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How to form an LLC

The concept of the LLC is attributed "to the German law of 1892." However, it may be argued that the State of Pennsylvania already passed a similar law in 1874. Each company that enacted the LLC law included simular characteristics: the words "Limited" in the name of the company, the business has "a full juristic personality", a member of the company could control who joins the company, the firms could be dissolves when a member dies. This form of company exists nowadays. You can form your own now.

Choose a name

The first step is an important one and should be done very carefully. You not only need to choose a name for your LLC corporation, you need to find out whether someone else has that name. Once you have chosen a name, add LLC or Limited Liability Corporation to the name that you have chose. Make sure as well that the name you have chosen does not include words that are prohibited by the country. You will need to contact your local government to find out what these words are. Make sure also that the name "won’t violate another company’s trademark."

Company officers

Once you have chosen a name, you will need to decide how the company will run and who will be the company's officers. Limited liability corporations are required to state who the officers are. If someone leaves their position, then this information will have to be filed with the government. Annual accounts, returns, and other information must be filed with the country. Moreover, the secretary for the company must be certified.

File the necessary paperwork

Once you have gone through the steps to set up the LLC, then you must file the necessary forms with the Companies House. The form is called IN01, and it should include, the name of the company, the new business's address, the names of the secretary and director or directors, subscriber details, as well as "share capital information and the prescribed peculiars relating to each class of shares (only for companies limited by shares)." The form is available through the office of the Companies House or their website. Once all of the steps have been followed successfully, then you will be able to begin trading as a company.

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