7 Questions to Ask Your Attorney Before Starting a Business
- What Business Structure Should I Choose? Before starting a small business, you must decide how your business will be structured. ...
- What Do I Need to Know About Choosing a Name for my Business? You probably already have ideas about the name you’d like for your new business. ...
- How Do I Minimize My Risks as an Employer? A variety of federal and state employment laws may apply to your business. ...
- What Should Be In My Operating Agreement or Bylaws? Corporate bylaws and LLC operating agreements provide important guidelines for operating your business. ...
- How Can I Protect My Intellectual Property? All small businesses potentially have trademarks that they use to identify the business and distinguish it from others. ...
- What Contracts Does My Business Need? Contracts protect your business by describing the rights and responsibilities of the parties to the agreement. ...
- What Other Risks Should I Be Guarding Against?
7 Questions to Ask Your Attorney Before Starting a Business
- What Business Structure Should I Choose? ...
- What Do I Need to Know About Choosing a Name for my Business? ...
- How Do I Minimize My Risks as an Employer? ...
- What Should Be In My Operating Agreement or Bylaws? ...
- How Can I Protect My Intellectual Property?
What questions should I Ask my Lawyer when meeting with him?
May 19, 2019 · Here are some questions to get you started: 1. What business structure would work best? When you are setting up your business, you need to figure out how it will be structured. If you decide not to form a formal business entity, your business will need to be set up as a sole proprietorship or a general partnership.
Do you need a lawyer to start a small business?
May 26, 2019 · Here are a few more questions you should ask your lawyer about starting up your new business: 1: What should I put in my operating agreement or bylaws? Corporate bylaws and LLC operating agreements are essential guidelines …
What are the most frequently asked questions about starting a business?
These are questions pertaining to understanding who your lawyer is, how they operate, and what you should expect from them. They might include: How long have you been practicing law? What do you specialize in? What are your main roles and duties? What goes beyond that scope? How do you bill? What companies do you generally work with?
Why should you hire a business lawyer?
Feb 12, 2013 · Here are 10 key questions to help you find an attorney who is just the right fit for your business: How much experience do you have with my industry? Such issues as intellectual property, franchise...
What questions should I ask a startup lawyer?
7 questions to ask your startup lawyerDo You Work With Companies Comparable to Mine? ... How Do You Bill? ... Will I Be Comfortable Working With You? ... What Is Your Focus? ... What Is Your Past Experience? ... Are You the Best in the City? ... What Is Your Age and Experience With Technology?Aug 3, 2013
What are good questions to ask lawyers?
Questions to Ask Your Lawyer During a Consultation1) What kind of experience do you have with similar cases?2) What would be your strategy for my case?3) Are there any alternatives to going to court?4) What are my possible outcomes?5) Who will actually handle my case?6) What is my role in my case?More items...•Jan 29, 2017
What questions should I ask a corporate lawyer?
General QuestionsHow long have you been practicing law?What do you specialize in?What are your main roles and duties? What goes beyond that scope?How do you bill?What companies do you generally work with? ... Are you experienced with startups?Are you familiar with the laws of incorporation in my specific state?
What questions do entrepreneurs ask?
15 Questions to ask an entrepreneurWhat inspired you to develop your idea? ... How have your priorities changed from when you first started? ... Knowing what you know now, is there anything you would have done differently when you were first starting out? ... How did you decide where to establish your company?More items...•Oct 5, 2021
How do I prepare for an attorney interview?
If you are interviewing virtually, all of these tips apply.Do your research. Lawyers are known for being good researchers. ... Be presentable and dress your best. ... Come prepared to ask questions. ... Be personable and show enthusiasm. ... Be genuine. ... Promptly send a thank-you note.Oct 28, 2020
Should you always ask for a lawyer?
If you spontaneously or voluntarily speak without being questioned, your words can be used against you. Not only is it good to ask for an attorney, but you should also stop speaking until you have a chance to consult with an attorney on your case.
What do you talk about with a business lawyer?
7 Questions to Ask Your Attorney Before Starting a BusinessWhat Business Structure Should I Choose? ... What Do I Need to Know About Choosing a Name for my Business? ... How Do I Minimize My Risks as an Employer? ... What Should Be In My Operating Agreement or Bylaws? ... How Can I Protect My Intellectual Property?More items...•Nov 9, 2020
Do I need a lawyer to start a business?
Sole proprietorships, being the simplest business entity, can easily be launched on your own without a lawyer. You don't have to file incorporation documents to start operating. Although, you may need to file an assumed name certificate locally, obtain all licenses and permits, and get an EIN from the IRS.Apr 4, 2019
How do you answer legal interview questions?
Below are some common legal interview questions—plus suggestions on how to approach them.Tell me a little about yourself. ... What attracted you to our firm/organization? ... Can you describe a challenge or conflict you have faced at work and how you overcame it? ... What is your biggest weakness? ... Do you have any questions for us?Mar 20, 2021
What are the questions that every entrepreneur should ask before starting a business?
Answer the following 9 questions to better understand whether you're in the position to start a business of your own.Who are My Primary Competitors in the Industry? ... How Is the Market Responding to This Industry? ... How Is My Solution Different From My Competitors? ... Who Is My Ideal Customer? ... How Will I Market My Business?More items...•May 27, 2019
What motivated you start your business?
People become entrepreneurs for various motives that include generating wealth, a vision of transforming people's lives, autonomy and a sense of accomplishment.
What are good questions to ask a successful person?
7 Important Questions to Ask People You AdmireWhat's the biggest factor that has helped you be successful? ... What are your success habits? ... What mistakes have you made along the way? ... What was the hardest decision you ever had to make? ... What is the best advice you can give?More items...
How Should I Structure My Business?
This seems like a basic question, but it’s actually one of the most important things you can ask when you sit down with a business attorney.
How Do I Protect My Personal Assets?
Regardless of the specific structure you choose for your business, you want to structure your business to protect your non-business assets.
How Do I Minimize My Risk?
Regardless of the type of business you own, there is a huge range of state and federal regulations that apply to you.
What Should Be in My Bylaws?
Part of this process of minimizing risk and protecting your assets involves writing your bylaws properly.
How Can I Protect My Intellectual Property?
All businesses, yours included, need certain trademarks to identify themselves from other businesses.
What Contracts Does My Business Need?
Contracts are one of the most basic things you deal with on a day-to-day basis in your business. But they’re central to successfully running a business, as they spell out your responsibilities and obligations in any agreement.
More Questions to Ask an Attorney
Now that you know what questions to ask an attorney, you need to find an attorney to answer them for you.
What are the legal ramifications of starting a business?
There are several legal ramifications of starting a business. It can lead to issues related to liability, copyright, employee rights and everything in between. So one of the first steps you should take as you work to get your business off the ground is speak with an experienced business attorney.
What happens if a business has an outside investor?
If your business has any outside investors, it could impact the type of corporate entity you’re able to establish for your business. Specifically, you need to be sure that the structure provides a corporate shield for your investors as well as yourself.
Who is Ben De Leon?
Ben De Leon is the President of De Leon Washburn & Ward, P.C., where he has served as general counsel to some of the fastest growing companies in Texas. As an experienced business lawyer, he recently spoke with Small Business Trends about some of the most important legal issues that new entrepreneurs should discuss when getting started.
What is a corporate shield?
Only by establishing a corporate entity and following the necessary corporate laws and regulations do small business owners enjoy what’s commonly known as a “corporate shield” that protects their personal assets and ensures only their business assets are at play.”.
Do you need a lawyer for a business?
Once your business starts working with vendors, suppliers, clients, or any other third parties, you’ll need written agreements in place to ensure that all parties involved know what to expect. A lawyer can help you draft specifics or at least walk you through the creation of some templates that you can use in common situations.
What is a business lawyer?
A business lawyer is a person best suited for helping you make that decision. Both sole proprietorships and general partnerships view the business and the owner as the same entity, so if there are debts or legal issues, you would be held liable.
What does it mean to consult with a lawyer?
By consulting with a seasoned attorney, you can establish that you’re currently operating within the boundaries of the law. If not, your lawyer can point out areas that require redress. In addition, laws and regulations are changed or updated regularly; therefore, you need a lawyer to apprise you of any such changes.
Do LLCs pay taxes?
Like corporations, they offer legal liability protection for the individual owners but, unlike corporations, are treated similar to sole proprietorships when tax time comes around (LLCs never pay taxes—the owners do).
Is it bad to take money out of a company's account?
It’s tempting to simply take your payment out of the company’s funds and call it good. It’s also financially dangerous to do so. A business should be run as a business, not a personal checking account. To avoid legal snags and tax questions you should always pay yourself with a check written from your business’s account.
Is it fun to start your own business?
Starting your own business can be fun and exciting. By turning your passion into your occupation you never have to “work” another day in your life! However, it can also be a scary time. You have to balance the risks with the reward and many new business owners don’t really understand the legal ramifications of launching their own start-up.
Structuring Your Business
There are several different business structures that you can choose when you’re forming your company, including LLCs, S corporations, C corporations, partnerships and sole-proprietorships. So speak with an attorney who can explain each option for you and then listen to your vision for your company so they can guide you in t…
Protecting Your Personal Assets
- No matter what specific structure turns out to be the best choice for your business, it’s essential that you structure it in a way that limits your personal liability and protects your non-business assets. De Leon said in an email to Small Business Trends, “Establishing a limited liability company or other corporate entity with the applicable government agency (e.g., filing a Certificat…
Choosing A Name
- Another part of getting your business officially up and running is choosing a name. Each state has its own processes for officially selecting a name. And you also need to be sure that you’re not infringing on any existing copyrights or trademarks with your name choice. So a business attorney can help you make sure your name of choice is available and walk you through the necessary pa…
Protecting Investors
- If your business has any outside investors, it could impact the type of corporate entity you’re able to establish for your business. Specifically, you need to be sure that the structure provides a corporate shield for your investors as well as yourself.
Establishing Ownership Responsibilities
- If your business has multiple partners or owners, you also need to have clear agreements about what is expected of each person and what the responsibilities are in terms of purchasing property or equipment. It’s best to have contracts or signed agreements in place when you’re just getting started so that all parties involved understand what is expected of them and what they are entitl…
Creating Internal Bylaws
- Then you also need to create some bylaws for your company as a whole. These should outline all of the rules that owners and management should follow over the course of running the business. De Leon says, “Owners must understand that establishing a corporate entity and securing an EIN number is but the first step; internal governing documents (e.g., Company Agreements/Bylaws/A…
Adhering to Compliance Practices
- The federal government and each individual state have requirements for record keeping, safety practices and a number of other business related processes. So your business needs to know exactly what is required in order to comply with all of those rules and regulations. Your lawyer can walk you through some of those issues and make sure you know exactly what records must be …
Making Sure You’Re Covered with Insurance
- Insurance can help you avoid costly issues down the road. Speak to your legal representative to discuss what types of coverage you might need or at least benefit from, including coverage for workplace injuries, data breaches, or non-injury claims made by employees or customers.
Creating Vendor Contracts
- Once your business starts working with vendors, suppliers, clients, or any other third parties, you’ll need written agreements in place to ensure that all parties involved know what to expect. A lawyer can help you draft specifics or at least walk you through the creation of some templates that you can use in common situations.
Navigating Tax Issues
- Your legal representation probably isn’t going to do your taxes for you or manage your books. But there are some tax ramifications of choosing different corporate entities or making some of the other decisions listed above. So it is important that you also have a good CPA in your corner, and your lawyer might be able to refer you to one so they can work in tandem on some of those impo…
Popular Posts:
- 1. how long can a lawyer hold a retainer
- 2. tv show lawyer who never finnished his house
- 3. who is a defence lawyer
- 4. how to find a good divorce lawyer indiana
- 5. medical malpractice claim, how to find the lawyer who filed case
- 6. if you are assaulted what kind of lawyer do you need
- 7. how to eal with a lawyer that wont return your call
- 8. what to do when divorce lawyer drops your case
- 9. how much for a good dui lawyer
- 10. how to obtain a pro bono lawyer