Starting a business requires a lot of determination and grit. It’s a major life decision as well. Far too often, we see clients who want to start a business only to discover they’re not fully prepared for what the experience entails. To get your business started on the right foot, you need an experienced attorney on your side. Read on to learn why you need to hire a lawyer when business planning.
Proper Legal Structure
We can’t begin to tell you how many clients we’ve talked to who think they know how to structure their business only to discover their structure wasn’t the right type for their business. Proper legal structure relies on a variety of factors and a sound knowledge of local, state, and federal laws. An attorney will ensure your business uses the proper structure.
If you are buying an established business, you need to know exactly what you are getting and if it is a good deal. The complexities of a business sale include assets and other important elements that may be overlooked without the proper experience. An attorney will look over the deal and explain all provisions to you as well as negotiate the contract.
Protection of Intellectual Property
Your business likely includes some form of intellectual property. From trade secrets to copyrights, your business’ composition relies on your ideas. An attorney will ensure your intellectual property stays with you.
Deciding to open a business is a major decision, and it only makes sense to have an experienced eye help you. Whether you are looking to start from the ground up and create a new business, make changes to your existing business structure or acquire an established business, you need an attorney to make sure everything runs smoothly. Contact us to discuss your business planning needs.