Are you launching a small startup?
Congrats on your leap. Now it’s time to finalize the details by ensuring that you dot all your I’s and cross all your T’s.
One of the many things to not only consider but do is hire a lawyer.
“But I don’t need one,” you might proclaim. Well as you know two heads are certainly better than one. This is especially true in business.
Starting a business comes with a myriad of questions, one of which should be, “What does a business attorney do?” Learn everything you need to know here.
What Does a Business Attorney Do?
Business attorneys are integral in helping business owners to resolve their problems. Essentially, they help you as a business owner to understand the problems you’re encountering as well as prepare you for possible legal challenges in the future.
Now that you know exactly what they do, take a look at the four reasons why you should definitely hire one.
Incorporating Your Business
With a lawyer on board, you will garner help to decide what type of business you want to start and why. You can decide if you’ll be incorporated as an LLC, C-Corp or S-Corp.
Since each type has different structures and tax implications, having a lawyer to help with the paperwork will ensure that you choose the best one for your business.
Choosing Business Partners
Despite screening and selecting your business partners carefully, there is no guarantee that they will carry out duties as they should.
A good way to hold them to their obligations is to have your lawyer draft a partnership agreement that is to be carried out by all partners. This agreement will clearly outline each partner’s expectations of the other, their responsibilities and their financial duties.
Employees and Contracts
Lawyers will help you to determine which forms a new employee should sign and if they should sign a waiver. They can also draft the employee’s contract.
If you run into problems related to employee benefits or workplace safety, a lawyer can educate you on what to do. Your lawyer will also be able to represent you or suggest someone who can.
A business attorney can let your contractor know that they have dishonored your contractual agreement. Your attorney can also work with the contractor on your behalf to demand that you are paid what you are owed.
They negotiate and speak on your behalf and will even file a lawsuit if necessary. Your lawyer can advise you on how to deal with compliance issues with contracts and more. They can even help to implement systems to monitor and reduce risk.
A Final Look
As you launch your business, it’s good to know the answer to the question, “What does a business attorney do?”
A lawyer will help with incorporation, compliance, contracts, and partners. They make it easy for you to have peace of mind when dealing with the legal aspects of your business.
If you would like to hire a business attorney, please contact us.