If you are starting a small business, it is important to know that there are many legal issues that can arise. To protect your company and yourself as an individual from potential lawsuits or other legal problems, it is advised to speak with a lawyer before you start doing anything. In this blog post we will discuss the benefits of getting legal advice when starting a small business so you can make an informed decision about what route is best for your small business.
Avoid Business Traps
First, legal advice can help you avoid business traps that could cause your company to be sued. The lawyer will provide valuable insight into the legal challenges small businesses face and ensure that everything is done within compliance with federal, state, or local laws. Some examples include issues with employees, contracts, leases, zoning rules, and trademarks.
Legal Contracts
Second, it’s important to know that with a business attorney you can get help when it comes to legal contracts. When starting a small business, there are many legal documents your company needs in order to run smoothly and ensure the highest amount of success. These include operating agreements for LLCs, hiring documents such as an employment agreement or offer letter, supplier or vendor forms like a purchase order or contract, and financial forms such as invoices. These documents can be very complicated and getting them reviewed by a lawyer will help ensure they are done correctly the first time around so you don’t have to worry about it later down the road.
Legal Structure
Third, your business needs a proper legal structure in order to gain access to any funding you will need in order to grow and prosper. Without proper legal structure, it is impossible for your company to get funding from banks or any other entity that requires this documentation.
Leases
Fourth, if you plan on opening a physical location such as a storefront or office space, you might need help with the leasing process. Leasing companies usually use certain types of legal documents to ensure that they are protected in case something happens with the property or your business.
Tax Returns
Finally, if you’re looking for assistance in filing any tax returns specific to your small business, a lawyer can help do this for you before the deadline in order to avoid penalties and other risks associated with late filings.
The benefits of getting legal advice when starting a small business are clear. Legal contracts, leases, and tax returns can be very complicated to navigate on your own. If you’re looking for assistance in any of these areas as well as many others such as employment agreements or offer letters–a business attorney is the perfect resource to help get your company off the ground with all its necessary paperwork done correctly from day one. With so much at stake, it only makes sense that you would want an attorney by your side who specializes in advising startups and entrepreneurs just like yourself.
Emma is a freelance writer based out of Boston, MA. She writes most often on health and education. When not writing, she enjoys reading and watching film noir. Say hi on Twitter @EmmaSturgis2
