LLC’s or Limited Liability Companies are an essential first step in starting your production. LLC’s are legal entities that hold the liability of a production to a single container, rather than risking personal assets of the investors and filmmakers.
While it may seem overwhelming and complicated, forming an LLC is actually an extremely easy and straightforward process. You can do it many different ways, from getting a lawyer to draw up the paperwork for you, going to your local Secretary of State website and registering it, or you could go through something like LegalZoom and do it all online.
Regardless of how you form your LLC, taking your career and film business seriously is an important mindset to get into. You need to eliminate the lofty dream of being a wealthy, successful, prize-winning filmmaker from the beginning and set up a foundation to build a future upon.
Professionalism is the key to success in any business and, make no mistake, film making is a business. Yes, some people can pursue film making as an art form and just do it for the sake of doing it but lets be honest, if you want to do this long-term you need to have cash flow. That is where the business side of things come into play.
I’ve had the pleasure of working on a lot of films, behind the scenes, helping people secure their productions, get their paperwork in order and not have to worry about all of the details that go into the legalities of film making. While I always suggest the filmmaker take an active role in every aspect of his/her business, I do know that it is a long and tedious process to ensure everything and everyone is signed and accounted for.
One of our most popular services on Film Fervor is our Production Prep Package in which we set everything up for your production, ensure all of your talent is signed, all of your work for hire contracts are in order and that you have the appropriate permissions to shoot on the locations you need. We also provide a detailed plan on how to market your production, from concept to distribution, but it all starts with the forming of your LLC.
This post is provided as an “information” post and not legal advice. Consult your lawyer before making any decisions. Film Fervor and its associates are not authorized or permitted to give legal advice and take no responsibility for your actions.