Starting a new business is a big and exciting endeavor. It may seem, however, as if there is a never ending to do list before you. On top of this, you may be worried about covering start-up costs. Do not let this overwhelm you or push you to take shortcuts in the process. Investing time, money, and resources in setting up your business the right way can be well worth it for the strong protections and solid compliance it can offer. Because of this, you should consider hiring an attorney for all of your new business needs. You do not and should not have to do this all on your own.
Hiring an Attorney for your New Business is a Must
You may be reluctant to hire an attorney for your new business. Unfortunately, many people only way to hire an attorney once something has gone wrong. Hiring an attorney for your new business, however, can help set it up so that many of the pitfalls new businesses fall victim to can be avoided. With the knowledge and experience of a dedicated business law attorney, you can help ensure your business is set up the right way, in compliance with all relevant laws and regulations, and in a way that protects your best interests and that of the business.
For starters, an attorney can help you make one of the most important choices you will need to make for your business and that is what legal structure your business should take. There are a number of factors that should be considered before deciding whether your business should be a sole proprietorship, a partnership, a limited liability corporation, or something else. The selected business form will impact everything from what is required to set up your business, to how your business is taxed and what your personal liability exposure will be for any liabilities incurred by your business.
Your attorney will also help your business comply with any applicable regulations and ordinances at the local, state, and federal levels. Different businesses will often require different filings and a dedicated business attorney will not only help you with the initial filing requirements, but will also help complete any required annual filings. This can help ensure that you are not fined or shut down due to a failure to comply with the applicable regulations and ordinances.
An attorney can also help you draft the multiple contracts and legal agreements you are likely to need to establish and run your business while effectively protecting your interests and that of your business. Along the way, it is likely that you will be party to a number of agreements, including things like lease agreements, employment agreements, and more. These legal contracts are important not only for clearly outlining the expectations of your business relationships, but also for protecting your business and promoting its best interests. It is important that they are properly executed with your business’s needs in mind.
Texas Business Law Attorney
Are you starting a new business? Talk to the trusted business legal counsel at The Kumar Law Firm. Contact us today.