Many people believe they know how to start a business. They think that you simply get some clients or customers, produce a product, sell it, and cash the checks.
Unfortunately, many start-up business owners will make grave mistakes by following this simple pattern. There are many more considerations than this when you choose to go into business for yourself, and business attorneys can help you understand the steps you should take to protect yourself and your new company.
One of the first questions you should ask yourself is if you need to incorporate. Not every business does; however, for many companies, incorporation makes sense. When you decide how to start a business, it is wise to investigate the incorporation question right away. You may decide not to incorporate at first and later change your mind, but you should always make that decision from a sound legal basis. Corporations provide many benefits for new businesses, including tax breaks and protection from liability. There are several types of corporate structures available, and a business lawyer can help you decide which one is right for your company.
Another question you should ask yourself is how to deal with employees. Business lawyers can give you good advice on writing your employee manual, complying with all state and federal regulations, and ensuring that you are withholding the proper amounts from your employee’s wages. If you hire other people, you will be almost certain to run into issues at some point, so having a business attorney’s advice can help you avoid costly situations that may be damaging to your company.
Finally, you should also consider your liability for accidents and contract disputes. If you make or sell anything, there are legal repercussions that can affect your business. Your products must be safe and your drivers or delivery people must be careful. There are many ways you can have problems with liability, but a business attorney can help you minimize your risk.
Business attorneys are part of the life and operation of a successful business. Talk to a business lawyer today and begin the process of protecting the most important thing you own: your company.