Help in Staring your own Production Company to Film...

[drameddie]

I wasn't sure where to post this thread, hope this section works.

I'm looking to open a production company in NYC and I'm looking for some advice and how much it would cost and do you really need an entertainment lawyer. Looking to open up an LLC.

Purpose: Wanting to shoot my own short film with some SAG actors that are willing to work for free (will need SAG waiver) and plan to submit it to festivals. I would acquire location permits and insurance. Is it better to have a production company and then get insurance? When getting permits, they need insurance.

I understand people tend to open up their main production company, but then under that they will open a production company for each project they shoot. Basically every project will be under the umbrella of the main production company? I understand it will have it's own bank account.

Future: plan to shoot more shorts films in the future after shooting the first one, possibly a feature down the road.

I got this book on the Legal Guide to Independent filmmaking but the section on opening a production company didn't have much info.

Anyone that have done this and/or have step by step info on what I would need to do with some details? I'm sure there is more than just registering a company name. I found this video that helped a little bit but there wasn't enough information:

https://www.youtube.com/watch?v=zjQpvHpUI5Y

Any help and info appreciated and hopefully this thread will help others looking for the same info.

Thanks for reading.

 

[paulears]

Do you actually need all the hassle and legal implications a proper company needs? If you are not going to be generating real money, and not paying people, then it could be more appropriate to do it as a kind of cooperative joint effort - a club or association style group. These can be set up and have bank accounts and status, and if money ever does roll in, be converted to a real production company. Very often insurance and other legal requirements are cheaper for these organisations. With a formal constitution, you can appoint officers who can deal with money, contracts and unions etc.

If the aim is to make a short, this more flexible arraneament might be better. Not sure if its the same in the US, but these organisations can own property and tax wise, it's often an advantage - because members give their services for free, but the organisation can hire in the kit like a real production company.