84% of small businesses manage contracts without an attorney’s help. Writing a business contract can be overwhelming, but you should take some key steps to ensure the agreement is sound
A Lawyer’s Guide to Starting a Business
Starting your own business is a complicated venture, but a rewarding one. If you have a product or service that you want to put on the market, you may want to consider hiring a business attorney. Otherwise, you may end up in unnecessary and risky situations.
Why should you hire a business attorney to help you as you start your own small business?
Before you start running your small business, you should hire a lawyer for assistance. In this guide to starting a business, we’ll walk you through what a start up lawyer can do for you.
Understand Legal Requirements
Legal jargon can be confusing for the average person. When it comes to starting a business, there is a lot of paperwork and legal measures that need to be taken. Having a lawyer on hand to help you understand your local and federal laws will come in handy as you start your business.
Not only will this ensure that your business has a strong legal department, but it will allow you the time to focus on other aspects of your business. There is a lot of work that goes into starting a small business; you need as much time as you can to set up.
Avoid Risky Situations
There is a certain amount of risk involved when you start a business. Hiring a business attorney can help you avoid unnecessary risks and keep your finances secure.
Structure Your Business Appropriately
Your business structure is incredibly important, and business lawyers are trained to help small business owners like you create a strong business structure. There are several types of ownership structures that you could form your business around, each with its own benefits and drawbacks. A business attorney can help you decide what format works best for your company.
The business structure you choose will depend on the number of owners involved, your business’s finances, as well as the type of business you have. Your lawyer can walk you through your options and explain any legal steps that you will need to take.
As a small business owner, you will need to create agreements between your employees, vendors, partners, and clients. These will ensure solid relationships with everyone you will work with. However, creating these sorts of agreements is complex.
A lawyer can help you form legal agreements to keep everyone you work with in the know about what they are owed and what they owe you. This will strengthen your business relationships and keep your company running strong.
Applying for Property Protections
It’s crucial to keep any intellectual property protected against your competitors. When you need to file for a trademark, patent, or copyright for your intellectual property, you should have a lawyer working with you. Having someone who knows their way around legal documentation will keep your property safe from the public eye.
Understand How to File Your Taxes
Paying taxes as a business entity is complicated when you’re starting out. Business lawyers are masters at filing taxes for companies and can help you figure out what you owe with ease. Rather than guessing and taking risks while doing your taxes, you can rest assured knowing that your taxes have been filed correctly the first time.
A start up lawyer can also determine what deductions you can file in your taxes. That way, you can lower your tax liability and with those deductions and reimbursements.
Finding the Best Startup Business Attorney
Now that you know the benefits of hiring an attorney to help you start up your small business, it’s time to start your search. Here are some tips to help you find the best business attorney in your local area.
Get Referrals from Lawyers You Have Previously Worked With
If you have worked with lawyers in the past, then you can use your previous lawyers to your advantage. Go to lawyers you trust and ask them about local business attornies; they may be able to offer you a referral for some of the best lawyers in your area.
Be sure to inform your past lawyer that you are searching for someone who is familiar with helping those who are starting up a business. Some business lawyers don’t have much experience with start-ups, so you’ll want to find a lawyer with a good amount of experience to help you!
The Internet is your friend when it comes to searching for an attorney! Many online directories can point you towards high-quality lawyers in your area. Some directories even offer consultation calls with business attornies for fast help with legal questions.
Let’s say that you are filing your taxes and are unsure if you can classify something as a deduction or not. Using an online directory, you can contact an attorney over the phone or through email to answer your question. That way, you can get back to filing your taxes quickly and easily!
Go to Business Conferences and Events
If you have more than a quick question that you need to be answered, you should go where lawyers often congregate. You can find plenty of different types of attornies at business conferences and events, any of which could potentially be your next business lawyer. Many great business lawyers are brought in to speak or present at these events.
Of course, you should avoid asking your legal questions at the event itself. Rather, you should ask for a consultation appointment with an attorney to walk you through your concerns.
Get Referrals from Other Business Owners
Other small businesses in your area have likely worked with business lawyers to help them start up their businesses. Don’t be afraid to reach out to these small business owners and ask about their experiences. If they had a good experience with their attorney, you should ask them for a referral.
You don’t have to stick to the small businesses in your area. Visit small business websites online to see what attornies those from your city or state have worked with as well. That way, you can broaden your horizon and have a better chance of finding a great lawyer.
Study Reviews of Potential Attornies
Before you settle on an attorney, make sure you take a look at their reviews. Any reputable attorney will provide client reviews on their website; that way, potential clients can see the experiences that other clients have had.
Pay close attention to the reviews from those with businesses similar to your own. Take note of how the lawyer worked with and helped their clients. This will give you a good idea of what to expect if you were to work with them.
Asking the Right Questions
Make sure to have a solid list of questions for your attorney before you sit down for your first consultation. Important questions include, but are not limited to:
- How much experience do you have handling start up businesses?
- Have you worked with people in my industry previously?
- How do your fees work, and how much do consultations cost?
- How will we communicate with each other?
- Do you have other members in your team?
- What will our timeline look like?
It’s important for you to ask about the experience level of your potential attorney right away so that you will know if they are the right fit for your needs. Understanding whether or not they have worked with people in similar situations to yours will give you a good idea of how they will work with you.
It’s also crucial that you know right away how and when you will be expected to pay your lawyer. Ask about any potential fees up front, including consultation fees. Some attornies will offer free consultations, so don’t forget to ask!
Of course, knowing how communication will work will benefit you early on. You should be aware of how often the two of you will communicate, as well as the method of communication you will use.
Your Ultimate Guide to Starting a Business
If you want to start a small business, then you’ll need to know your basics. Using this guide to starting a business, you can get your new company off the ground in no time! Before starting anything, consider hiring a business attorney for guidance; you never know what benefits they can provide you!
Are you searching for a business attorney to help you start your small business?
We’re here to help. Contact us with any questions or concerns you have about our start up lawyers and continue reading our blog for more helpful tips today!
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