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Setting up a Company. You Can Do it Too, cheap!

This will be the Kung Fu Kingdom team’s second weekly article published on our site. Make sure to sign up for the RSS feed or check the website weekly so you don’t miss anything. In this article I will be briefly discussing the reasons we set up a company, why we made the choices we did, and then what you will need to do to set one up yourself. In total, it cost me $120 to register the company, and an additional $340 per year to keep it running. This amount is quite cheap considering the benefits.

Disclaimer: I am not a lawyer, nor am I qualified or intend to give legal advice. All statements in this article are personal statements I am giving based on my experience setting up a small LLC in Delaware. I just want to share my knowledge so that future generations will have an easier time. I’m not sure why I bother; young whippersnappers do nothing but cause me trouble.

Be aware that this article is no substitute for doing your own research. Laws and regulations vary by state, city, and county, so make sure to double check your specific situation before forming a company. Sometimes if you work for a company (you have set up) that is formed in a state other than the one you reside in, you will need to pay additional taxes to your state, city, or county. If you are ever unclear about your situation, consulting a lawyer is typically a good idea.

By set up a company I mean filing the required legal paperwork in order to make the company a legal entity. Why should you do this you ask? Well gosh Joe-Game Developer, that is a great question!

If you do not set up an official and legal company, then whenever you do work with someone you are, typically, defaulted into a partnership. That means that no matter how little work they did, and how much spine crushing, bone shattering work you did, each person who worked on the project is entitled to an equal share of the profits. That is no good. Instead you should set up an official company with an operating agreement signed by all members. This way you can outline exactly how profits will be split. This is the way to go.

Internal Scorecard #9: Reestablishing Order



This is the ninth internal scorecard I've published. I write these for the mix of showing you what productivity and production looks like from the inside so you can get another perspective, and it because it end-points my weeks and helps keep me on-track.

This one covers 14 July to 20 July.


Hopefully this cycle of Internal Scorecards 6, 7, 8, and 9 serve as useful and profitable reading for you.

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