how to get a lawyer to start a new business

Is an attorney essential when starting my business?

Oct 15, 2019 · How to Find and Pick a Business Attorney in 5 Steps Determine why you need a business attorney. Source attorneys through your network or legal directories. Compare attorneys by asking the right questions. Work out a fee arrangement that fits your budget. Know when it’s okay to skip the small business lawyer.

How to find a startup lawyer?

The specific scenarios when start-up small businesses often choose to consult a lawyer include: Choosing a business entity: A lawyer can help you decide between a sole proprietorship, partnership, LLC or corporation based on the nature and size of your business and the tax and legal pros and cons of each. Picking a business name: An attorney can perform the research …

Should I hire a lawyer when selling a business?

The most likely times for start-ups to get lawyers involved include: Incorporation and forming a business entity Hiring employees Negotiating contracts with customers and suppliers, including establishing terms of service for websites and license agreements for software Raising capital Obtaining patents (for some companies) 3.

What does a business lawyer do?

Nov 27, 2018 · Contact a qualified business attorney to help you navigate the process of starting a business. Your location (city, ZIP code or county) Begin typing to search, use arrow keys to navigate, use enter to select

How to find a business attorney?

How to Find and Pick a Business Attorney in 5 Steps 1 Determine why you need a business attorney. 2 Source attorneys through your network or legal directories. 3 Compare attorneys by asking the right questions. 4 Work out a fee arrangement that fits your budget. 5 Know when it’s okay to skip the small business lawyer.

What can an attorney do for a business?

An attorney can help you negotiate favorable contracts and ensure you understand all the fine print. Handling employment issues: As a business’s workforce grows larger, business attorneys often step in to help with labor law compliance and to resolve wrongful termination lawsuits.

What can a small business lawyer do?

A small business lawyer can help you draft both partnership agreements and corporate bylaws.

How long is a consultation for a business lawyer?

The next step after sourcing a handful of business attorneys is to meet with all of them. Most lawyers offer free half-hour or one-hour consultations to meet with potential clients. A consultation is a good way to see if a small business lawyer is a good fit without committing.

Can a business attorney work with you on a contingent fee?

A contingent fee is when the attorney receives payment only if they win the case on your behalf. There are multiple ethical reasons, however, why an attorney might avoid a contingent fee arrangement. For instance, an attorney who is fired midway through a case by their client might find it difficult to recoup compensation if a contingent fee arrangement is in place.

What is Priyanka's job?

Priyanka specializes in small business finance, credit, law, and insurance, helping businesses owners navigate complicated concepts and decisions . Since earning her law degree from the University of Washington, Priyanka has spent half a decade writing on small business financial and legal concerns.

Can a business attorney take equity?

Business attorneys sometimes will take a portion of equity in your business in exchange for providing legal help. This happens very rarely because small businesses have high failure rates, so there’s no guarantee that the attorney will receive payment. However, this might be something you’re able to work out with a small business lawyer if you have a fast-growing startup.

Why do small businesses need a lawyer?

Small businesses rely on lawyers to provide legal expertise in some areas, which they might not be well-versed. These include the knowledge to:

When do new small businesses typically use a lawyer?

The specific scenarios when start-up small businesses often choose to consult a lawyer include:

Do I need a lawyer to start a small business?

Retaining the services of a lawyer is not required as a condition of starting a business. In fact, many of the steps of starting a business cited above can be performed without a lawyer. This means the decision to hire a lawyer or go the DIY route depends on your business entity.

Do I need a lawyer to start an LLC or corporation?

LLCs can benefit from a lawyer as these entities often require filing articles of organization (or a certificate of formation) with the state, the appointment of a registered agent and adherence to other regulatory requirements. Therefore, consider creating an operating agreement.

Lawyers simplify and organize a complicated paperwork process

First things first, you’ll probably need to register your LLC, corporation, partnership, or nonprofit with your state (and any other states in which you plan to operate ). Every business is required to attend to federal, state, and local paperwork, as well as third parties and the public.

They can protect your brand from infringement and claims

Failure to protect a trademark or copyright can leave a business vulnerable to unnecessary troubles on the path to an otherwise successful start-up.

Within the company, lawyers can help build a strong team

Before business is truly on its way, a group of founders must establish each member’s role, salaries, levels of control or ownership, personal liability, and capital contributions. A lawyer’s oversight of these conversations can protect each member and the entity as a whole, ensuring that contracts are valid and legally binding.

Lawyers can protect your customers or patients

One of the first steps in launching a business is creating a web presence. At least sixteen states require website privacy policies as a means to protect private information from customers or patients.

Lawyers can simplify the customer and supplier interactions

Negotiations with suppliers and partners require proactiveness and strong terms between your business and others—even website or software providers—ensures mutual success. With a lawyer’s help, you can ensure that each contract or buy-sell agreement is comprehensive and binding.

From Making to Manufacturing

Should consumer product startups manufacture in-house or partner with a copacker?

How much does a lawyer charge per hour?

The lawyers most start-ups will deal with are likely in the $350-$800 an hour range, but this varies from firm to firm, obviously. Most big firms bill in increments of six minutes (i.e., 0.1 of an hour), but some charge in 0.25 hour increments. The range for hourly rates is huge. A junior lawyer at a small firm in a smaller city may charge $150 an hour, while senior partners in big firms in major cities have been known to charge over $1,000 an hour.

Where is Rebecca Thorman?

Her blog Kontrary offers career, business, and life advice that works. She writes from Washington, D.C.

Is LegalZoom good for incorporation?

LegalZoom can be good if you know exactly what you need, but it can’t advise you on what is appropriate for your specific situation.

Is it important to hire a lawyer?

Hiring and working with a lawyer is often confusing and daunting, especially if you’ve never done it before. But when you’re starting a business, it’s crucial. With the right expertise on your side, you can feel confident you’ve got your legal ducks in a row as you’re getting down to business.

What is the most important thing to consider when starting a new business?

The only thing more crucial to a new business is liability . 1. Liability. Different business forms provide different protections and risks to the business owner/investor. Personal liability means that your business puts everything you own at risk. An attorney can help you avoid this situation or minimize your risk.

What are the most important things to do in business?

10. Contracts. Most businesses execute contracts for space, services, and supplies. Businesses often have agreements between partners, investors, and employees. It is important to get it right so you don't end up in court. 9. Registering, Licensing, and Permits.

What is the choice of business form?

The choice of business form (i.e. sole proprietorship, partnership, LLC, or corporation) often dictates the legal responsibilities and potential liability of those involved in leading the business, as well as the manner in which it may operate.

Can I do business in another state?

The preconditions to forming and conducting a business entity in one state may not be accepted in another state. If you are not careful, the protections you have in your home state of operations may be lost if you do business in another state. See the State Business Laws section for more details. 6. Strict Conformity.

Do I need a lawyer for my startup?

In most cases, you're going to need the services of a lawyer for your startup, perhaps for tax services or employment law compliance. Whatever the reason, make sure you contact the right attorney for your needs.

Can I start a business by myself?

Some people opt to start the business by themselves or with family members, while others have partners or other investors who will not be involved with the day-to-day affairs of the business. The laws that apply to start-up businesses differ based on the specifics of the situation, and even business people who decide to go it alone have options ...

Why do I need an attorney?

The most common reasons for needing an attorney are: 1 Navigating the many forms and requirements of legal documents, like incorporation documents, that are involved. 2 Assurance the startup is being done right. 3 Enabling you to focus on other aspects of the business so you don't have to spend time learning the legal processes. 4 Support with specific tasks like trademarking your name, reviewing lease documents, discussing potential legal structures, and preparing incorporation forms. 5 Online legal form providers don't always do it right. Businesses aren't one-size-fits-all, so blanket legal documents don't always work.

Can I register my business online?

You might be able to register online with your state or use an online service to register your business, but it might be a good idea to use an attorney if your business is at all complicated. Corporations or S corporations must register with the state as well.

Do I need an attorney to start a business?

The simpler your business, the less you'll need an attorney. A sole proprietorship is the simplest business form. It doesn' t require that you register your business with your state, so no, you probably don't need an attorney ...

What does a business lawyer do?

A business lawyer can explain how to start a business and answer your business law questions. But more importantly, a lawyer can identify the risks you face and help you minimize them. When you meet with your lawyer for the first time, it’s a good idea to have some questions in mind.

What to do before starting a small business?

Before starting a small business, you must decide how your business will be structured. If you do not form a formal business entity, your business will either be a sole proprietorship (with one owner) or a general partnership (with more than one owner). Legally, you and your business will be the same “person,” so if your business has debts ...

Why is it important to meet with a small business attorney?

Meeting with a small business attorney is an important way to get your business off to a good start and minimize future risks. Here are questions to ask at your first meeting. New entrepreneurs have their hands full, making plans, developing products and services, and lining up financing.

How does a contract protect a business?

Contracts protect your business by describing the rights and responsibilities of the parties to the agreement. A well-written contract can reduce the number of disputes that arise, ensure that you get paid for the work you do, and provide a clear remedy if one party doesn’t hold up its end of the deal.

How to start a business off on the right foot?

Always ask your business attorney to assess your risks and identify ways to alleviate them. Getting business advice and legal help from a small business lawyer is a smart way to start a business off on the right foot. But don’t lose touch with your lawyer once your business is up and running. Make it a habit to seek business legal advice regularly ...

Do I need a patent lawyer?

And if you have an invention, you may need to apply for a patent. A business lawyer can help identify your intellectual property, advise you on protecting it, and assist with copyright or trademark registration. For patents, you will need a patent lawyer. 6.

What is a limited partnership?

Other options include a limited partnership, in which some partners are fully liable for business obligations, and others are not, and a nonprofit corporation.

How do I start my own law firm?

Every lawyer starting their own law firm needs to have a marketing plan—it’s a non-negotiable task that is essential to attracting clients. Keep an eye on how much business you’re generating from your marketing spend, and in which areas of your practice. Understand the return on investment (ROI) of your marketing efforts, and don’t keep chasing a losing bet.

What is Google Ads for lawyers?

You tell Google the maximum amount you’re willing to spend per day and per click on certain keywords (“divorce lawyer”), and it runs the ads for you.

What is target market?

Target market is a marketing-specific term that refers to the type of clients you want to attract. If you find that specific types of clients and matters are high-effort, low-reward then you might want to steer clear of promoting your services to that audience.

How much of your revenue should be marketing?

A good rule of thumb is to set aside 10 percent of your revenue goal for marketing and try to find room in your overall business budget. This 10 percent should include costs for your website, any hiring you plan on doing, advertising costs, and so on.

Should I have a referral section for my law firm?

For lawyers starting their own law firm, referrals should have a separate section in your marketing plan. While marketing through your own efforts is important when you’re first getting started, referrals remain a cornerstone of how clients find lawyers. According to successful law firm owner, Stephen C. Paul;

Is online marketing a strategy?

Online marketing isn’t just an if-you-build-it-they-will-come scenario. Marketing through a great website and strong content is a winning marketing strategy, but it’s also a long game. Being patient, consistent, and having realistic expectations will help inform your plan.

Business Formation

See more on foundersguide.com

Protecting Intellectual Property

Drafting Privacy Policies

Creating Employment Agreements

Protection from Defamation

Corporate Governance

Exit Strategies