Do I Need a Lawyer to Start a Business?

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Whether you have a dream of opening your own catering business, offer hairdressing services, website design, dry cleaning services or courier services, or if you have come up with a unique business idea such as the right software to solve an important issue or make consumers’ lives easier, you will need to start with the right business plan.

What should a business plan include?

It is important to start out by doing serious research into other businesses similar to yours. This will familiarize you with the possible advantages and pitfalls of your own idea. Once you feel comfortable with your idea, draw up a description of what you intend to do and write out the executive summary of your business.

Once that is clear, do some research into the industry in which your business will be inserted, precisely define the product or service you will be offering and delineate your sales strategy.

Finish by figuring out how much money will be required for the project to take off and do financial projections for the first week, month and year.

What type of business are you looking to start?

There are several business structures from the simplest to the most complex. If you are thinking of running your business as a sole proprietorship, you probably do not have to register it in your state, and no specific paperwork is required.

If you are aiming to establish a partnership or an LLC, registering it with your state is a must. A partnership or operating agreement must be prepared and signed. Finally, if your idea is to create a corporation or an S corporation, besides registering it with your state, you must prepare bylaws and many other complicated documents.

Clearly, the more complex the business structure, the more likely you are to require an attorney to help you with the necessary paperwork, forms, and requirements.

How can an attorney help you start your business?

There are many reasons why you might need an attorney to get started. You might be feeling confused as to the number of forms and paperwork that needs to be completed. That is where the help of a reliable business lawyer will make this life that much easier and allow you to focus on other aspects of your new enterprise. Additionally, a business attorney will help you:

  • Trademark your name
  • Patent your product or idea
  • Review any lease documents
  • Discuss potential legal structures
  • Take care of all requirements for incorporation, should your business need it
  • Resolve issues with business property
  • Comply with interstate and regional legal issues
  • Address business disputes
  • Comply with business regulations

If there are lawsuits or any issues that need to be addressed in court or problems with hiring and firing of employees, a business attorney is always a good ally to have by your side.

Start your business the right way with a lawyer by your side

If you are starting a small business and will be a sole proprietor, you may be fine without a lawyer for some time. Eventually, your business may grow or you may find yourself involved in a legal dispute. It may be a good idea to start a relationship with a lawyer now to be ready for the future. Click here for more information.