- Tax Tips: 5 Rules for Deducting Business Meals Entrepreneur
- YEC Member Spotlight: Brendon Schenecker, Founder of Travel Vegas Young Entrepreneur Council
What should I begin with for granting my business a legal status?
My brothers and I have spent the last few months of our lives working on an indie video game with a fairly professional quality standard, and we are willing to sell it commercially.
So far, we have created most of the content, but we do not have a legal status yet, and I absolutely (literally) have no idea on what we are supposed to do for it.
The goal is -obviously- to have a government-recognized business to copyright our content with and for doing any legally-based actions (of which I have no idea yet...)
So, does that translate to "registering" the business? If so, then how and where? We are currently residing in Saudi Arabia, but our nationality is Jordanian, and we are willing to sell our video game world-wide beginning with English audiences.
If physical headquarters have to do with it in any way, they do not exist yet; we're simply still a home-based family business.
What information else do you need for telling me what to do?
If you don't have an accurate answer, feel free to share any hints that could be of use!
Thanks in advance.
** UPDATE **
Thanks a lot for the info, Peter. But things have just gotten clearer in my head, the thing I should've asked about is why would we need our company to have a legal status in the first place, especially in a country like Saudi Arabia?
Law enforcement is terrible over here, copyright law is hardly existent compared to the US and doing anything you want off the record without going into legal complications is far easier.
Therefore, I'm thinking that, for a clearer idea, we should know the SWOT of our choices on the short and long terms.
Could being unofficial limit or hinder our work in our business field? What long term threats and opportunities does either choice have? These are very important factors!
Filling any blank in the table is appreciated, even if it's just a hint. Thanks again.
I would form a company. This will be a seperate legal entity for the business. You will be able to do this over the net. Most countries have on line company registrations. You will need to comply with the laws of the country you reside in.
There are plenty of accountants, who can give you advice on how to set up a business.
Applying for patents and copy writes is very expensive. i would suggest you apply for a licence, for your products.
A registered office could be an accountants office.
Im sure you would be able to complete all of these tasks in Saudi Arabia.