It’s fantastic to see companies like Dwolla enjoying success and creating considerable buzz. I’ve long thought that Iowa just needs one of its start ups to blow up and it could kick start a whole generation of entrepreneurs. It happened in Seattle with Microsoft and in Austin with Dell. Why not here?
I like Ben’s post but I suggest that you Zoom Past LegalZoom. In particular, the Iowa LLC laws have changed in the past year and I would trust only an Iowa business attorney if you are drafting operating agreements for multiple partners. It could have a big impact on keeping you out of court down the line.