Entrepreneurs are do-it-yourselfers by nature. The very same thing that drives them to leave the corporate world and set off to forge their own path and create their own future makes them want to handle all the details themselves. But when it comes to the nuts and bolts of structuring your business and other aspects of setting yourself up for success, there are some areas where having the help of a small business lawyer will make all the difference in the world. These include deciding on a business structure, checking to make sure that the name you want to operate under is available, forming your business entity, and taking care of essential steps including licensing, permits, and crafting employee contracts.
Choosing the right ownership structure from among sole proprietor, LLC, partnership, and the various types of corporations may seem like a straightforward decision, but there are many different advantages and disadvantages inherent in each. A small business attorney will make sure that you’re aware of the ramifications of each option. Factors to be considered go beyond the type of business you’re running, and include the number of owners that are involved, where your financing is coming from, what protection from liability you will need, and the potential tax implications of each structure.
A small business lawyer can also help you do the research necessary to ensure that the name you want to do business under is legally available. They will have access to the state’s business name database, as well as the know-how to check the U.S. Patent and Trademark Office to see whether you are infringing on somebody else’s registered trademark.
Finally, once you’ve made all of your decisions and the legwork has been done, a small business lawyer can help with the actual creation of your business entity. From filing forms and organizational documents to paying fees and creating bylaws or operating agreements, they will guide you through all of the steps necessary to start you off on the right foot and prevent issues from arising in the future.
Navigating the intricacies of starting a new business is made far simpler with the help of an experienced and knowledgeable small business lawyer. To learn how we can help you as you move forward, contact our office to set up a time for a consultation.