Online Incorporation MaxBlog

Naming your new business is probably the biggest decision you will make about your budding enterprise…it’s what the world will know and remember you as so you want it to be practical and memorable too.

And you will want to spend some time thinking about this too – don’t simply go with the first thing that pops into your head or your gut instinct. Chat it over with friends, do some research and come up with several ideas before making a decision.

Before doing any of this though you may want to do a trademark/name search to find if there are any other businesses out there using that name. You would hate to go through this arduous process just to find out that someone already has that name and has trademarked it.

Incorporating a business with a trademarked can be a costly mistake – at minimum you will be forced to change names and incur all expenses with doing that.  Next, you could be sued by the trademark owner and if you use a federally registered trademark improperly, you could really be in trouble. In this instance, a court will assume you knew the name was federally registered and consider you a “willful infringer,” meaning you could be put on the hook for large damages and the owner’s attorney fees.

If you choose to incorporate a business online with MaxFilings, we do a preliminary name check as part of our online incorporation process.

However, save yourself the trouble before hand when you’re deciding on what to call your new venture and do a quick trademark/name search (U.S. Patent and Trade Office) for your new business or products and also do some general searches on the Internet to see how the name is being used. You can also use a fee-based service like Thomson’s SAEGIS database.

Whatever you do, look into it…it will save you in the long run.

We’ve all heard the news – supposedly the worst recession in a generation is nearing an end. With the advent of bailouts and massive government stimulus, many political leaders are playing the economy up in hopes a strong recovery is under way.

Of course economic recovery would mean people can find meaningful full-time work and begin rebuilding their lives.

And of course, many entrepreneurs and small business owners have been hanging on a thread for the last two years waiting for a meaningful recovery to get underway – according to a recent National Federation of Independent Business (NFIB) study, 53% of small business owners believe the economic climate will worsen in the next six months – that’s up from 37% just a month ago!

Other tidbits from the survey – the number of businesses saying it’s harder to get a loan rose to 15%. One good bit of news, 15% of businesses say they plan to hire, which is up a couple of points from the month before.

But the NFIB’s optimism index came in at 86.8 in March. Readings below 90 for this long is unprecedented (18 months straight to be exact). Nine of the ten components the NFIB uses to arrive at this optimism index number either fell or remained unchanged from their readings in February – not the “picture of an economic expansion” as so eloquently expressed by the NFIB.

Take a look at this report to see for yourself. While the economy’s future is uncertain, don’t let that dissuade you from incorporating a business. Many successful companies got their start during the Great Depression and other recessions that have rocked the U.S. since.

If you have a good product/service that people in a recession would find useful, don’t let the economic numbers discourage you…incorporate online today and when things finally turn around, you will be in a good position to really grow your business.

After working for years in an office with coworkers, it can be very challenging to work from home alone. There’s no one to go to lunch with, bounce ideas off of or vent frustrations.

How does a person working at home avoid feeling isolated and motivated to be as productive as possible?

A new article in the online incorporation knowledge center courtesy of Leah Grant has some great tips on how to cope with the traumatic change of working with others nearby to by yourself at home.

Tips include:

1.    Find an accountability partner
2.    Find or join a Mastermind group
3.    Join offline networking groups
4.    Join your industry’s professional organization
5.    Schedule time every week to reach out to customers and colleagues
6.    Try to work outside your home at least once a week

Working from home doesn’t have to feel like being trapped on a deserted island. Read the article for more detail on how you can ensure success in running a small business from the confines of your home.

Franchises are sometimes a good option for entrepreneurs considering business incorporation online. As we’ve explored before, there are things you need to consider when comparing venturing on your own or incorporating a franchise.

If you’re considering a franchise, there’s much more than just whether it can make you money or not. You have to be sure you enjoy what you’re doing and if you have the skills for that.

Which leads to step #1:

Consultation

First thing you need to do is evaluate all your options – our online incorporation blog post from September advises whether franchising is for you or not depending on your goals. Talk with people in similar industries and others in your community.

Gather as much information as you can!

Next, if you decide on a franchise, read the financial disclosure document (step #2) very carefully, word for word.

There are many things you can learn from the corporation’s FDD – is it financially viable?…what other franchisees are in your state?

Finally, get some professional advice (step #3) from an accountant and/or business attorney. Sit down and develop a business plan and consider the proposition’s profitability. Don’t make any final decisions before talking with the pros.

Read Three Steps to Evaluating a Franchise for more.

One of the benefits of the digital age is the fact that there is no age limit to starting a business. Before, banks would not lend to someone who hasn’t been in the corporate world for many years and demonstrated a certain maturity.

But the Internet makes forming a corporation on a shoestring easy – many new and successful businesses like Mark Zuckerberg’s Facebook are routinely started in college dorm rooms.

There are many examples of innovative young people using their drive and initiative to launch their own businesses. And now they will be getting a shot in the arm thanks to the Ewing Marion Kaufmann Foundation and the University of Miami. The Kaufmann Foundation awarded the university a $75,000 grant for the Launch Pad, a program to help college students start their own businesses while they’re still in school.

The Launch Pad started in 2008 and to date has helped over 750 students and alumni. This effort has seen the launch of 20 new companies. If it continues to be successful, this program may be replicated at other universities.

Have a new venture that you’re trying to get off the ground? We invite you to consider incorporating online through MaxFilings where you can form a corporation in as little as 10 minutes or save your information and come back later.