Updated: June 6, 2022
Consulting with a lawyer when you are in the process of starting your business can save the issues that may occur later on that can come about because you did not ask the right questions beforehand. For you to succeed when you are starting a business you need the help of outside professionals. You want to avoid starting a business and then several months or years down the line you have to deal with issues that you could have taken care of as you were starting the business. When starting a business it is necessary to consult with an experienced attorney.
If you have recently started a small business then you know how daunting of a task it can be to a business owner. You are tasked with day-to-day activities and you have to plan for the future. At this rate, you are already aware of the legal issues that business owner is likely to face.
However, even if you have the experience it is possible to overlook certain issues either due to a lack of sufficient information or because the business is taking up a lot of your time to keep it running. Most individuals do not want to hire an attorney due to the thought of the attorney fee that they have to pay. However, if you carefully evaluate the situation the small attorney fee that you have to pay is worthwhile in the long run.
Hiring a business lawyer can help you to avoid legal problems that can arise as a result of the various types of business contracts, state relations, and other issues that come with starting a business. If you do not have an idea of what to discuss with a lawyer below are questions to ask a lawyer when forming a business.
What Type of Business Entity Should I Set Up?
Before you start your business you want to make a decision on how the business will be structured.
There are various types of entities to choose from, they include;
- General partnerships
- Sole proprietorships
- Limited partnership
- Limited liability company
- Limited liability partnership
Every entity type has its pros and cons but at the end of the day, you will need to decide on the right business for you.
The type of business structure that you chose will depend on a variety of factors. Some of the factors that should consider are as listed below;
- Do you plan to hire employees in your business?
- What is your desired tax treatment for your business entity?
- Do you plan to operate the business by yourself or do you plan to have one or more business partners?
- Consider the personal liability protection you want.
This is a small list of what you should consider. However, depending on the needs and desires that your business has there may be a long list of other factors that you will want to consider before making a decision on the right business entity.
You can give us a call so we can the business entity suitable for your business needs. Our legal team is always ready to answer any questions that you may have concerning the new business venture you want to start.
How to Minimize Risk as an Employer
When starting your business you should know that state and federal laws will apply to the business you are starting. If you do not have information on the legal requirements and the steps that you need to take so you can comply with these laws you are risking getting penalties, fines, as well as employment-related business litigation.
Some of the federal laws that you should be aware of are health and safety regulation laws, wage and hours laws, employment laws, and anti-discrimination laws. It is necessary for you to have procedures, policies, and handbooks, as well as go through training that will help you to ensure that you do not violate the set laws and regulations
It is as well crucial for you to comply with state laws that relate to things such as minimum wage. Keep in mind also that if you do not hire individuals that are not U.S. citizens or who do not have consent to work in the U.S. you may end up having to deal with immigration issues.
How to Protect Your Intellectual Property
Small businesses have potential trademarks which they use in order to be able to distinguish their business from others. Trademarks can be identified as the name of your business, labels, logo, packaging, and slogans. However, for you to claim them you need to take the necessary steps toward protecting them. You can make the decision to register your trademark with the U.S patent and trademark office.
Also, in the case where you invent something you may have to apply for a patent. With the help of a business attorney, you will be able to identify your intellectual property and they will offer you advice on how to protect it. Also, they can help you with the registration for copyright or trademark. When it comes to patents you will need to hire a patent lawyer.
What Contracts Will Your Business Need?
For you to be able to set up a new business there are certain documents that you should have prepared.
Most of the time it will be necessary for you to file a document known as a certificate of formation with the secretary of state. You do this so that you can formally bring your business entity into existence. Other documents that you can consider when you are preparing the bylaws for a corporation or an operating agreement if the business entity is an LLC.
Even if some documents may not be required it is highly recommendable for you to have the documents in place because of your business. Having this document in place will enable you to clearly outline the policies and procedures of the business.
These types of formation documents can intimidate a business owner. Even so, they are a vital tool in ensuring the success of your business. For this reason, it is important for you to make sure that you work with an experienced Arizona business lawyer that will help you to understand and draft the documents that you require.
How Should You Outline Owner/Partnership Responsibilities?
In the case where a business has multiple partners or owners, it is important to have a clear well-written contract or agreement about what is expected from each party and an outline of their responsibilities when it comes to the buying of equipment and property.
Do not rely on oral agreements. When you are getting started it is best to have signed agreements in place so all the parties that are involved have an understanding of what is expected of them and what they are entitled to in any particular situation. When you do this you will be able to avoid any contentious disagreement that can come up down the road and end up in a legal battle
How Can an Attorney Help Protect Your Business?
Even if the lawyer that you are hiring has been able to resolve the issues that you currently have at hand you would want to know what more your business formation attorney can do for you.
It is important that you hire an attorney that will be able to answer most of the questions that you will have from time to time and also one that will take care of issues that will pop up as you continue to run your business.
Get a lawyer that can potentially work with you for a long time. A good business lawyer can work out a payment arrangement with you. Some lawyers will allow you to have a yearly payment plan with you and you on the other hand can get in touch with them whenever you need them.
You can seek assistance from your business lawyer on issues pertaining to personnel issues, risk management issues, employee issues, and concerns that you are likely to have with your board members.
When you choose a good Glendale business attorney they will be able to help you out with the above legal matters and as well many other business-related issues.
It is important to have an experienced business lawyer that you can get in touch with for legal advice when you have issues or when you need a question answered.