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10 Causes to Employ a Small Company Lawyer for Your Startup

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You’ve only made a massive and potentially life-changing choice. It’s time to begin your own business that you’ve been dreaming about starting for a long time. You’re so glad you cannot think about it in your head. You cannot sleep at night because your brain churns out ideas after ideas and plan after plan, and all you need to do is kick off and get it done. When you’re so excited and enthusiastic, it’s easy to ignore details or their importance. Hiring a small lawyer for business is crucial for anyone preparing to begin a new company.

A lawyer’s assistance when starting a business startup is essential for many different reasons. We’ll discuss ten reasons; however, keep in mind that every circumstance is unique when you go through the list. If you’re contemplating setting up a business and you have many more reasons in all cases it is, you’ll require the guidance of a small-business attorney. Call Kam Law Firm today if you’d like a personal analysis of your circumstances. Kam Law Firm today to set up a consultation.

1. DECISIONS DURING THE IDEA STAGE

Before you start your opportunities to the public, You will find many options to consider which will affect the daily activities of your business going forward. What do you want to call your business? Is the name you’ve got in your mind already available? What’s your marketing tagline? Are you able to use it without any difficulties? Where will your company be situated? Are there any zoning regulations of which you must be aware? These are only one of many examples of choices that must be taken before you begin to do what you’d like to accomplish. These kinds of decisions are much easier to make with the assistance of a small business lawyer.

2. STARTUP PROTOCOLS AND LEGAL REQUIREMENTS

A second decision you’ll likely have to take is the business entity you’d like to establish. It is necessary to register because of several reasons, not most important of which is that the majority of business organizations require registration with the California State’s Office of Secretary of State, and all companies will have to sign up and obtain an official business license from the local municipal authorities where they conduct business. Additionally, you might require a public announcement of your intention to start an entity, which might mean publishing the announcement in a local newspaper for four weeks. You must do the right thing, or you may be in trouble, and that’s another reason to hire an attorney to help with your business’s startup is a smart choice.

3. BANKING QUESTIONS

If you’re looking to begin an enterprise, you’re likely to require opening an account with a bank or several bank accounts. It is also possible to seek credit in credit cards or lines of credit if you can get it. It’s highly recommended to have various reasons to keep your company finances distinct from yours since it’s much simpler to manage these separate financial records at tax time or should other concerns arise. An attorney for small businesses will help you select the right bank and kind of account that you’re required to create so that you don’t get caught in a maze once you’ve started your main task.

4. TAX QUESTIONS

Since our nation’s inception, there has been a popular quote that people often repeat in various contexts “Nothing is certain except for death and taxes.” Most people attributed the phrase to Benjamin Franklin when he included the phrase in a letter written in 1789, but there is some debate over the source of that quote. The fact that is indisputable is that any business is taxed in one manner or the other, and you’ll require an attorney for your business beginning to ensure that you comply with the local, state and federal tax laws ensure that you’re not confronted with double taxation. Before beginning your business, tax-related questions must be addressed so that you are aware of what you can expect from this area. Then you’ll need to consult an accountant to address specific tax concerns.

5. INSURANCE QUESTIONS

One of the topics you’ll hear about and consider when you are getting ready to begin your business is responsible. You’re accountable for the product or service you offer to your clients or customers, and you’ll want to ensure that you’re covered from personal responsibility should something occur wrong. It is also possible to follow laws that require some form of liability insurance; however, deciding on the appropriate coverage and knowing the purpose of that insurance are complex tasks that must be handled correctly. An attorney for small businesses can assist your business with the coverage you require while also aiding you in minimizing the risk of unpleasant and unexpected events down the line.

6. DEBT MANAGEMENT

For most Americans, it is just an aspect of their daily routine. In the case of the vast majority of small-business owners, it is a problem that exists before they even open their doors. A study by Experian conducted in 2016 revealed that small business owners typically have to pay more than $2,000 in monthly repayments to service the cost of debt. The debt issue is real and isn’t go away in a flash. As with everything else, there are a lot of questions, confusion, and difficulties about debt that may arise, which could hinder your company’s ability forward. The best approach to handle debt problems is through guidance from a small-business attorney who can help you understand the legal issues involved and fight to protect you when there are problems.

7. INTELLECTUAL PROPERTY QUESTIONS

There are some types of companies where the business owner will require assistance from an attorney for patents or who is highly specialized in protecting their clients’ inventions. In other cases, concerns about intellectual property could still arise regarding issues like copies of trade secrets and copyrights. If you’re setting up a new venture, most likely, you’re doing it because of an innovative idea or product you’ve come up with. No matter the particulars, you’ll need to ensure you have your company’s name and logo, and the other elements of your company are secure, and a small-business attorney can aid you with this.

8. EMPLOYEE POLICIES

Most people know that small businesses fuel our American economy in numerous ways. According to data released by the Small Business & Entrepreneurial Council, firms employing less than 20 employees accounted for 90% of the 5.6 million employers in the United States in 2016. This means that over 5 million companies across the nation could be considered “small.” It also implies that if you’re launching an enterprise, you’ll likely require employees and possibly independent contractors in the near future. Each of these agreements needs planning and documentation, and a small-business attorney’s guidance should accompany each to ensure that your business is safe and compliant with the laws applicable to your business.

9. CONTRACT OVERSIGHT

Many small-scale business owners will fondly recall the day they signed the first agreement with a client or client. It’s an essential aspect of the achievement of any business. To ensure that this is a lasting memory, small-scale entrepreneurs should ensure that they’ve got all their contracts written or, at the minimum, examined by a small-business lawyer who is experienced in these matters. Every word and condition is important and requires an exhaustive analysis before a contract is executed.

10. DISPUTE ADVOCACY

It’s normal for businesses to be involved in disputes of one kind or another. It’s also quite common for startups to find themselves in problems with a vendor or a bigger, more established company. In any case, entrepreneurs need an attorney for small businesses on hand to advocate for their business when situations occur. An attorney who isn’t likely to shy away from advocating fervently for their clients will make a difference and may even assist in resolving problems before they turn into bigger problems. In certain situations, mention that an attorney represents you. You could prevent problems completely.

HOW KAM LAW FIRM CAN HELP

Beginning a business can be an exciting period like in the previous paragraph. You must be focused on what motivates you concerning your business and reduce the likelihood of being overwhelmed by the red tape, regulations or other legalities. If you’d like to know more about ways to reach your goal, call Kam Law Firm today. Kam Law Firm today to set up a consultation for a free initial appointment. We will provide you with small-business attorney guidance that every new business requires.

Brian Santiago

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