If you are the only owner in the company, things are easy – you own the whole thing. Deciding which to form is a choice you should make with your attorney and tax advisor’s help. For limited liability (which is super important), your two main options are corporations and LLCs. There are a few different types of business entities, each with its own pros and cons.
Decide what kind of business entity to form Figure this out as part of your business plan.įirst – get all of my FREE video game law eBooks by signing up below! FORM YOUR COMPANY 4. There are a number of ways to fund your company, from bootstrapping it yourself to getting investors (whether for equity or through crowdfunding). Fund your companyīusinesses need money to develop and sell a product. At the very least, get an attorney and a tax advisor to make sure you’re staying compliant and protecting your new business. Any good business has a team of specialized advisors to help them. Most entrepreneurs don’t know all of the ins and outs of starting and running a business. The games business is a difficult one – planning for both success and failure is crucial part of it, and needs to be addressed before you begin. It contains you plan for funding the company, researching your market, developing your product, promoting the game to consumers, staying afloat, and finding success. Draft a business planĪ solid business plan is the basis of any new business. With that in mind, here’s my ultimate checklist for everything you need for your own game development studio: YOUR GAME COMPANY GAME PLAN 1. I can’t underestimate the importance of adhering to a good legal structure for your company. Have a plan, protect your personal assets and your company’s IP, and follow the laws. Whether you want to form a big work-for-hire studio or a bootstrapped indie game company, the basic principles are the same.
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