Which Is Right For You?
If you’re looking to form a new company, but don’t have funds (yet) for an attorney to deal with the paperwork, there are definitely less expensive options. Popular online services are capable of handling the incorporation process for you, and filing all necessary documents in a safe, secure, and structured fashion.
In this Rocket Lawyer vs MyCorporation comparison, we’ll look at two heavy hitters in the industry and see if either is ideal for your needs. Through examining their commonalities, differences, package options, and pricing you’ll feel far more informed by the time you’re done gobbling up the info. Enjoy!
When examining document filing options, there’s going to be overlap between any two companies really. Most of what they do is pretty straightforward.
Rocket Lawyer and MyCorporation both take care of the entire incorporation process, leaving no loose ends for you to tie off. You just provide basic info about your business and they take it from there. Here’s a few more commonalities between the two.
1) Both work with companies of all shapes and sizes, from the solopreneur to corporations.
2) Both offer professional ongoing support beyond the initial setup process.
3) They offer a host of practical features with fair pricing.
4) Both provide money-back guarantees which make them essentially risk free. MyCorporation offers refunds within 60 days, and Rocket Lawyer’s got a Free Trial. A little assurance before buying is always a plus!
5) Both have extensive compliance tools to keep you updated on legal and tax obligations – no surprises, no missed deadlines.
Obviously, there’s some areas where Rocket Lawyer and MyCorporation are quite different in their approach and/or execution. Here’s the most important differences in our estimation:
One area where MyCorporation and Rocket Lawyer diverge substantially is in the area of customer reviews. As mentioned, Rocket Lawyer is accredited by the Better Business Bureau, with a flawless A+ rating while MyCorporation isn’t.
However, MyCorporation has fantastic customer reviews to compensate. They maintain a 9.0 score on Trustpilot, with a healthy 187 reviews — 152 of which are five-star testimonials like these:
“Really good service. They were great from my first phone call until I received the corporate papers. They even called me to help me answer any questions I have. They were fantastic. MyCorporation did a perfect job for me.” – Michael Julio
“Great overall experience. I am a second time customer. MyCorporation has a breadth of services to assist most startups in company formation. Most new companies will not need all of the elements offered, so you need to have a bit of knowledge to know what you need and what you do not need. In a phrase – great, trustworthy, fast.” – Limit Systems LLC
As for Rocket Lawyer, online reviewers aren’t quite as universally kind. The largest collection of Rocket Lawyer reviews online is on SiteJabber, where they hold an average score of 2.3 stars out of 5. The thing is, nearly all of the negative reviews talk about the same issue:
“I only need to create 1-2 documents per year. I signed up for the free trial period when I should have signed up for a per document fee. The options were not clearly stated. I unfortunately did not realize that Rocket Lawyer automatically changes your account to be charged monthly if you do not cancel. The site should have more options for people who only need 1-2 documents a year. I would not recommend Rocket Lawyer to anyone.” – Nancy P.
It seems the vast majority of Rocket Lawyer’s critical reviews are about the 7-day Free Trial being a “bait and switch,” as one reviewer very inaccurately labelled it. We’re not sure how these people feel they’re being fooled, as the Rocket Lawyer website is very clear that it’s subscription-based and not a magical wonderland where they provide valuable legal services for free.
At any rate, as long as you pay attention through their checkout process you’ll be fine.
Rocket Lawyer has a subscription-based approach when it comes to pricing: Member or Non-Member. Members pay a monthly service fee for their Accelerate service level.
For members, services like incorporation are included with your subscription. Non-members can order one-time incorporation service for $99.95, although it’s pretty clear Rocket Lawyer would rather just get you to sign up for a subscription.
What’s curious is, while many companies in this industry pride themselves with the fastest processing times imaginable, Rocket Lawyer’s non-member service clearly states it can take up to 12 ½ weeks. Why?
Well, first and foremost they’re giving themselves a general buffer because of how many different variables there can be (no two companies are quite the same). Then, because they offer substantially more in terms of legal assistance, things can move more as they would if you worked with a conventional law firm. Just a couple things to consider.
Also, keep in mind that the package doesn’t include registered agent service, or compliance documents. In short, if Rocket Lawyer’s sounding good just opt for the subscription. You can always cancel it once the incorporation process is complete.
Instead of the usual three package options, MyCorporation has four: Basic, Standard, Deluxe and Premium all shown below:
We mentioned earlier that MyCorporation’s packages are incredibly customizable, and we weren’t kidding. Take a look at all these services you can add and create what amounts to a customized package. It’s nice instead of being cornered into a bundle where you might not need to everything:
We like the customization, but it feels like services like an Employer Identification Number (EIN) and custom operating agreements could be included in the higher-priced tiers, instead of still adding $100 to your total. Overall though, there’s a ton of features, and most are offered at reasonable prices.
And if you’re in a hurry, MyCorporation’s Rush Filing option decreases your turnaround time by “up to 85%,” which is pretty fast!
If you’re deciding between Rocket Lawyer and MyCorporation, in many ways you’re choosing between an ongoing subscription service and a one-time charge for incorporation filing.
Rocket Lawyer has a host of other valuable features included in a subscription that helps legions of businesses. However, if you don’t think you want or need those features, perhaps MyCorporation’s document filing service is the better choice for you.
Both MyCorporation and Rocket Lawyer are excellent choices. We’re confident either company is capable of providing you with the service you need at a fair price. Thanks for reading, and good luck with your business ventures!
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