Business Formation Legal Help

Entrepreneurs do much of the start-up work themselves, but it's often beneficial to have an experienced attorney help start your business. Ensuring the proper legal framework for your business is essential for its long-term success. From understanding business law to knowing when to seek legal advice, small business owners have many considerations.

FindLaw's Business Formation Legal Help section provides information to help you determine if you should hire an attorney. In this section, you can also find information and resources to help you find a small business attorney. This article delves into the importance of getting the right legal help for business formation and the options available.

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Business Formation: A Brief Overview

When setting up a business, one of the first steps is to choose a business entity. The type of business entity you select, such as a sole proprietorship, partnership, or corporation, can affect many aspects of your business. It can affect liability, taxes, and how you run the business. 

Many entrepreneurs begin with a business plan, which outlines their goals and strategies. This plan is often vital when seeking financing. Furthermore, understanding business contracts, navigating potential business disputes, and ensuring your intellectual property is protected are crucial areas within business law.

When starting a business, it's important to make sure you do everything by the book. Failure to file the right taxes or get the applicable permits can have negative consequences. Choosing the wrong business structure or incorrectly filing the paperwork for the structure you choose could leave you open to personal liability for your business's debts.

How an Attorney Can Help

Although it's an added expense, an attorney can be a helpful asset to a person who is starting a business. Attorneys are familiar with the laws that will pertain to businesses in your location and industry. Attorneys can make sure all your business affairs are in order, help you with a variety of business tasks, and provide an answer to any legal question you might have.

A small business lawyer is equipped with the expertise to provide legal advice on various legal issues a business might face. They can guide you through the incorporation process. They can also help you draft operating agreements and review vital documents. If you're renting a space, legal services might also include negotiating leases. 

Moreover, legal needs can stretch beyond business law. It can encompass areas like employment law, real estate, and even estate planning. If your business merges with another or you're looking to acquire a new one, legal assistance becomes crucial to understanding mergers and associated legal matters.

An attorney can help you draft contracts with vendors and/or customers that you can use as the basis for future contracts. An attorney can also assist you in establishing hiring and firing practices and policies that can help shield you from lawsuits in the future. An attorney can also draft any partnership agreements, government registration documents, and tax forms to get your business started. Finally, an attorney will help you determine and obtain all of the permits and licenses required for your business.

Low-Cost Legal Help

Not every small business owner has the budget for a general counsel or a dedicated law office. Fortunately, there are affordable options. One simple, low-cost option is using do-it-yourself legal forms. These forms must usually be purchased but aren't very expensive. If you want to make sure your forms are all correct and in order, you can have an attorney review the forms, which would save considerable costs when compared to having an attorney draft the legal documents themselves.

There are also some legal resources that are free. The U.S. Small Business Administration (SBA), for example, provides helpful and free information on all aspects of a business, including starting and managing a business. You can always also use the Internet to research the legal topics or issues. This research can help you determine if it's something you can take care of on your own or if it would be a good idea to contact an attorney.

Get Legal Help With Business Formation Today

Recognizing when you need to consult a lawyer is the first step. From there, consider the practice areas they specialize in, ensuring they align with your needs. While digital resources can offer guidance, personalized advice tailored to your specific situation often requires a professional's touch. Navigating the complexities of business law can be challenging.

Speak to an experienced business law attorney about business formation today.