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Dimitry K., Esq.
Dimitry K., Esq., Attorney
Category: Business Law
Satisfied Customers: 41221
Experience:  Run my own successful business/contract law practice.
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Hi, I want to start my startup in "social network website"

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I want to start my startup in "social network website" field. I want to know what type of corporation and state is good for this kind of business to incorporate.
Thank you for your question. Please permit me to assist you with your concerns.

A few questions first, if I may:

1. In what state are you located now, and if different, in what state are you expecting to primarily focus on?

2. Are you expecting to have partners or shareholders?

3. Do you have any idea for your profits or income--a rough estimate would be fine.

Thank you!
Customer: replied 4 years ago.

I am located in California.

I have one partner for now and we are expecting shareholders.

I have no idea about income


Thank you for you for your follow-up, Alim.

One more question if I may. Are you at any point planning or considering selling this if it gets to be popular?
Customer: replied 4 years ago.

Can you please tell me difference? I am not sure now but there is a possibility that I can sell it.


Thank You


The reason I ask is that for some business structures, specifically an S-Corp, there is the added protection of this entity being unable to own or be owned by other businesses. It would therefore be immune from sales or hostile takeovers. It is a good options if income is likely to be under $200,000 a year. Otherwise an LLC is a better option because it is generally more flexible and permits you the means by which you could expand your business, easily add shareholders, or potentially sell. If you are in California consider looking to Nevada as it has fairly strong and favorable business rules in place for what you are seeking to begin.

Good luck.

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