So you have a great business idea, and you’re ready to take the plunge into entrepreneurship. Congratulations! Starting a business is an exciting endeavor that comes with lots of challenges—but it can also be incredibly rewarding. One important step in starting a business is to consult with a corporate lawyer who can help you navigate the legal challenges of starting and running a business. Here are four reasons why you need a corporate lawyer on your team when starting a business.
When you’re first starting out, it can be hard to know which legal structure is right for your business. Should you form an LLC? Should you incorporate? And what’s the difference between the two, anyway? A corporate lawyer can help you understand the pros and cons of each legal structure and make recommendations based on your specific business goals.
There are all sorts of laws and regulations that businesses need to comply with—from tax laws to employment laws to environmental regulations. A corporate lawyer can help you make sure that your business is in compliance with all relevant laws and regulations, both at the state and federal level. This will help protect your business from potential liability down the road.
Contracts are an essential part of doing business—whether you’re signing a lease for office space, hiring employees, or partnering with other businesses. A corporate lawyer can help you negotiate contracts so that they’re favorable to your business interests while also protecting you from potential liabilities.
No matter how well-run your business is, there’s always a potential for disputes—with customers, employees, vendors, or other businesses. If a dispute does arise, having a corporate lawyer on your team will help ensure that it’s resolved quickly and efficiently without jeopardizing your business interests.
Starting a business is an exciting but challenging endeavor—and one that requires careful planning and execution in order to be successful. Consulting with a corporate lawyer early on is one important step in ensuring that your new business gets off on the right foot legally speaking. So if you’re thinking about starting a business, make sure to add “find a corporate lawyer” to your to-do list!
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