If you are in the process of starting up your own small business, one person you want to have on your team is a business attorney. A business attorney can help you with numerous aspects of starting up a small business.
#1 Setting Up the Legal Structure of Your Business
One of the first areas that a business attorney can help you with is setting up the structure of your small business. When you start a business, you want to make sure that you set up the right legal structure. You can set your business up as an LLC, sole proprietorship, partnership, corporation, or even a nonprofit.
How you decide to set up your business will impact the fees associated with starting your business, your tax obligations, ways of securing funding for your business, as well as the liability impact of your business. It is important to be smart with how you set up your business, and a business attorney can help you choose the right legal setup for your business.
#2 Help You Secure an Employer Identification Number
For legal documents, you are going to need an employer identification number. An employer identification number, or EIN, is basically like a social security number for your business. You will use it on your taxes and applications for finances. You are going to want to get an EIN as soon as you start your business.
#3 Review Leasing Contracts
If you are planning on leasing a location for your business, you will quickly discover that commercial and business property leases are different than residential leases. The terms and conditions are often more layered. If you are trying to secure a commercial lease, you are going to want to have an attorney look over the lease before you sign it. You want to go with a lease that will be beneficial to both yourself and the owner of the location whom you are leasing from.
#4 Secure Permits
When you open your business, you are going to quickly find that you need a variety of permits to operate. First, you are going to need to get a business license from your city or township that your business is located in. Second, depending on the type of business, you may need to obtain various licenses through the state. Obtain and securing permits and licenses can be complicated, and a business attorney can help you navigate the permit and license process and ensure that you get your license on the first try.
#5 Review Patents & Trademarks
If your business is making a unique product, a business attorney can help you start the patent process to ensure that your unique product is protected from people trying to knock it off. If your business has a unique name or tagline, a business attorney can also help you secure a trademark so that you can ensure that a future competitor doesn't try to poach and use your name or saying.
If you are starting a small business, it makes sense to enlist the assistance of a business attorney. A business attorney can help you get your business starting and can be a great resource for reviewing contracts and employment issues once you get your business going.
For more information, contact a company like Lingbeck Law Office.