Introduction
Manual work has never been anyone’s piece of cake. Paperwork makes even the most straightforward task hard. Good news! Technology has eased things up by providing online services. As the positive impact of technology knocks in, you as a business owner should embrace that and grow your business with ease.
Dealing with legal matters is time-consuming and requires patience. Overcoming the start-up fear is a big step in creating an enterprise. We all know having a smooth-running business is something to be happy about. The hardest part is meeting all the legal requirements to enable compliance.
The registration process has its fair of challenges. The cost implication is also high, making the small business owners seek the cheapest services. Online incorporation saves you a lot as compared to using the services of an attorney. There are few issues to worry about since you are guaranteed a good service.
In this review, we will look at MyCorporation vs. LegalNature in regards to their services. We will dwell on the pricing of their products and services and customer feedback. You can also look at the independent MyCorporation Review and LegalNature Review to help you understand both companies better.
Background
MyCorporation and LegalNature are among many online incorporation service providers that help in business formation. Other business formation service providers include Swyft Filings, LegalZoom, Corpnet, IncFile among others. They aim to do your LLC filing while following the state guidelines with minimal effort from new business owners.
They have a dashboard that is friendly and easy to follow. You only need to follow the step-by-step guidelines given, and your company is registered within no time, which eliminates the hustle associated with company formation.
When you register your business, you make it a legal entity, and hence your interests are protected. You will run the business smoothly, and you won’t need to worry about not compliance.
Having someone to manage your business professionally or offer legal assistance has an advantage since you can concentrate on the business’s important things. Remember, the registration of a company makes it liable to its debts and obligations. Thus, your personal property is safe.
MyCorporation
MyCorporation is among the top LLC formation service providers. It is one of the most experienced online incorporation companies. Having been in existence for the last twenty years, you expect that they provide excellent services. They have served millions of businesses by helping in their company formation. Whether you choose to form a corporation or a limited liability company MyCorporation got your back. Their packages are designed to suit your business needs.
Some of the services you get are:
- Online document filing services
- Start-up trade services
- Filing your trademarks
- Copyright filings
- Certificate of good standing
- Logo design
- Healthcare
- Certified copies
- Corporate resolutions
Why Choose MyCorporation for your LLC Formation?
1. Over 20 Years Experience
MyCorporation has been in business for a while, making it competitive. So many companies have prospered through their services which makes it the most trusted LLC formation service provider. Managing and maintaining your business is made easy.
2. Deals with all 50 States
Imagine an LLC service company that understands your state laws. That is a great relief. You will have a stress-free business-no need to worry about law enforcers coming for your neck. MyCorporation covers you.
3. Over 1 Million Business Done
Overwhelming positive reviews. From the customer feedback, you will see the impact on the businesses. Several millions of quality service providers and customer experience are not a joke. Thus, building confidence in their services.
4. Filing Annual Reports
A company’s achievement, mission, and history are summarized in annual reports in the past year. Thus, it is an important document to the business.
5. Positive Reviews
With the number of reviews given, it is easy to see the level of trust people have. You can only associate positive feedback with quality service.
6. Customer Service
A customer who has received good treatment will always come back for more. MyCorporation understands that too well, and that is why they have a reliable customer support team. Any issue you raise is well handled.
How does MyCorporation work?
MyCorporation performs most of the start-up work to see that you get your business registered into a legal entity. Before then, there are several steps you need to complete.
- Selection Stage
Here you select the state you are in and what type of business you want to start. You only pay for what you use.
- Check your Package and Add-Ons.
There are four formation packages to choose from. Once you place your order, it becomes easy to follow-up on the progress.
- Add ‘about’ Information
Give clear information about your business and yourself. You can include the person or company that will manage your business, any members or partners of your business, name your registered agent, business address, and others.
- Payment Information
To complete your order, provide the payment information. Several ways of paying are available, like using Visa cards, Master Cards, Credit card, and PayPal.
When MyCorporation has all of the information they require, they will file your formation paperwork with the state on your behalf.
Distinguishing Features
The two main areas that MyCorporation concentrates on are the formation and growth of your business. For that reason, they offer a variety of services.
- Helping with an easy method of starting a new digital company
- Making it easy to explore complex state requirements
- In all US states, they match legal and filing requirements
- Making enterprise formation plans from just $99 inclusive of state fees
- Giving you the option of B-Corp, LLC formation, nonprofit, C-Corp, an S-Sorp
- Filing Articles of Incorporation and other vital documents
- Making it possible to obtain enterprise licenses, permits, etc.
- Researching to find the perfect company name with an enterprise
- Name availability search
- Creating the choice of 4 enterprise formation packages
- Guiding you on which business structure is suitable for your situation
And when it comes to growing your business, this is how they help.
- Generating easy online tools for applying trademarks and copyrights
- Serve as your Registered Agent
- Help in filing Annual Reports and other ongoing requirements
- Assisting to start the proper tax treatment (i.e., S-corp status)
- Helping on how to draft or update an operating agreement
- Tracking corporate bylaws and minutes
- Document storage and document filing, which is done online
- Keeping you updated on ongoing reporting and filing requirements
LegalNature
LegalNature is an online platform that offers both company formation and legal services. Getting your business legal forms has never been this easy. They created the platform in the spirit of eliminating the high charges associated with attorneys. Access to affordable legal documentation services is the core agenda of LegalNature. Of the three founders, there is an attorney, a technology guru, and a great entrepreneur. The three great minds have enabled many people to save on legal fees.
With a partner like LegalNature, you don’t need an attorney to file your legal document as they will provide the document template of your choice.
The online legal service provides you with samples of legal documents you might need. All you need to do is to seek clarification where you don’t understand and your legal issue is sorted. There is a support team waiting to answer any query you have.
The services you get include:
- Marriage and divorce cases
- Business formation
- Property and business affairs
- Health care
- Business
- Business services
- Commercial property
- Estate Planning
- Human Resources
- Property
- Personal affairs
- Tenant and landlord agreements
All you will do is select the legal forms that fit your needs. You will download the template form and get to follow the step-by-step guidelines. When done filling the forms, you can save the documents for later.
Some of the documents they have are
- The living will
- Business plan
- Lease agreement
- Confidentiality agreement
- General affidavit
How LegalNature Works
LegalNature is easy to use even when making bylaws. The templates offered are both in word document and pdf. Here you are given an accessible format to draft your documents. Then you take them to a legal professional to have a look at them.
1. Select the Document you Need
There are several samples available depending on your case. Once you log in, select the document and sample you need. When you get your preferred selection, start editing. Always Don’t forget to save your copy after you are done downloading.
LegalNature is a safe place to store your documents.
2. Answer Prompted Questions
Customize your form by answering all the questions you get. Ensure you comply with your state laws. The questions are meant to tailor your document to your preference.
3. Confirmation
Review your forms to check if any detail is missing. Edit any question you may have answered wrongly. LegalNature will then compile it for you by adding legal terminologies.
4. Downloading
When you get satisfied with the answers you have given, download the forms. You can have a word or a Pdf document. To quickly edit your document downloading using the word format.
5. Document use
You have edited the document, and you now have a final copy. Take the forms to a professional if need be. Use the completed forms as per your initial desires.
Why Choose LegalNature?
1. Many Documents Templates
Talk of available and easy-to-use services. You will get hundreds of services done for you. Just download the document that features what you require. Customize the forms and let LegalNature take over the rest.
2. Easy to customize a form
After filling the form, you will follow the steps of downloading from the platform. There are a few questions that you answer to get a tailored legal form. Every question will direct you on how to adhere to federal and state laws. You abide by what your state law dictates about getting any legal questions answered. You don’t have to visit a law firm.
3. A 7 day free trial
LegalNature has this free trial in their monthly subscription. Take advantage of the free trial period and learn how it works. To avoid the monthly charges, remember to cancel the trial before the lapse of seven days. Otherwise, you will start to charge a monthly subscription.
This option is excellent. Seven days will allow you to decide if you can depend on the platform. And this feature makes it an added advantage.
4. A secure platform
Once you are done editing your documents, save them. You can still access your final document in the future. The legal forms and your information is stored using 256-bit encryption. So, it is a safe place.
5. Customer Support
Customer service is essential, and LegalNature knows this too well. They have an excellent customer support team. Do not delay sending an email or make a call to verify any online legal needs. Their experienced staff is ready and willing to offer you support.
6. Pricing
LegalNature has two packages for their price model. The options are monthly and annual subscriptions. For the monthly package, you pay $38.95 and $84 for a yearly subscription. If you pay annually, it amounts to $7 per month, and you save up to 83% if you are paying monthly. Where you want a single document, you will pay $34.95.
These prices are lower than the attorney’s consultation you could have paid. An annual subscription is way better than a monthly subscription.
7. 30 Days Money Back Guarantee
Where you are not satisfied with the services, you can seek a refund. There is a window period of thirty days to file any complaint. The 30 days money-back guarantee is an irresistible mode of solving a dispute.
Additional Services
They have several other services apart from offering legal help. These include:
- Certified copies
- Certificate of good standing
- Employer Identification Number(EIN)
- Articles of amendment
- Registered agent service
- Foreign entity registration
Additional services have a one-time fee of $20 for certified copies. For registered agent service, you part with $125, which is paid annually.
Additional Positive Feedback
LegalNature also stands out because:
- It is a friendly platform and easy to use
- It is cheaper than hiring an attorney
- You get what you want
- Professionally tailored documents
You choose LegalNature If
- You want to create legal forms without involving an attorney
- you own properties or real estate
- You want a pocket-friendly legal help
- You need to file for a divorce or separation
- Various situations require legal forms
You choose MyCorporation If
- You are starting a service that requires assistance in registering with state agencies.
- You are looking for the most efficient and accurate way possible of running the business.
- You are a nonprofit founder looking for the formation of nonprofits.
- You want services that are under one roof. That is a “one-stop-shop” for legalizing your business.
Few platforms offer such a wide variety of services, from trademark registration to registered agent services. If you’re considering having a trusted partner for years to come, MyCorporation is an excellent choice.
Common Things they Do
1. Great Customer Service
Both have a way of getting the customer to click the order more button. Their support staff works tirelessly to deliver. From the reviews they have, you can see how customers react.
The offices are open Monday to Friday. You can call, email, or fill web forms for any queries you may have. Sure enough, you will get a response within a short time.
2. Easy to Use
The guidelines are given, and the forms are easy to understand and fill. You do not require an expert to explain how to navigate through the dashboard. MyCorporation’s dashboard is user-friendly, while LegalNature questions are easy to answer.
3. Refund System
In case of any dissatisfaction with their services, you are allowed to ask for a refund. For LegalNature, they do not question but refund within thirty days. MyCorporation will reach out and try to sort any underlying issue. Where you don’t agree, you are given up to sixty days to initiate a refund claim.
MyCorporation vs. LegalNature Pros and Cons
MyCorporation Pros
- It has an impressive number of reviews which shows customer royalty. From the customer’s feedback, you can tell the company is reliable.
- It comes with extra financial services like employee unemployment insurance.
- They have been in business for the last twenty years, and thus customers have confidence and trust in them.
- They regularly offer 50% off any limited liability company filing or corporation through a coupon.
- Access to unlimited customer support.
- Tailor-made products.
MyCorporation Cons
- Registered agent service is not included in the Basic and Standard packages. Other companies offer a full year of a registered agent in all of their packages.
- The basic package is charged at $99, which is high compared to the services included.
LegalNature Pros
- They have an easy to understand and use dashboard
- Pocket-friendly services in all the fifty states
- Simple to customize
- There are different templates, samples, and formats to choose from.
- Several legal forms created by lawyers are made available
- You can work independently from where you are without booking appointments.
LegalNature Cons
- No lawyer to give you a professional opinion
- There is no legal consultation
- Hard to know the law associated with your needs.
- You have to pay an experienced lawyer in some instances
Similarities Between MyCorporation and LegalNature
- Assist business owners in saving on attorney’s fees
- They are online platforms and can be accessed from anywhere.
- You pay for what you need.
- Learning Centers – They have blogs that share a lot of insights and ideas. You visit the pages and read through for free. Thus, for those who don’t understand what to do or expect, then the blogs are super-resourceful and give you a grasp of the legal advice you might need.
- Easy Processes – They are easy to use, and working with either is simple. They have an easy-to-use dashboard, and it will only take you a few minutes to finish filling up the required information.
- Overwhelming A+ ratings – Both platforms have proved their worth to customers by maintaining excellent feedback.
- Great Customer Support – The customer feedback is overwhelming. Both are highly-accessible in a variety of ways, including emails, phone calls, or online chats. You get questions answered, and concerns addressed efficiently.
- Money-Back Guarantees – Many companies do not have money-back guarantees, thus killing customers’ trust. Here, both of these incorporation companies are so committed to customer satisfaction.
- Affordable Packages – Not only do they have unique valuable features but also great prices. They help in your journey towards establishing your business by managing your paperwork filing process.
Differences Between MyCorporation and LegalNature
- Pricing
MyCorporation
MyCorporation has four-tier packages, which start from$99 for the Basic package.
Here is a brief description of the packages they offer.
Basic Package
MyCorporation’s Basic LLC Package costs $99, excluding the state fees. Services that this package offers includes :
- Name availability check
- Preparation and of Articles of Formation
- MyCorp Vault Document Storage.
Standard Package
MyCorporation’s Standard LLC formation package is $124 plus the state fee. With this package, you get:
- A Registered agent service (free for the first year and $120 after the lapse of one year
- Name availability check
- preparation and of Articles of Formation
- MyCorp Vault Document Storage
Deluxe Package
MyCorporation’s Deluxe LLC Package costs are $224 plus additional state fees. You will enjoy the following:
- Name availability check
- preparation and of Articles of Formation
- MyCorp Vault Document Storage
- US annual report service (free for the first year, you pay $99 after the one year).
Premium Package
MyCorporation’s Premium LLC Package is the final package which costs $324 plus state fees. The services you get include:
- Name availability check
- Preparation of Articles of Formation
- MyCorp Vault Document Storage
- US annual report service (free for the first year; you pay $99 after the one year)
- A free year of MaintainMyBiz ($250/year after the first year)
Note that the above prices include the required state fee payment, which varies in each of the fifty states and is paid through the state secretary.
LegalNature Pricing
LegalNature has a two-tier package that can be paid monthly or annually. They also have a one-time price offer of $34.95.
Monthly subscription at $38.95 per month
- You will be able to generate a version of any document
- Have free access to all document creation
- Free seven days trial, which you can cancel anytime
Annual subscription at $84 per year
- You will be able to create a version of any document
- Have free access to all document categories
- Only $7 if you pay annually
- Save 83% if you subscribe compared to $38.95 per month
Where you need a single business document, you will pay $ 34.95, which is a one-time figure unless you are creating several single documents.
2. Registered Agent Service
Both offer registered agent service at an extra price. MyCorporation charges $120/year while LegalNature charges $125, which is paid annually.
Most Common Terms in LLC Formation
- LLC Formation
A limited liability company is an entity where the liability and or company’s debts are not in the owners’ hands. They are a mixture of corporations characteristics and those of a partnership and sole proprietorship.
- Corporations
Both offer limited liability protection. For LLC formation, in most states, they have fewer formalities. Corporations have many formalities and forms, both independent legal and tax entities. LLC formations are separate legal entities and not tax entities. So, LLC tax must be submitted and paid on the owner’s tax income returns.
- Annual Reports
Annual reports are required to be ready by the end of every financial year. They contain information about the membership or management team, the information of directors. It can also be termed annual reports.
- Registered Agent
A registered agent is an entity or an individual whose LLC mandates to receive official documents on their behalf. As an entrepreneur, you can appoint yourself or your enterprise to be a registered agent if you have one permanent business premises and ten or fewer employees. Most online companies offer such a service either free for one year with an annual charge after that.
- Federal Tax Identification Number
The Federal Tax Identification Number (FEIN), commonly known as the Employer Identification Number or EIN, is a unique number given to a business entity by the federal government for tax purposes. It is like a Social Security Number of the LLC for reporting tax obligations. Banks also require the tax identification number to open an entity’s bank account.
- Certificate of Good Standing
The certificate helps you in verifying that you have been paying tax. It makes your business have a good standing. It also proves you are legally allowed to manage and run an enterprise. The certificate is applicable where you may want to sell your enterprise, renew your license, or seek the business’s funding.
- Operating Agreement
Some company members are elected to run and manage an LLC. They observe due diligence and keep all the internal and external controls in check.
Therefore, an LLC operating agreement will direct and define all the terms of internal operations, procedures, and the members’ relationship.
In conclusion, it is an internal governing tool.
- State fee
A new business is required to pay a separate fee to the state during the registration process. All 50 states have a different amount payable through the secretary of state.
- Articles of Incorporation
In establishing a corporation, you have to fill legal forms. You need to protect your assets. Articles of incorporation give you the right to legal protection.
Remember, the business assets and personal assets are separated once an LLC is registered.
- Banking Resolution
A banking resolution is a document that authorizes a company to open an account. The directors must sign to confirm the same. The mandate and operation of the same account are set. Failure to provide the resolution, the bank will not open the account.
How to Choose the Right Entity
Do you wonder which business entity in which to venture? Each entity is different from the other in how they operate and what must be fulfilled by law. As a business owner, you choose the structure which fits your needs.
Below are the four common entity types you can establish.
- Sole Proprietorship
Of the four options, a sole proprietorship is the simplest to start. When forming the enterprise, you devote yourself to operating the business by yourself. The tax process is minimal. Being the owner, you report the profit and loss on your records.
However, your assets are tied to the structure. Where you make any loss in the running of the business entity, then you are directly liable. If the business fails, you might lose your property.
Tax payment means that you use a substantial portion of the profits earned.
- Partnership
A partnership is more like a sole proprietorship. The difference is that you run the enterprise with the help of another party; a partner. If any loss is experienced, share the failures.
Withdrawal of one partner may have a significant impact on the structure. They may use the idea to start their venture, killing the initial venture.
- Corporation
A corporation is a legal entity that is separate from its owners. Being a common entity involves a lot of paperwork plus extra effort during the incorporation process. However, when incorporating, you separate yourself from the entity.
- Limited Liability Company (LLC)
LLC formations are famous since they give the owner a variety of choices. They combine the features of sole proprietorship and partnership. Tax obligations are different from those of a corporation.
FAQS
- How do I use my coupon?
For you to redeem a promotional offer or coupon, enter your coupon code on the review cart screen and hit the validate button. Any of your discounts will then be applied to the order.
2. Is there an annual auto-renew?
Yes. Annual auto-renew is available to give you uninterrupted services. MyIncGuard, Maintain MyBiz, Registered Agent Service, and Annual Reports are automatically renewed every year. When placing the order, you agree and give consent to the automatic renewal of selected services.
Otherwise, write to MyCorporation requesting cancellation of the billing before the lapse of thirty days.
3. Does either of these services providers have upsells or third parties?
Both of these service providers have many third-party partnerships. They have offers and upsell attempts. For LegalNature, they are relatively low compared to Mycorporation.
In comparison, MyCorporation has several third-party offers and upsells. We realized they have up to six attempts to share or sell your information when filling the order form.
4. What are the benefits of incorporation?
- Protect Your Assets
Forming a corporation or LLC formation enables a clear separation between you and your entity protects your assets by creating a separate legal entity.
- Creates Credibility and Trust
A formal entity creates trust from potential customers, vendors, and suppliers. They believe that your enterprise is legitimate.
- Potential Tax Savings
There are tax advantages that are not available to enterprises who choose to conduct business as sole proprietors.
- Experts Handle the Filings
There is a lot of paperwork involved during incorporation. If you misfile, then some consequences might result in fines or even the company’s dissolution.
Thus, allowing an expert to handle the paperwork will give you peace of mind. You will be able to focus on running your business better.
5. Which mode of payment do you use?
MyCorporation accepts Visa cards, MasterCard, Credit card, Discover, and AmericanExpress. LegalNature uses PayPal and major credit cards.
6. Am I Allowed to Use a Formation Service?
There is no legal requirement that dictates using a professional formation service to form a new enterprise entity. You will get step-by-step instructions to help you start your corporation. You would like to try the DIY option.
7. Can I get any refund?
LegalNature has a 30-day money guarantee. Here you are supposed to seek a refund within thirty days if dissatisfied with the services offered.
MyCorporation, on the other hand, tries to solve the dissatisfaction. In case you still are not satisfied, you are given sixty days to be refunded. You can only get state filing fees where you hold orders for more than three months.
Final Verdict
Both MyCorporation and LegalNature are some of the many online LLC formation service providers. They are easy to navigate and provide an easy-to-understand guideline.
LegalNature offers a wide range of solutions at an affordable price. It has a two-tier package starting with a $34.89 monthly subscription to $7per month if you pay the annual subscription of $84.
On the other hand, MyCorporation has served businesses for the last twenty years, making it more competitive regarding service delivery. The company pricing is a four-tier package ranging from the basic package priced at $99. You get to choose the package which best suits your enterprise.
In comparison, both companies have been receiving high positive ratings with excellent customer service.
Thus, if you want to make or amend your legal documents, I would choose LegalNature.