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What comes first: building a concept product or legally founding a company?

We're a web 2.0 company with a service that is reasonably close to launch. What should come first: complete my concept, start getting feedback etc or spend some time properly (ie legally!) founding the company?
 
Asked by Arthur Meadows, May 2009   -  Contact this person
Edited on 2009-05-18 13:19:42

3 Answers

  1. Hi Alex,

    I'd consider a couple of things: 1) legal status of the business - are you going to set up a limited company, limited liability partnership or simply a partnership? 2) without customers, you don't have a business, so I'd concentrate my efforts on the product, then, if you can demonstrate 'need', set up the company / business.

    Lee
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    Answered by Lee Longstaff, May 2009   -  Contact this person
  2. 1) It would be a limited company
    2) Great point - thanks!
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    Answered by Arthur Meadows, May 2009   -  Contact this person
  3. Go for making sure you have a commercial offering first, every time. Besides, setting up a limited company itself only takes minutes, so don't sweat on it.
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    Answered by Chris Chapman, May 2009   -  Contact this person

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