Paperwork For New Online Business?

Knowledge Kick · 07-18-2009, 01:06 PM

Okay guys so my website is under construction. I have programmers working on it right now and it should be completed within 2-3 weeks. Upon completion, users will pay a one-time sign up fee to become a member. As far as the legal stuff goes, my plan was to create a single business name with a single business account that I could also use for other websites I plan to own in the future as well. Is this a good way to go about things? My main question to you all is, what are the necessary legal documents I need to fill out to make this a legitimate business? I'd also like advice on the best way to go about having a merchant account where all the membership fees would be transfered to. I've looked online for the best merchant account service and found a site called charge.com. Anyone familiar with this? I live in NJ by the way. You're advice is greatly appreciated as I don't want to make any costly mistakes and I want this to go as smoothly as possible.

Thanks again!

Goldnote · 07-18-2009, 02:43 PM

Hello Knowledge Kick,
That is a good idea to have a separate account for your business. As far as a business goes you can be a Sole Proprietorship,Corporation,LLC. You'll have to decide what you want.
You will need a secure merchant account. This way nobody's Financial information is on your server. What percentage does charge.com take for transactions? I personally use Paypal as mine.

Save yourself some time since it's still being developed and have your programmers add an affiliate program to it. This will be a great addition when it comes to getting clients when you go live.
Hope this helps some.

LSnyder · 07-20-2009, 11:35 AM

Make sure you read the contract from your programmers. Did you know that unless the website is released to you in its entirety, the developers actually own it?

As stated by Goldnote, you need to determine which business entity is right for you.

From there you would register your business in NJ (which is very simple to do online). Make sure you have at least 3 business names you are partial to prior to registration in case one is all ready taken. The state of NJ charges a fee of less than $150. Next, you go to Internal Revenue Service for your EIN.

Good luck.

LSnyder · 07-20-2009, 12:05 PM

Assuming you are providing a paid service you will need comprehensive terms and conditions that govern the use of your site, and any payment terms.

Knowledge Kick · 07-26-2009, 10:44 PM

Quote:

Originally Posted by LSnyder

Assuming you are providing a paid service you will need comprehensive terms and conditions that govern the use of your site, and any payment terms.

Thank you very much LSnyder. I actually Pm'd you on the Fastlane forum. I'm not sure if you go on there very much or not still.

One more question guys: As far as the terms and conditions and payment terms go...I can write them myself right? After writing them I can simply have them as a link in the footer correct? I don't need a lawyer to write them up do I? If so, how much does that cost? I rather just do it myself. Is there maybe a guide on things to make sure you include in the terms, etc.? Thank you very much to whoever helps me out on this.

LSnyder · 07-27-2009, 02:38 PM

Hi Knowldege,

I have not been on Fastlane in a few weeks. I've been so busy that I am finding it difficult to get on YE. I always say "I'll log on when I get home" but by then I'm exhausted, kids are demanding (as is the dog) and my night continues with camp prep, laundry, dinner, dishes and the like until about 1 a.m.!

I hope the information I gave you was helpful. Let me know if there is anything else I can do for you.

Good luck!

Lisa

Quote:

Originally Posted by Knowledge Kick

Thank you very much LSnyder. I actually Pm'd you on the Fastlane forum. I'm not sure if you go on there very much or not still.

One more question guys: As far as the terms and conditions and payment terms go...I can write them myself right? After writing them I can simply have them as a link in the footer correct? I don't need a lawyer to write them up do I? If so, how much does that cost? I rather just do it myself. Is there maybe a guide on things to make sure you include in the terms, etc.? Thank you very much to whoever helps me out on this.