Startups Anonymous Est. 2013 · Read-only archive
Questions

Should I make an LLC before I run a Kickstarter campaign?

Should I start a LLC before I run a kickstarter campaign. How likely is it that someone will take my idea for a service the second I start a campaign and is it hard to do so if I start an LLC or is this competition inevitable and I just have to deal with it?

Related: How to form an LLC

5 answers from the community

AAnonymous· Feb 5, 2015

You can't copyright a business model. Once it's in the public domain, anyone is free to compete with you. They can't use your name, or your trademark...but since it's merely a service you are offering, others are free to expand on that. Also,

I wouldn't use kick starter if you intend to raise money down the line from a VC...it's great for small projects, but it's a hindrance when you're trying to raise further capital down the line. If you want venture capital, set up a Delaware corp.

Good luck on your project!

AAnonymous· Feb 5, 2015

Yeah setup a Delaware c-corp. Mostly for tax reasons if it's going to be a bigger crowdfunding campaign, otherwise you'll be personally liable for all the funds received with income tax,

AAnonymous· Feb 5, 2015

Thanks for the advice

AAnonymous· Feb 5, 2015

If you publish, outside of a book or similar copyright-able thing or an actual tradeark, you can't protect it.

AAnonymous· Feb 10, 2015

LLC protects your personal assets if you are sued, and that's about it.