My husband, Kelly, invented a remote control for portable music players, such as iPod and Sony MD so he could control his own sound during his magic performances. We have sold it by word of mouth in the magic industry, continued R&D, and made improvements for the last 12 years. We are now wanting to get it out on the market and take the business to the next level.
We have just recently incorporated and are gearing up to apply for a business loan, but do not want to use our personal credit any more. I am not willing to pay D&B 500 bucks to add my already established vendors to my credit listing. I see other online Business credit coaching services, etc, but is that really necessary? How is business credit reported, and to whom? And how can I do this myself in a relatively short amount of time?
vsmcorp12/1/2007 1:24 PM
We have recently changed from a sole proprietership to a corporation, and we are getting ready to open the books. Our Company has been in busines for over 10 years, so we have a substantial amount of property that we will be transferring to the Corporation. Does anyone know of a standard method or formula of determining the value of property that has been accumulated- which factors in the value of the property to the corporation-considering things like the cost of personal unreimbursed labor, part sourcing, research and development, etc?
vsmcorp12/1/2007 1:28 PM