Advice needed (Starting a Consulting business)

[Liveformx64]

I am an expert in my niche (industry) currently employed making my employer Mucho Dinero, and I see little of it in the end.

So basically I am leasing my ideas out to companies, and while I already have two clients I am working for independently, I really want to structure this business correctly because I know it will save me many a headache down the road.

The questions I have are two fold:

1. Should I incorporate?

2. Is there someone, anyone of you trust or have used, that can I can hire to help me set up everything properly?

Including:
Taxes
Expenses
Liability
Billing

Basically help with any legal/financial hurdles that may come my way. I am an expert in my field, and I have no desire to become one on the red tape of running a business.

Thanks

[Doku]

I was in almost the same exact boat as you.

Yes, you should incorporate. You should actually set up two companies.
Company A) Has IP, and licenses it out.
Company B) Licenses IP from A. Generates new IP, and sells it to A.

Company B is where you do your work from. In the event of big nasty stuff, company B goes out of business. You start company C, and lease IP from company A, and continue.

As long as you do things this way, your IP is safe, and you can continue to put food on the table.

How to get this all rolling:
1) Call a tech recruiting firm. Tell them that you are not looking for work, but you have a problem that they have dealt with many times in the past, and are looking for help. Ask them who they use for an IP lawyer... For when they are trying to place someone that their previous/current company is claiming ownership of IP, or non-compete agreements, or ...

2) Call their lawyer, and tell them what you are trying to do. Ask them if they can do the legal part of setting up the businesses, or if they have a suggestion of someone who can. (just as you know many good people doing similar things to you, so do they) Also, ask the lawyer who they know that can help with the financials/bookkeeping/taxes.

3) Call the accountant that the lawyer suggested.


In the end, with what you are planning on doing, you want a lawyer that specializes in IP law more than any other field (such as tax law, general practice, etc)
(if you need more help, feel free to shoot me a PM)

[sunj]

What's an IP?

[Dave Kaminski]

I believe he's referring to Intellectual Property; big deal nowadays.

[Doku]

Right. IP = intellectual property. The ideas/inventions that he is currently giving to his current employer that they are making big bucks on, and not giving him the acknowledgment for.