Online Auction Site

[carkingkm]

I am starting up an online auction website. I am a minor, how will I be able to register a business in my name? Can I? Could I with a trustee?

[LSnyder]

One thing you need to check into is what states require an auctioneers license. I just researched this for a client who is also starting an online auction site.
Recently, I believe PA challenged Ebay's licensing. Considering Ebay's size the challenged was dropped. However, they may not be so lenient with smaller businesses. From my notes (and I did not go through all the states) I can tell you that the state of Kentucky does require the license. If you would like the phone number it is 502.492.7145 and I spoke to Lavond. Anything with the word auction is required to have a license.
I will check on the PA license for you and make sur that is the state that it is required.

Yes, you can register a business in your name with a trustee, usually a parent.

Should you need any further assitance please feel free to contact me.

Good luck.

Kindly,

Lisa

[bmiles]

I agree with the post before me. A beneficiary is ideal until you are of age. What this mean is you should get some you trust like a guardian or parent, to have everything in there name while you run the business. Properly protect your assets and trustee's assets within the company and then just switch your name to be the sole owner.


B.

[laurieming]

i don't think a business need for just a auction website, the most important thing is the price and quality of the items.

[LSnyder]

Some states do require you to have an auctioneers license regardless of whether or not you are strictly selling online. As long as you are selling through their state, you may be required to obtain this license.
As i previously stated, there was a challenge to Ebay's licensing. As a result, considering the size of ebay it was let go however, the smaller business may not fare as well. Better to be safe than sorry.

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