Starting a new business? If so, this is probably a busy, but exciting, time. Business ownership can be a fulfilling experience, but it can also create a number of sizable challenges. You have to manage your cash flow and attract customers. You may need to hire staff. Depending on your type of product, you may need to protect intellectual property. Taxes and other business expenses are also a concern.
Fortunately, you don't have to handle all this yourself. You can hire outside partners to help you tackle these challenges. An accountant is an important outside consultant who can help you handle the financial obstacles that may arise in your new business. You also may want to consider partnering with a business attorney. Many businesses don't hire an attorney until they're already facing legal trouble. However, by hiring an attorney early in the process, you can avoid those types of issues. Below are a few ways in which an attorney can help your business:
Intellectual property. Every new business is born as a great idea. In fact, your great idea may have led to unique and innovative products, services, or processes. Those ideas may be what separates you from your competition. Did you invent a product that is a marked improvement over the others? Do you have a production process that uses a new method or approach? Perhaps even your branding or marketing is so unique that you want to protect it. Your attorney can help you file the appropriate copyrights and trademarks to protect your work. They can also send letters and file suits against those who attempt to violate your copyrights.
Government issues. While you may be free to start any type of business you like, that doesn't mean you can't let the government know about it. Depending on where you live, you may need to file for zoning permits, new business applications, licenses, and much more. You'll almost certainly need to structure your business either as a corporation or a limited liability company. You also may need taxpayer identification numbers. Your attorney can help you navigate all those issues.
Contracts. Contracts are an important part of any business. They can also be very complex. Every point of a contract could have big consequences in the future. As a new business, you may need to sign or create contracts for your work with a landlord, vendors and suppliers, new employees, and possibly even customers. You'll likely need someone to review those contracts to make sure they're in the best interest of you and your company. An experienced contracts attorney can help you get the right deal for your business.
Ready to grow your new enterprise? Talk to attorneys in your area and find one who understands your needs and goals.