Why You Need Legal Advice When Setting Up a Business?

For anyone who has dreamed of setting up a business, they often think only of the profits they hope to make and the freedom of being their own boss. However, there are also a number of details that must be taken care of to have a successful business. Because of this, it’s crucial to seek legal advice before, during, and after the business is set up, which will greatly increase your chances of success.

Determining Your Business Structure

Depending on the type and size of business you start, you’ll need to decide on your business structure. If you’re starting a small business with only yourself, a sole proprietorship may be best. However, if you’re in business with a partner or others, forming a legal partnership or a corporation may be best. Whatever structure is chosen, an attorney can guide you to the proper state agency with which you will need to file the appropriate paperwork.

Understanding Business Taxes

No matter what type of business you start, you’ll have a number of tax obligations. Between federal, state, and local taxes, your business will have plenty of laws to keep up with. However, by working with an attorney who specializes in business and tax law, you will be able to navigate this complex process. And along with this, your attorney can advise you as to how the business structure you choose will impact the types of taxes you will need to pay, which can vary substantially.

Obtaining Licenses and Permits

With various types of business licenses, zoning permits, and much more to obtain, this is one area of business where you will need much legal advice. This can be of particular importance if any questions arise while obtaining the licenses and permits, especially if a zoning issue or concerns from nearby residents or other businesses slow down the process. But by using a skilled business law attorney, chances are you will be able to resolve any problems and be able to complete the licensing process.

State and Federal Employer Requirements

Perhaps the most complex part of starting a business, knowing and understanding the various state and federal employer requirements for hiring, safety, and labor can be a real challenge. Whether it’s overtime laws, compliance with OSHA regulations, employment discrimination laws, or other aspects of these laws, relying on the guidance of an experienced business law attorney can give you a better understanding of these important laws and regulations. It’s important to remember that if your business is found to be in violation of any of these laws or regulations, you could be facing fines or potential lawsuits. Therefore, the knowledge of an attorney can keep your business in full compliance with all government employer requirements.

Since starting a business of any kind requires a tremendous amount of time and in many cases money, retaining the services of a knowledgeable and experienced business law attorney can be viewed as not only a necessity, but also a smart investment in your future business success.

What Business Owners Can Expect From Their Lawyer

What Business Owners Can Expect From Their Lawyer

In today’s business world, business owners have many issues to deal with each day. As a result, the last thing they need to deal with is a legal issue that could not only damage their reputation but also cost them thousands of dollars or potentially their livelihood. From customer complaints about products or services to employees alleging sexual harassment or other issues, business owners need to be prepared to deal with anything that comes their way. To ensure this is the case, here are some key points as to what business owners can expect from their lawyer.

Don’t Let a Problem Fester

As a business owner, seek legal advice at the first hint of a potential problem. Rather than hope, the issue goes away on its own, speak with an attorney to plan out a legal strategy from the beginning.

Always Have a Lawyer at the Ready

Instead of scrambling to find a lawyer when issues arise, make sure you have a lawyer or even multiple lawyers ready to help when needed. Depending on the size and scope of your business, you may need lawyers skilled in such topics as employment law, tax law, and intellectual property law.

Know What to Expect

If a dispute arises, know what to expect. To do so, hire an attorney you not only can trust and respect but is experienced and knowledgeable as well. By asking fellow business owners or even family and friends, you should be able to find the perfect lawyer for your business.

You Get What You Pay For

Unfortunately, the least expensive lawyer isn’t necessarily the best lawyer. By keeping this in mind and being willing to pay for knowledge and experience, you’ll get much better advice and results.

An Ounce of Prevention

To keep legal issues from occurring, try to prevent problems from the beginning. Make sure contracts are properly worded, ensure trademark applications are properly filed, and always respond to legal correspondence promptly.

Know the Meaning of Going to Court

When most people think of going to court, they assume that means a trial is imminent. However, almost 90 percent of cases settle before trial. Therefore, have an attorney who is experienced in mediating and settling cases before trial, since this can save you thousands or millions of dollars.

Understand Litigation

While agreeing to a settlement may sometimes feel like an admission of guilt on your part, it’s actually much smarter and far less risky than going to trial. As any good lawyer knows, once a case goes to trial the outcome could go either way. By reaching a settlement, you are able to maintain a level of control over the outcome.

Make Your Lawyer’s Job Easy

By being a good client, you make your lawyer’s job easy. This can involve providing all documents your lawyer needs, accepting your case will have weaknesses, and taking your lawyer’s recommendations seriously.

By following these tips, you and your lawyer should be able to weather any storm that comes your way.