where to check legitimacy of US based company?

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  • mineistaken
    See signature :)
    • Apr 2007
    • 29656

    #1

    where to check legitimacy of US based company?

    Do you have some database where you enter the company and see how many employees they currently have, do they have any debt and any other info that could help decide if company is solid or not?
    Thanks
  • Relentless
    www.EngineFood.com
    • Aug 2006
    • 5697

    #2
    D&B is what most people use, but it is nowhere near as accurate as people think it is.

    http://www.dnb.com


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    • mineistaken
      See signature :)
      • Apr 2007
      • 29656

      #3
      All I see is "state OK". Unless I pay 160 dollars ))
      I guess I am used to the good things like public and free daily updated info (number of employees, debt to the tax man etc) about companies here in Europe

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      • Wizzo
        2011 GFY Hall of Fame!
        • Nov 2000
        • 15224

        #4
        Only if they are publically traded is that info easily available.
        Looking for Opportunity!

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        • SplatterMaster
          Confirmed User
          • Jan 2012
          • 790

          #5
          What type of business?

          You can try http://www.manta.com/ or bbb.org

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          • mineistaken
            See signature :)
            • Apr 2007
            • 29656

            #6
            Originally posted by Wizzo
            Only if they are publically traded is that info easily available.
            Any other ideas how to check if company is legit? At least something. As an example if you see number of employees you can be sure that it is not some 1 person shell company etc. Not necessary this, but anything would help

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            • fitzmulti
              I Like Depth Of Field!
              • Jan 2003
              • 14861

              #7
              Originally posted by mineistaken
              Any other ideas how to check if company is legit? At least something. As an example if you see number of employees you can be sure that it is not some 1 person shell company etc. Not necessary this, but anything would help
              There's not always anything wrong with a "one person" company.
              { raises hand }.
              There are a lot of smaller companies that wouldn't necessarily be in a database like you are looking for.
              And...MANY larger companies that might be in such a database that would be total scam places, or bad to do business with.


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              • mineistaken
                See signature :)
                • Apr 2007
                • 29656

                #8
                Originally posted by fitzmulti
                There's not always anything wrong with a "one person" company.
                { raises hand }.
                There are a lot of smaller companies that wouldn't necessarily be in a database like you are looking for.
                And...MANY larger companies that might be in such a database that would be total scam places, or bad to do business with.
                Of course there is nothing wrong with one employee companies. I am not stupid or anything you know... I meant that when a company presents itself as bigger company with employees it is nice to confirm. Anyway this is just one example of many indicators that forms bigger picture... Lets not concentrate on this particular one.
                Still looking for some tips and tricks on how to vet a company at least by a little bit.
                Last edited by mineistaken; 07-24-2014, 02:58 PM.

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                • xXXtesy10
                  Fakecoin Investor
                  • Jul 2012
                  • 7127

                  #9
                  Originally posted by mineistaken
                  All I see is "state OK". Unless I pay 160 dollars ))
                  I guess I am used to the good things like public and free daily updated info (number of employees, debt to the tax man etc) about companies here in Europe
                  Kinda funny given all the privacy laws there
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                  • Barry-xlovecam
                    It's 42
                    • Jun 2010
                    • 18083

                    #10
                    I used to pay $25 (25 years ago) to a collection agency for a commercial credit report from a credit reporting bureau.

                    But that was on large construction contracts -- kept me aware of any shady buyers or general contractors I would sub-contract from.

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                    • First Person
                      Registered User
                      • Nov 2013
                      • 62

                      #11
                      If you know what state the company is in, you can check the corporation commission db search to see if the company actually exists and is in good standing, etc. For example here's the CA search: businessfilings.sos.ca.gov

                      Each state has something similar.

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                      • mineistaken
                        See signature :)
                        • Apr 2007
                        • 29656

                        #12
                        Originally posted by First Person
                        If you know what state the company is in, you can check the corporation commission db search to see if the company actually exists and is in good standing, etc. For example here's the CA search: businessfilings.sos.ca.gov

                        Each state has something similar.
                        Will do
                        Although I think that can be checked via the link posted by relentless. Status OK is what I got there

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                        • fitzmulti
                          I Like Depth Of Field!
                          • Jan 2003
                          • 14861

                          #13
                          Originally posted by mineistaken
                          Of course there is nothing wrong with one employee companies. I am not stupid or anything you know... I meant that when a company presents itself as bigger company with employees it is nice to confirm. Anyway this is just one example of many indicators that forms bigger picture... Lets not concentrate on this particular one.
                          Still looking for some tips and tricks on how to vet a company at least by a little bit.
                          I did NOT mean to offend, and I certainly did not imply that you were stupid.
                          On that note, in many instances, the Better Business Bureau could also be a good place to look.
                          http://www.bbb.org/ {However people can lodge complaints just to express displeasure with a business, so take BBB reports w/ a grain of salt.}
                          Last edited by fitzmulti; 07-24-2014, 03:38 PM.


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                          • ravo
                            Confirmed User
                            • Jun 2001
                            • 5461

                            #14
                            With a private, closely held corporation (as most are), it would be almost impossible to get any info about the company, other than perhaps its incorporation docs. Private corps are just that - they don't need to disclose anything publically.

                            So, like others said, if you do find any info, take it with a huge grain of salt, as it's likely to be an estimate or educated guess.
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                            • Relentless
                              www.EngineFood.com
                              • Aug 2006
                              • 5697

                              #15
                              If they file with D&B they have to provide all that data. The problem is not all companies do, sometimes the info isn't as current as it should be, and it costs a few hundred bucks to pull their D&B report. It's the best you can do... Unless they are publicly traded... Which is part of why so many companies avoid going public.


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