There are several different types of attorneys that could be beneficial in starting a business. Examples include general business attorneys, contract attorneys, and tax attorneys. Local attorneys will be aware of what laws apply to which industries, and what specific licensure you will need to obtain to start your own business.
There are several different types of attorneys that could be beneficial in starting a business. Examples include general business attorneys, contract attorneys, and tax attorneys. Local attorneys will be aware of what laws apply to which industries, and what specific licensure you will need to obtain to start your own business.
 · Among the countless worries for entrepreneurs who are starting or are already running a small business is the question of whether they need a business lawyer. The perception is that attorneys charge high rates and many small businesses don't have much, if any, extra capital with which to pay lawyers. As a result, most small business owners only hire an …
Generally, partnerships are the first entity type for which some business owners choose to seek the help of an attorney. You will need to register an assumed business name at the state or local level. More importantly, creating a partnership agreement for partners to enter into, while not mandatory in most states, is strongly urged.
Depending on your industry, state, how many people are involved, and your business needs, requirements for a start-up will vary. An experienced lawyer can provide support with navigating the many forms and requirements of legal documents, trademarking your name, discussing potential legal structures, etc. Many new businesses need start-up assistance and capital …
The first thing we do for our clients is to prepare and file the Articles of Organization with the Oklahoma Secretary of State. This form is the legal document that creates your company as an official Oklahoma LLC.
Next, we create an operating agreement. Within your operating agreement, you will find information that outlines the operating procedures of your new business.
A federal ID number is assigned by the IRS and is used to identify your business for tax purposes. You will need to obtain your federal identification number to hire employees. You will also need this number to open a bank account for your business or file your taxes.
Once your articles of organization and the operating agreement are in order you will need to conduct an organizational meeting for your new LLC. This is the first official meeting of your business and should involve all of the owners or members.
Once you have the legal aspect of your new LLC in order, it is time to launch your business! There are several ways to generate interest and promote your business. I have found that a website is one of the most effective methods for gaining business in today’s economy. You can read more about using a website to generate business here.
People sometimes wonder what types of lawyers are available to them. Lawyers often specialize in either business law or personal law. For this reason, you should search for lawyers who have business law experience.
1. General Business Lawyer. As the name suggests, a general business lawyer can provide legal advice on a wide range of matters. This type of lawyer has a hand in every legal discipline. If your business doesn’t deal with special circumstances, a general business lawyer may be well suited to your purposes.
When searching for a tax attorney, choose ones that have experience in dealing with tax law. They should be licensed to be a lawyer and have gone through tax law training, preferably a master’s degree. If you belong to an association for your business, consider asking around for a referral.
Deals that involve intellectual property may require the expertise of an IP lawyer. Some M&A lawyers have this expertise, but it should never be assumed.
M&A lawyers understand the nuances associated with mergers and acquisitions. The opposing party will try to negotiate the best deal for their benefit. M&A is a complicated process, and trying to do this without an M&A lawyer is not a wise decision.
Employment law is one area that changes often, but it’s your law firm’s job to monitor these changes so that you don’t have to.
If you feel you need to terminate an employee, you can discuss the issue with your lawyer. They can determine the best way to handle the situation. If there’s still a legal issue, the lawyer can step in and represent your company.
Consulting a skilled and knowledgeable business startup lawyer can reduce the risk of loss, as well as ensure you are in compliance with all applicable laws. Previous sections have described how an attorney could benefit your small business. Additionally, a business attorney can also represent you in court as needed.
Other examples of tasks handled by small business attorneys include: Assisting with negotiating, drafting, and reviewing business contracts; Helping with business startup and incorporating filings;
An attorney referral service, such as LegalMatch, is how most people locate small business lawyers. Such services match you to an attorney in your area based on criteria that you provide. Other means of finding an attorney include an online search, and asking friends and family.
Examples include general business attorneys, contract attorneys, and tax attorneys. Local attorneys will be aware of what laws apply to which industries, and what specific licensure you will need to obtain to start your own business.
According to statistics provided in 2018 by the Office of Advocacy for the United State Small Business Administration, personal and family savings account for the most common source of financing for small businesses. Other common ways of funding and financing small businesses include:
Teams and Marketing: You should identify those who will be able to get your business started. This is your team, and they will help you grow your business if you cannot do it alone. Related to your team is your marketing strategy. Solid marketing is what will help your business grow and expand.
The most common form is an “ LLC ,” or limited liability company. The state in which you wish to form your business may also dictate what form that business takes, as well as tax incentives and implications associated with particular forms; and.
To prevent unnecessary attorney costs at the inception of your business as well as tremendous costs after a lawsuit has been filed, you might consider a consultation arrangement with an attorney. Such an arrangement would entail you doing most of the legwork of research and the attorney providing legal review or guidance.
Contact a qualified business attorney to help you address potential challenges a business can face.
An environmental issue arises and your business is involved (even if your business didn't cause the environmental problem, you may be penalized) Negotiating for the sale or your company or for the acquisition of another company or its assets.
But when you do, it's good to know where to find the right one. And -- more to the point -- you may not know you need legal help until it's too late, as attorneys can help you stay in compliance with the law and spot developing legal issues early.
Ensure compliance: A lawyer can help make sure that your business opens and operates by federal, state and local laws.
Establish agreements: A lawyer can help you establish formal legal documents that govern relationships across the organization . This way, you know what you owe to your partners, employees, vendors, customers or clients and their deliverables in return.
Picking a business name: An attorney can perform the research needed to ensure that the name you give your business is not in use by another business or trademarked. Operating under an already trademarked name can cause financial and legal woes down the road.
Master taxes: Attorneys trained in tax can help ensure that you pay the tax you owe; they can also help lower your tax liability by identifying valid business deductions and reimbursements.
Patenting a business idea: A lawyer can help advise you about how to keep your patent confidential, search for and avoid duplicate patents already filed with the U.S. Patent and Trademark Office, and file a patent application.
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.
Most states have adopted "Uniform Laws" that fill in the gaps for business entities where their charters, by-laws, and other organizing documents are silent. You may be subject to a whole set of laws and regulations that you don't even know exist. 2. Tax.
3. Autonomy. With many business entities, the things you don't decide are decided for you.
A good startup lawyer is more than a lawyer. They are also a close advisor and confidante as you’re trying to grow your business. Here are some of the important steps that startup lawyers can help you with: Deciding how to structure your new business.
Services like LegalMatch and UpCounsel will match you to the best startup lawyers located near your business. These sites are a great way to find attorneys who can help you through complicated legal concerns.
Obtaining a business loan: Your loan specialist, lender and accountant can typically walk you through everything you need to know when closing on a business loan.
If multiple people are involved, it can increase the time it takes to handle your case and, subsequently, can increase your final bill. So, make sure you understand what work the lawyer will do and what work the lawyer will delegate.
Unless you’re working with a lawyer from a solo firm or a very small firm, chances are good that others in the lawyer’s office will handle your business’s information. These may include junior partners, associates, paralegals and legal secretaries.
The cost of a startup lawyer can range anywhere from a $50 fixed fee on an online legal service to over $1,000 per hour for a senior partner from a prestigious law firm.
Just need help sorting through the lawyers in your zip code? Try a site like Avvo, which hosts the largest lawyer directory online. You can sort through lawyers based on location, areas of expertise, years of experience and rating.