MyCorporation vs LegalZoom: Which Is Better for Your Business 2023?
Reviewed by Jazmin Castello - MBA
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($133+ State Fees)
($178+ State Fees)
About MyCorporation
MyCorporation boasts a good experience since it was established in 1995. With over a million businesses served [1], it has become a very popular LLC formation and incorporation service.
Just like the top services in the industry, MyCorporation enables you to choose a business entity that fits your business. You can form a limited liability company (LLC or PLLC) or a corporation (S-corp, C-corp, B-corp, or Professional corporation).
One of the company’s outstanding features is the annual report service. They will prepare, manage and file your annual report for a year free and still include a reminder tool so that you’ll never miss an important document or deadline.
This review will cover a number of topics that should help you make a decision as to whether you want to use their LLC formation and/or incorporation services or not.
About LegalZoom
LegalZoom is a company that helps people with legal stuff. They were founded in 2001 by Robert Shapiro and Brian Lee. They started by offering will kits online, and then they expanded their services to include business formation and intellectual property protection. In 2010, they launched their network of independent attorneys.
Currently, LegalZoom is a leading online legal service for small companies in the world. They’ve helped over two million customers with their legal needs, and they’re consistently ranked as one of the best online legal services by independent organizations.
LegalZoom’s services are intended to be simple to use and inexpensive. They give a money-back guarantee on all of their services, so you know you’re getting a decent value. LegalZoom is a network of independent attorneys that may give individualized legal advice to consumers in addition to their online services.
LegalZoom is a fantastic alternative to look into if you need legal assistance. Their services are simple to use, and the satisfaction guarantee provides reassurance.
| Mycorporation | LegalZoom | |
| Basic Formation | $133 | $178 |
| Registered Agent (standalone) | $258 | $299/yr |
| Full Formation | $358 | $477 |
| Detail | Read Review | Read Review |
| Link |
MyCorporation vs LegalZoom – Brand comparison details
Best Overall Pricing and Value: LegalZoom
MyCorporation
MyCorporation offers several packages for LLC formation, but they can be overpriced for what they offer. The Basic package costs $99 plus state filing fees and only includes the articles of incorporation and name availability search. It doesn’t include a registered agent service, which is essential for many businesses. The Standard package costs $124 plus state fees and only adds a one-year subscription to the annual report service, which is required by the state.
To get a registered agent service, you’ll need to subscribe to the Deluxe package, which costs $224. This package is the best option if you want to use MyCorporation as your LLC formation service. The Premium package costs $324 plus state fees and only adds a one-year MaintainMyBiz subscription, which allows you to order up to four more document filing services from MyCorporation at no extra cost within one year of your business formation.
Overall, MyCorporation’s packages may not be the best value for businesses looking to form an LLC.
LegalZoom
LegalZoom’s LLC formation packages start at $79 and provide a range of services for entrepreneurs. These include a business name availability check, preparation and filing of articles of organization, a bank resolution, and a stand-alone operating agreement.
LegalZoom also offers two higher-tier packages: Standard and Express Gold. The Standard package, priced at $329, includes extras like a membership certificate seal, Deluxe organizer, attorney consultation, and various legal documents. The Express Gold package, priced at $349 plus state fees, offers expedited filing and express shipping in addition to the features provided in the basic and Standard packages.
These packages cater to different needs, providing entrepreneurs with the necessary tools and services for LLC formation.
Best Track Record & Experience: LegalZoom
MyCorporation
MyCorporation has served over a million businesses since it was founded back in 1995. Even more, the company boasts impressive online customer reviews on various websites. Most of the reviewers backed it with either 4 or 5 stars ratings with an average rating of 4.3 on TrustPilot [2].
LegalZoom
At least 4 million people have relied on LegalZoom services in one way or the other. Out of this number, around 2 million have used it to form their businesses while over half a million have benefited from their legal services.
However, the company’s online customer reviews are a mixed bag. We realized there are as many 1-star ratings among the users as there are 5 stars ratings on sitejabber.com [3].
Best Common Features: MyCorporation
MyCorporation
MyCorporation offers similar services to what any other business formation service would offer. You will get all the common features that are required to form an LLC or corporation including a year of registered agent services without changes.
LegalZoom
LegalZoom is a large company that is known for additional features beyond incorporation or LLC services. With that said, LegalZoom has more extensive services and attorney advice. When it comes to common features for LLC and incorporation services MyCorp has an edge.
Best Customer Support: LegalZoom
MyCorporation
MyCorporation offers both email and phone support. The support team is very responsive via email, unlike many services. Their phone support is also reliable from Monday through Friday 7:30 am to 4:30 pm PT.
The best part, the company CEO Deborah Sweeney provides her Twitter handle on their website for a first-hand response.
LegalZoom
What makes LegalZoom customer support amazing is the extra availability time. You can reach out to them via phone, Monday through Friday, from 5:00 am to 7 pm PT, and Weekend from 7:00 am to 4:00 pm PT. This is very important if you have issues that need to be addressed as they come.
With that said, MyCorp may guarantee first-hand information from their CEO but LegalZoom’s extended hours are very important if you want your issues handled as they come.
Best Ease of Use: MyCorporation
MyCorporation
MyCorporation website is very straightforward and it is very easy to place orders. In just about ten minutes, you shall have made the application from the first page of the order form to the last screen.
On the package select screen, you can select the add-on options before you enter your application. However, we have to let you know that you will meet a series of upsells.
LegalZoom
While the LegalZoom website is more modern and not confusing to use, the site was designed to lure you to spend more. To begin with, you will not follow the same process as the rest of the services when placing orders.
Instead of displaying the package options, you will have to enter your information first. That means you will begin the ordering process without knowing the kind of price to expect; which is a trick on their part.
Once you enter your info, they will take you through a series of annoying upsells that may not only consume more time but may trick you into spending more than you planned.
Best Registered Agent Services: MyCorporation
MyCorporation
MyCorporation offers their registered agent service from their Deluxe package. Given how a registered agent is an important feature for business formation, we expected that service to be offered in their lowest package.
However, once you manage to subscribe to their Deluxe plan, you will enjoy the service for a year without charges. Even more, their annual renewal fee for this service is great.
LegalZoom
LegalZoom registered agent services are overpriced as their annual renewal charges are to the industry’s expensive end. Even worse, they don’t offer free registered agent services to new subscribers like most of its competitors.
Best Speed of Formation: LegalZoom
MyCorporation
MyCorporation turnaround time is not very clear. However, based on our experience, expect your documents to be processed within a few days to 6 weeks. Worse still, while the company claims to be having expedited filing, there are no specifics.
LegalZoom
LegalZoom turnaround time doesn’t depend on state processing but rather the package you choose. You will have to wait for 30 business days with the lower package for your formation documents to be processed. However, their top LLC or incorporation packages have expedited filing. The Standard package will reduce the waiting time by half while the Express Gold will keep you waiting for only 7-10 business days.
Best Customer Feedback: LegalZoom
MyCorporation
MyCorporation has a mixed bag of customer feedback. Some customers have praised the company’s customer service, while others have complained about the high prices and the lack of features in the basic plan. Overall, MyCorporation seems to be a good option for businesses that are looking for a simple and affordable way to form an LLC.
LegalZoom
LegalZoom has a much better reputation than MyCorporation. The company has been in business for over 20 years and has helped over 2 million businesses get started. LegalZoom offers a wide range of services, including LLC formation, incorporation, trademark registration, and business loans. The company also has a good reputation for customer service
Is There a Better Alternative?
Instead of spending on expensive LegalZoom and MyCorporation incorporation and LLC formation packages, ZenBusiness offers business formation services at a much lower cost yet include registered agent service for 1 year free, free operating agreement, and several other free add-ons that you will not get in the formation packages of any other service.
Which Should You Choose?
Choosing between these two companies is never a difficult task because these two services are not that close matched in ranking. But if you still find it a hard task, we can help you do the choosing.
Choose MyCorporation if:
You are looking for a provider that will offer annual report services at a lower cost. Besides, you may consider it over LegalZoom if you value service with great customer reviews.
Choose LegalZoom if:
You place a high value on working with a large and more experienced company. In addition, you can choose LegalZoom if you are sure your business will meet legal issues along the way.
Conclusion – Who Wins?
Hopefully, our LegalZoom vs MyCorporation review has made it easier for you to have your pick. In essence, MyCorporation offers ordinary services that you can find in most companies out there. The only feature that sets it apart from most services is its free annual report. But overall, given their overpriced packages, MyCorp is an average LLC or corporation service in the middle of our ranking scale.
LegalZoom offers a long list of additional features beyond just LLC formation and incorporation services, including legal documents and intellectual property services. With that said, we declare it the winner in this LegalZoom vs MyCorporation comparison.
Frequently Asked Questions (FAQs)
MyCorporation’s inclusion of a free annual report service is their biggest advantage. On the other hand, LegalZoom’s greatest advantage is an array of additional features such as legal services.
Both LegalZoom and MyCorporation have reasonable refund policies with each promising to refund your money if you cancel your subscription within 60 days. However, MyCorp will charge a $25 processing fee if you purchased any physical product
Both companies have clear charges for every service they offer and don’t have hidden fees. You can cancel LegalZoom upsells if you are not interested in any, and they should not be confused about hidden fees.
LegalZoom goes way overboard with attempted upsells that may make you spend much more than you plan. While MyCorp has upsells too, they are not as pushy as those of LegalZoom.
At the time of this review, we found that MyCorp will acquire your EIN without charges if you use the promo code FREE IN during the application. However, we can’t guarantee this promo will still be available. On the other hand, we didn’t find any sales, coupons, promo codes, or discounts for LegalZoom’s service.
For an LLC formation or incorporation service, there are cheaper yet well-packed services than these two. However, I would recommend Legalzoom to a friend or a relative whose business will deal with legal issues along the way.
MyCorporation and LegalZoom have great customer support with MyCorporation offering the CEO Twitter handle on their website. LegalZoom on the other hand offers extra availability time.
ABOUT THE REVIEWER
+ 3 sources
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- MyCorporation. (2021). About Us. [online] Available at: https://www.mycorporation.com/aboutus.jsp [Accessed 8 May 2021].
- Trustpilot. (2021). MyCorporation. [online] Available at: https://www.trustpilot.com/review/mycorporation.com [Accessed 8 May 2021].
- Sitejabber.com. (2020). Legalzoom.com Reviews – 3.6 Stars. [online] Available at: https://www.sitejabber.com/reviews/legalzoom.com [Accessed 8 May 2021].