Why Start Ups Should Hire A Business Lawyer
Running a business comes with lots of different problems and pitfalls (especially at the start), which is why it is highly beneficial to have a fully qualified and experienced business lawyer working for you on retainer so that they can provide their expertise whenever an issue may arise. By having one in place it will provide you with that peace of mind that is needed in order to let you get on and grow your business.
Some of the specific things that a business lawyer can help a start up business with include the following things:
No matter what a business contract is for, it should always be either written, or at very least, reviewed by a business lawyer in order to ensure that it is legally sound and that all of the required items are captured. If you are ever in doubt that a specific transaction with a customer or supplier requires a contract, then a business lawyer can help to shed light on the legal requirements of the situation.
Having a specialist business attorney on hand will help in minimizing your exposure to potential lawsuits, such as ones from competitors or even from your own employees. They will be able to get your business into a good standing order with all of the relevant federal and local employment laws. By taking a proactive approach to these sorts of things, it stops lawsuits from ever happening in the very first place, thus saving you issues further down the road when you need to be concentrating on your expanding business.
Protecting intellectual property
Any trade secrets, original works, business services, logos, inventions, and product designs that your start up has can all be considered as intellectual property. Keeping these things fully protected is highly important for the purpose of maintaining your competitive and distinctive business. A business lawyer will be able to help you with doing this by filing for a trademark, a copyright, or a patent – depending on the type of intellectual property.
Deciding the structure
What is absolutely crucial for any start up to do is establish a business structure that is right from the very start. If this is not so, it can potentially prove troublesome further down the line, with unnecessary legal problems cropping up. For instance, the level of liability that you are exposed to as a sole proprietor or a partnership is far greater than that of a corporation or an LLC. A business lawyer has the skills and expertise to be able to your start up to identify what tax obligations you are subject to. They can also help with liabilities, employee related inquiries, setup costs etc. so that you can easily decide how best to structure your business.
Where a start up is run outside of the owners own personal property, a business lawyer can help with all of the legal aspects (agreements, terms, contracts etc.) of either renting or purchasing a commercial workspace to operate out of.