Why form an Oregon LLC?
The biggest reason that most sole proprietors will form an Oregon LLC is to have their personal assets protected from liability. This protection is afforded to them by the laws and regulations of the state of Oregon. By forming a legal entity, there is a separation of the individual from the entity itself. Therefore the individual, member or owners are not responsible for the debts and obligations of the LLC. So in the event of a lawsuit, no personal assets are vulnerable to litigation. So let us form your Oregon LLC so that you can start protecting your personal assets today.
Naming guidelines for your LLC
Limited Liability Companies must include Limited Liability Company or LLC in their name. A limited liability company name shall not contain the word or abbreviation “cooperative,” “corporation,” “corp.,” “incorporated,” “Inc.,” “limited partnership,” “L.P.,” “LP,” “Ltd.,” “limited liability partnership,” “L.L.P.,” “LLP” or “partnership”. A limited liability company name shall be distinguishable upon the records of the office from any other limited liability company name or any other business entity. Names that sound the same, as long as they have different meanings are ok. ”Banned, LLC” and “Band, LLC” would not conflict, even though they sound the same, they are not similar in meaning. Other things to keep in mind is that the Secretary of State will ignore the use of articles (the, an, and), the use of spaces, capitalization, and special characters.
Start your business in 8 easy steps
- Step 1: Preparation; it's always good to have a good business plan.
- Step 2: Choose a business structure; LLC or Corporation, make sure you know which type of entity will work best for you.
- Step 3: Choose a business name. Names guidelines are listed above
- Step 4: Register your business: You need to submit your articles or organization to the Secretary of State along with the appropriate fees.
- Step 5: Understanding Tax Obligation; do you know how to utilize the advantages and disadvantages of a LLC or what state to file in.
- Step 6: Check Licenses; our Business Licenses Compliance Package will generate any license that your particular type of business may need.
- Step 7: Protect your ideas; do you have trademarks, or patents or anything to protect your ideas from copying?
- Step 8: Ongoing requirements; you must submit annual reports to the Secretary of State in order to maintain good standing. Failure to do so may result in your company being administratively dissolved.
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