Which Is Right For You?
If you’re looking to form a new company, but don’t want to pay for an attorney to deal with the paperwork, there are definitely less expensive options. Popular online services like MyCorporation are capable of handling the incorporation process for you, and filing all necessary documents in a safe and secure 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, I hope you’ll feel far more informed by the time you’re done reading.
When examining document filing options, there’s going to be overlap between any two companies. Most of what they do is pretty straightforward. Rocket Lawyer and MyCorporation both take care of the full LLC formation 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 these providers.
Obviously, there’s some areas where Rocket Lawyer and MyCorporation are quite different in their approach and execution. Here are the most important differences in my estimation:
Rocket Lawyer has a subscription-based approach when it comes to pricing: Member or Non-Member. Members pay a monthly service fee for either the Premium or Accelerate service level shown in the screenshot below:
For members, services like LLC formation 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.
Keep in mind that their formation 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.
The Standard and Deluxe packages are both strong bargains, primarily because of the inclusion of your first year’s annual reports. MyCorporation has a great annual report service, so this really is a valuable feature. Beyond that, the main difference between these packages is the year of registered agent service in the Deluxe bundle.
We mentioned earlier that MyCorporation’s packages are quite customizable, and we weren’t kidding. It can be nice to have these a la carte options instead of being cornered into a bundle where you might not need everything. Take a look at all these services you can add, and create what amounts to a customized package.
We like the customization, but it feels like services like an Employer Identification Number (EIN) and personalized 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.
One area where MyCorporation and Rocket Lawyer are quite similar is customer reviews. MyCorporation has excellent customer feedback, with hundreds of reviews and strong average scores. Their clients frequently praise MyCorporation’s helpful customer support system, and they also seem impressed by their quick turnaround times.
As for Rocket Lawyer, online reviewers have a similarly positive outlook. They have around a thousand reviews scattered across the web, and their average scores are even higher on some sites than MyCorporation’s ratings. Their satisfied customers praise Rocket Lawyer’s ease of use, and often comment on how responsive their customer service is.
In general, customer feedback is a big pro for both of these companies, and they’re relatively equal in this department.
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 LLC formation. Rocket Lawyer has a host of other valuable features included in a subscription that helps lots 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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