Monday, August 20, 2007

It'll Fit'll LLC and a Money Saving Tip for Entrepreneurs

The process of making It'll Fit'll an official legal entity is underway. The business will be formed as a Limited Liability Company, an LLC. So, its official name will be It'll Fit'll LLC. It makes me smile...twelve letters in the company name, and fully half of them - 6 - are the letter "L"! And, they're divided into 3 sets of double "L". What could a numerologist do with that?

The legal work for the business formation is being done by the Business Law Center at the Loyola University Chicago School of Law. A student is doing the work, guided/supervised by a practicing attorney. The fee is very, very reasonable - a bargain, really. The work is high quality. This is a great option for budding, cash-strapped entrepreneurs (which is nearly always a redundancy, isn't it?) So, if you have a straightforward business law need and are anywhere near a law school, it's worth a call to see if it has a business law clinic that you can engage.

I earned a Juris Doctor (J.D.) at the law school and it was the experience of a lifetime. The study of law, the school, the faculty, the fellow students - it was exhilarating and enriching. During my last semester there I worked in the family law clinic. That clinic is free to its clients. Students in the family law and business law clinics worked in the same big office. I often worked elbow-to-elbow with the business law clinicians. The caliber of people and work I observed among those business law students was equal to what I had observed in my 20 years' experience in Corporate America, working for Fortune 100 companies. Funny thing, while I watched their great work, while working on family law issues next to them, I would never have imagined that I'd be one of their entrepreneurial clients years hence. Life takes funny, unexpected turns sometimes, no matter how well you think you've got it mapped or planned.

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