September 13, 2017
Starting a business can be an exciting and overwhelming endeavor and Google seems reasonably equipped to answer all your questions – right? Maybe, but as you embark on your new venture, Google may not adequately solve your concerns in a way that protects you. Consider the following reasons to work with a knowledgeable business lawyer, rather than your favorite search engine:
- First things first – the right structure is key. One of the most basic tasks in forming a new business is to choose an entity structure. This decision is critical as different entities expose you to much different levels of liability. Choosing the wrong entity could leave your business (and you individually) exposed to intolerable levels of liability against lawsuits. Conversely you may inadvertently overly complicate your structure when you are in an industry with very little need to worry about liability.
- Business attorneys should work hand in hand with your accountant. Structure and other set up decisions are best made both between your attorney and your accountant. Do not be surprised with an improper structure for both you or your industry once tax season arrives. Set it up correctly from the start.
- Protect your ideas and property. Protect your product ideas, production secrets, customer information, potential competition from your employees and anything else unique to your business. Doing so allows you to maintain a competitive advantage and shield yourself from others both externally and internally who could use your unique information for their own profit.
- Employment lawsuits can stop a business in its tracks. Starting a business means you must comply with all federal and state employment laws, including legal procedures regarding employee pay, hours, overtime, sexual harassment, and discrimination. Failing to consult with a business attorney exposes your business to a variety of employment lawsuits and even one lawsuit can be the death of a small business. Do not take simple tasks like drafting job descriptions or interviewing procedures for granted. Consult with a business attorney and do it right.
- Running a Business Can be a full-time job. Creating a new business involves a lot of paperwork and legal formalities confusing to even the savviest entrepreneurs. Drafting bylaws or operating agreements, complying with tax requirements and licensing concerns are most effectively handled with the assistance of a business lawyer.
Handing off the set up and operational structure issues to the right business lawyer allows you to get back into the business of running your business. Bergmann Law can walk you through the process of starting a business and set you on a path ensuring smooth operations and dispute avoidance. With years of dedicated legal experience, your business will be in excellent hands. Call our office and schedule an initial consultation.