questions to ask your lawyer when you start a small business

^{Questions to Ask a Lawyer When Starting a Business}

1. What Should I Be Aware of When Choosing the Name of My Business? ...
2. What Do I Need to Include in My Bylaws or Operating Agreement? LLC operating agreements and corporate bylaws are crucial. ...
3. What Type of Contracts are Necessary for My Business Needs? In business, few things are more important than a well-written contract. Contracts are more than just pieces of paper. ...
4. Which Business Structure Will Work Best for Me? Deciding on your business structure can be one of the most important decisions you make. ...
As an Employer, Can I Do Anything to Minimize My Risks? As an employer, you have many responsibilities that are spelled out by federal and local authorities. ...
What is the Best Way to Protect My Intellectual Property? ...
Are There Other Risks I Need to Know About? Bear in mind that your list of questions for your lawyer may not cover everything. ...
What Can You Do From Now On to Help My Business? Although you’ve resolved the questions you have today, you will definitely have more of them in the future. ...
Do You Have Experience Specifically Related to My Type of Business? ...
Do You Make Referrals to Other Lawyers? Every now and then, it is possible that a legal issue will come up that has to do with an area of ...
Is It Possible to Reduce Some of the Costs for Your Services? This may sound like an odd one. ...
Do You Have Any Conflicts of Interest?

What are good questions to ask an attorney?

Ask the lawyer A number of questions arise: Can you show the tenant’s demand ... Do you know the expression “no good deed goes unpunished”? Bottom line: Consultation with counsel here also is advisable. Is the tenant’s conduct a breach of the ...

How to evaluate a business attorney?

• THE FUNDAMENTALS. There are two types of "practice areas" with which you should be familiar - litigation and transactional, Litigation is a lawsuit to resolve a problem or disagreement.
• THE GENERAL PRACTITIONER. ...
• LITIGATION SPECIALISTS. ...
• TRANSACTIONAL SPECIALISTS. ...
• FULL SERVICE LAW FIRM. ...

What should I ask before hiring an attorney?

• medical malpractice
• car accidents
• animal bites
• slip and fall
• products liability
• defamation, and
• assault and battery

How do you know the right business questions to ask?

How to Ask the Right Question in the Right Way

1. Avoid asking rhetorical questions. A rhetorical question is a figure of speech in the form of a question. ...
2. Ask friendly, clarifying questions. A good question lets you better understand the situation, and this requires not putting people on the defensive.
3. Don’t set traps. ...
4. Ask open-ended questions. ...
5. Be grateful. ...
6. Avoid stress. ...
7. Avoid being too direct. ...

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What questions should I ask before starting a business?

Why do I want to start a business? ... Can this business idea make me money now and in the future? ... Who is my target audience for my business? ... Who are my competitors? ... What is your USP? ... How will I market my business? ... How will I price my products? ... Do I have the funds to start this business?More items...•

Who do you talk to about starting a business?

4. A business coach or mentor. Getting a little advice from someone in the business world is also a good idea. Whether you're opening your first business or your fifth, talking with someone who can give you independent business advice will go a long way, Arney says.

What are 3 things you must do before starting a business?

3 Things You Must Do Before Starting a New BusinessTake a business or entrepreneur training class. Take a business class or workshop before you start a business. ... Create a business plan. Yes, you really do need a business plan. ... Conduct real research. ... Let's review:Take the next step.

What are the first steps to take if you are starting your own firm?

Conduct market research. Market research will tell you if there's an opportunity to turn your idea into a successful business. ... Write your business plan. ... Fund your business. ... Pick your business location. ... Choose a business structure. ... Choose your business name. ... Register your business. ... Get federal and state tax IDs.More items...

Should I protect my business's intellectual property?

The short answer is absolutely! Protecting your business’s intellectual property is essential to its growth and success moving forward.

Can I name my business whatever I want?

Before you set your business name in stone, first consult with a small business attorney who can help you determine whether your desired name is av...

What do I do if my desired business name is available, but I'm not quite ready to move forward?

The Texas Secretary of State permits online reservation of names for any type of filing entity. A business entity reservation is effective until th...

Why is it important to have an immigration lawyer?

Immigration laws are also important to comply with, especially if you have employees who are not citizens . An experienced lawyer can help put you on the right track by educating you on the laws associated with your business. This is definitely one of the very important questions to ask a lawyer when starting a business.

What is an LLC bylaw?

LLC operating agreements and corporate bylaws are crucial. They provide guidelines that make operating your business more efficient and legit. The documents explain all about shareholder meetings, LLC ownership changes, how shares of stock are issued, and how all major decisions will be made.

What type of business has only one owner?

The main types of business structures include a sole proprietorship, which has only one owner, a general partnership, which has two or more owners, or one of the types of entities that allow you to limit the liability that the company itself is responsible for.

Do business lawyers charge an annual fee?

A good business lawyer is truly invaluable, and most will allow you to pay an annual fee so that you can contact them anytime you need them. You can ask them questions about employees, paperwork and documentation, risk-management issues, personnel issues, and even concerns about your board members.

Can a lawyer write a summary of events?

Some lawyers even allow you to write a summary of events for a legal case or round up some documents yourself. This saves you some money that you can then use on other things. This is one of the great questions to ask a lawyer when starting a business. 12.

Do lawyers save money?

The fact is, most lawyers try to help you save on the fees you’re paying them. Ask your lawyer specifically if there are ways to save money on the legal services he or she provides. If the lawyer is adamantly against offering this option, it could be a red flag.

Is there a confidentiality agreement with a lawyer?

Yes, there is a lawyer-client confidentiality agreement, but it’s better to be safe than sorry. Even if you are certain that your lawyer will never discuss any details regarding your business with a competitor, you might feel uncomfortable sharing that information in the first place.

What is the key to a successful business?

In fact, the key to most successful businesses is the existence and implementation of legally sound contracts and agreements.

What are the factors to consider when selecting a business entity?

Some of the factors to take into consideration include: Whether you plan to have employees; Desired tax treatment for the entity; Whether you plan to own and operate the business yourself or with one or more business partners; and.

How long does a business entity reservation last?

A business entity reservation is effective until the 121st day after the application is accepted. This can give you some extra time to prepare for next steps while also keeping your preferred name on hold in the interim. 3.

Is it easy to pick a business name?

However, formally selecting your name is not always so simple. Sometimes, an aspiring business owner may have a name in mind only to discover that it is already being used by another business in the area.

What is the number one candidate for entrepreneurs who are more comfortable with working alone?

The sole proprietorship is the number one candidate for entrepreneurs who are more comfortable with working alone. From the phrase itself, it is easy to derive that the owner of the business is just one person who is most likely to be the manager as well.

Is it risky to start a business?

But starting a business can be a very risky venture. The more you plan and strategize before you start your business, the more likely you will be able to succeed. Here are the 5 top questions to ask a business lawyer before starting a business. Before you start your business, make sure yourself you ask the following….

What are the things that small business owners focus on when starting their latest venture?

Gaining customers. Producing a quality product. Finding new markets. These are the things that small business owners focus on when starting their latest venture. But while entrepreneurs are busy planning for the future, many fail to prepare for the worst.

Do small business owners need a lawyer?

After all, the law is a complex and sprawling discipline, and no one attorney can be expected to have mastered it all . That's why small business owners should seek out lawyers who are comfortable with ambiguity.

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 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 are the consequences of failing to take legal action?

Failure to take such actions can result in: Fines. Penalties. Legal liability. Business closure. By consulting with a seasoned attorney, you can establish that you’re currently operating within the boundaries of the law.

Written By

Jane Porter is a freelance writer and editor based in Brooklyn, NY. You can find more of her work at Janeroseporter .com

Jane Porter

Jane Porter is a freelance writer and editor based in Brooklyn, NY. You can find more of her work at Janeroseporter .com