If you’ve decided that you want to form an LLC or corporation for your business, it’s probably a good idea to get help. Aside from using a local attorney, the two biggest names in the industry are LegalZoom and MyCorporation.
Update: MyCorporation is currently offering their most basic level of LLC and incorporation services free of charge. (You’ll still have to pay the state’s fees of course.) While my own experience with them wasn’t ideal, free is hard to beat. Click here for more info.
My Experience with LegalZoom
I used LegalZoom to form my own LLC, and I was quite happy with the service. Everything went smoothly:
- 4/13/08: I place my order for an LLC filing.
- 4/16/08: I get an email to inform me that they checked the name, and it was available.
- 4/22/08: I get an email informing me that the paperwork has been filed with the IL Secretary of State.
- 4/29/08: I get an email informing me that the filing has been completed, and they’re shipping me the confirmation paperwork.
- 5/1/08: I receive my copy of all of the official paperwork.
Just under 3 weeks, start to finish. No hassle at all, and they kept me up to date the entire time. I couldn’t be more pleased.
My Experience with MyCorporation
I haven’t used MyCorporation to form an LLC, but I did use them once for a DBA filing. The experience wasn’t so great.
At first, it appeared that everything went smoothly. But, to my surprise, three months after MyCorporation told me the entire process was finished, I received a letter from Cook County stating that all of the paperwork was not in fact filed, and that the entire filing had become null and void due to 90 days having passed since the process was started.
In the end, I got my money back, but the entire thing was a waste of time, as MyCorporation never did manage to complete the DBA filing.
My Recommendation
- Go through LegalZoom, or
- Use a local attorney.
Click here to learn more about LegalZoom’s business formation services.
Click here to learn more about MyCorporation’s services.
Full disclosure: I am a member of both LegalZoom and MyCorporation’s affiliate programs. That means that if you place an order after clicking through one of my links, I receive a commission. For what it’s worth, the commission rate on MyCorporation orders is higher, so if you really want to go ahead and use them, be my guest. 
Which LegalZoom package did you use? Economy, Standard, or Express Gold?
Economy. To me, the additional services included in the other two packages have no value. (Possible exception being the “rush” delivery, but I was in no hurry.)
Mike
I appreciate the fact that you openly tell about the affiliate links so that everyone knows.
Also, did you happen to use legalzoom for making a living will or a living trust or whatever.
I’ve only used LegalZoom for creating an LLC, never for creating a will or living trust. (I’d guess the process is similar though: fill out an online questionnaire, receive some forms in the mail with sticky notes indicating where to sign, send them back, receive confirmation that everything has been taken care of.)
Wow…thats simple…I will certainly consider this after Iam thru’ with my daughter’s name change later this year and yes I have no qualms going to LZ.comthrough this site. After all, i have to be nice to my fellow chicagoland resident.
I hope everything goes smoothly for you.
And, thanks!
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