Feb 252016
beware of the legal terms in cloud computing services

As Irish immigrants, the founders of San Francisco payments company Stripe, John and Patrick Collison, know too well the difficulties of setting up a US based corporation.

So the company establishing Stripe Atlas, a service to help foreign entrepreneurs set up their US presence makes sense and the payments services bundled into the package may also generate business for the brothers.

The Stripe Atlas service also illustrates the challenges facing professional services businesses as the service automates many of the bread and butter tasks that were good earners for lawyers and accountants.

Until recently it was thought those ‘higher level’ occupations would escape disruption, now it appears software will eat the professions as well.

  2 Responses to “Disrupting professional services”

  1. The real question that you missed is….if you are an “online only” company then why incorporate in Delaware?

    Why isn’t Stripe allowing you to incorporate in Lithuania, Vietnam, Hong Kong, Singapore?

    With digital transactions why locate in the USA at all?

    Delaware makes sense if you are going to be raising funding……but otherwise…..what advantages do I get?

    What should really be asked is are we seeing “disruption of countries and incorporation domiciles” as we know it.

    Great to see Stripe branching out of the “transaction” space though. Could easily deliver Stripe higher profits (not revenue) than their original business.

    Could be a whole new model for them eg value add for “other services”.

    Dean Collins

    • Totally good points Dean. I think what Stripe is doing is a lesson for other jurisdictions; having streamlined business creations, finance and – possibly most importantly – immigration rules is a competitive advantage.

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