Should we call our company a company, or an incorporation, or an LTD?


1

We're a software company, including like 35 employees, working in a very specific field. We have 3 stakeholders, and each of them have like 30 percent of the overall shares.

We just can't differentiate between inc., and co., and ltd. and stuff like that.

Reading the internet won't help that much. For example, in this link, it's obvious that incorporation is for large companies, and we're not large yet. But we do intend to become large.

This is important to us, because right now we're working on our branding.

Can you guide us on this process please?

Incorporation Company Branding Limited

asked Sep 7 '13 at 18:14
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Saeed Neamati
153 points
  • What country are you asking about? The terms have different meanings in different places. And what's your current status? 35 employees its quite a lot, are you not a legal entity of any kind? – Littleadv 7 years ago
  • We live in Iran. What do you mean by **current status**? We are a company creating software products. We are legal. We have certificates from the central government. – Saeed Neamati 7 years ago
  • So you're already incorporated then. Or what else can you mean by "we are a company"? – Littleadv 7 years ago

2 Answers


3

You must go see a competent business lawyer in Iran. There aren't any highly experienced entrepreneurs from Iran on this site -- yet. :)

To help you a bit, and bring a bit more clarity to you:

  • Iranian law sets out which types of corporation and partnerships are available to you.
  • You then have to choose the most suitable company type. And then register your company with the government.
  • The purpose of the suffix is to let other people know which type of company they do business with.
  • The law and local customs will then guide which suffix you put after the name. For example, if you were in Norway and had chosen a corporation, then your company name would have "AS" after it. In Germany the same general type of corporate structure has the suffix "AG". I don't know which suffixes are used in Iran, sorry.

You must go see a competent business lawyer in Iran.

Usually an accountant isn't that necessary for this, because good business lawyers will know have some knowledge about the general tax situation. But if you feel the uncertain about your lawyers knowledge of tax law, then be sure to also see a good chartered accountant specialized in tax law.

answered Sep 8 '13 at 19:42
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Jesper Mortensen
15,292 points

1

You need to speak to an accountant who can guide you with this. You don't normally choose inc / co / llc, as it depends on what type of corporate structure you setup. And what structure you need is beyond the scope of this answer. It will depend on your business goals, jurisdictions you operate in, shareholders etc.

In the UK when I start a limited company it has a "Ltd" ending... If it was a limited Liability partnership, it would have "LLP" ending. In Dubai it could be Limited Liability Corporation (LLC), India Could be a Private Limited Company (Pvt Ltd). So, you see, it depends on your business entity and where that is registered.

answered Sep 8 '13 at 14:46
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Sunil
1,072 points
  • Not only accountant, lawyer. The different kinds of entities have different legal structure and liability protection for owners. They're also often taxed differently (that's where the accountant would be handy). – Littleadv 7 years ago

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Incorporation Company Branding Limited