A patent’s cost varies depending on its type, complexity, and if you hire an attorney. In general, you can expect the following costs to file a patent: USPTO fee (government): $50 to $700 Maintenance fee (renewal): $400 to $7,400 per year Patent lawyer (search and application): $1,000 to $10,000 Total patent cost: $1,500 to $15,000…
All Startup Legal Articles
LLP vs LLC: What’s Best for Your Business?
The main difference between an LLP (limited liability partnership) and LLC (limited liability company) is that the LLP provides business asset protection from another partner’s negligence. If one partner were to get sued because of negligence, only that partner’s assets are held liable. Common LLP businesses are law, accounting, and architecture firms. When To Form…
Registered Agent: What Is It & How To Get One
A registered agent (RA) is a business’s official contact to receive important documents—a summons, subpoena, or registration renewal. While every state requires a business to have a registered agent, regulations may differ. Several states allow the business to be its own RA, and others don’t. If you’d like to hire a company to serve as…
LLC vs S-corp vs C-corp: What is the Best for Small Business?
The limited liability company (LLC), S corporation (S-corp), and C corporation (C-corp) are all business structures that you may be considering. The LLC is a low-maintenance legal entity that’s best for a simple business. An S corporation is a tax status created so that business owners can save money on taxes. A C corporation is…
LLC Electing S-corp Status: What, Why & How
A limited liability company (LLC) electing S corporation status for tax purposes could lessen a business’ tax bill by thousands of dollars. An LLC pays a 15% self-employment tax on profits, while an S-corp only pays 15% on the owner’s salary, not the entire profit. You can file IRS Form 2553 to elect as an…
How to Use Trademark.com to Protect Your Trademark From Infringement
Trademark.com, which sponsored this article, is a web-based service that helps small business owners easily and affordably protect their brand identity. Whether you’re ready to trademark your brand with the United States Patent and Trademark Office (USPTO) or already have a mark on-file, can simplify the trademark registration and monitoring process. The service helps you…
How to Create an LLC Operating Agreement [+ Free Templates]
An LLC operating agreement is a binding contract between members describing how profits and losses are shared and whether your LLC is member- or manager-managed. It serves to resolve member disputes, dictate responsibilities and more. Operating agreements aren’t always required by law but have an attorney or legal service draft one to include in filing…
How to Create a Business Partnership Agreement [+ Free Template]
A business partnership agreement is a contract between partners that contains terms like the business’s purpose, partner contributions and voting rights. A partnership agreement isn’t required to form a general partnership and doesn’t have to be filed with your state. However, have your partners sign one to create a legally enforceable document for resolving disputes….
How to Set Up an LLC on LegalZoom in 7 Steps
An LLC is a business structure that provides its members tax and liability benefits. Filing LLCs is a state-specific process, so it’s important to draft accurate articles of organization with your state. You can file an LLC yourself, but we recommend hiring an attorney or legal service to show you how to set up an…
Limited Liability Partnership Agreement Template + Pros & Cons
A limited liability partnership (LLP) agreement is a professionally licensed partnership that protects partners from personal liability of business decisions. These legal entities serve as pass-through entities for tax purposes and are organized to specifically help certain licensed professionals such as lawyers, accountants or architects. An LLP is easy to set up and administer. You…
Taxpayer Identification Number (TIN): Definition & How to Get One
A taxpayer identification number (TIN) is a unique identifier for a business, employee, or contractor that can be used on US government tax forms. Many people already have a tax ID number in the form of an employer identification number (EIN) or Social Security number (SSN). Having a TIN allows a business to obtain a…
5 Pros and 5 Cons of an LLC
Limited liability companies (LLCs) are the simplest and most inexpensive business structure in the United States. The pros and cons of LLCs include being easy to form, protecting owners from personal liability, and offering flexible tax options. However, LLCs also make raising money difficult and can misalign owner tax burdens and their earnings from the…