Incorporation/Organization Day
Entrepreneurs who have been operating their businesses, as well as those with brand-new ideas and ventures, are welcome to work with licensed attorneys to establish their legal Illinois entities. Attorneys will advise on entity choice and help founders prepare organization or incorporation filings for the Illinois Secretary of State.
The Polsky Exchange is hosting this event for attorneys to assist entrepreneurs in establishing entities to mitigate personal risk and financial consequences. Entrepreneurs attending will receive pro bono legal services from independent attorneys.
Please note that attorneys cannot pay filing fees on behalf of clients; business owners will receive free legal consultation and help preparing the incorporation or organization paperwork and will have to pay the filing fees for their entity (usually $150 for a single LLC or corporation). Be sure to bring a government ID, a bank card or credit card to pay the filing fee(s) if you want to file on the same day, and all of the individuals, in person, who have ownership in the entity.
You can prepare for this event by attending a live workshop on Choosing an Entity on February 17. This workshop explores the process of incorporation for startups which covers how to choose what type of entity you will form, how to choose the jurisdiction where you will form the entity, and what other factors to consider when forming a new entity. You can watch the Incorporation Basics workshop by Emily Underwood, Associate Clinical Professor of Law and Bluhm-Helfand Director of the Innovation Clinic.
If you are involved in bankruptcy proceedings, you must confer with your bankruptcy counsel to determine if income through a new entity that you own may affect your bankruptcy. You may still meet with an attorney during Incorporation/Organization Day to talk through choice of entity and formation details, but attorneys will not assist with actual filing (for your protection).
If you are currently involved in a lawsuit, attorneys will not be able to meet with you at this event. We have several major firms participating in this event and need to avoid potential conflicts.