With the new year approaching fast, many people are making changes in their lives (or at least planning to). Some want to improve their physical appearance by exercising and eating healthier foods, while others try to kick a bad habit, like smoking. Well, what about you? What changes would you like to make?
If you’ve always wanted to start your own business now may be the right time. Like people who want to lose weight or quit smoking, you’ll need some help to get you started and keep you moving you along the road to success. That’s where a business law attorney can help.
Why you need an experienced business law attorney for your company
Whether you’re starting a company on your own, with a partner or with several investors, business attorneys know the laws that apply to startups and can help you protect yourself from personal liability for business debts and obligations.
Here are 7 important steps in starting a business where an attorney can help
- 1. Forming a new business. The type of business entity you choose depends on factors such as liability, taxation and record keeping. The key is choosing the best fit for your organization. Whether it’s a sole proprietorship, partnership, LLC or corporation, an attorney can assist you in selecting and forming the right legal structure for your business.
- 2. Preparing documents. Are you going to buy or lease a building for your new company? Do you need new equipment to get started? An attorney can prepare any required documents for the purchase of business assets, including leases and agreements, and ensure smooth business transactions for now and in the future.
- 3. Daily Operations. Once you have everything set up for your business, it’ll be time to run the day-to-day business operations. An attorney can provide legal guidance regarding federal, state, and local laws as they impact business operations and help minimize risks and losses throughout the year.
- 4. Employment Law. Are you going to hire employees? Then you should know there are strict legal issues based on federal equal employment opportunity laws. An attorney can provide legal advice regarding discrimination, the difference between contractors and full-time employees, and other state and federal laws that need to be followed during the hiring process.
- 5. Employee Policies. If you have employees you will need to establish workplace rules and regulations for them to follow. An experienced business attorney can properly draft your employee handbook so it clearly outlines expectations, policies and procedures that everyone within your organization can understand.
- 6. Collections. If some of your clients or customers are not paying on time, or not paying at all, an attorney can advise you on the best way to collect the outstanding accounts receivable you are owed. Maybe all you need is a demand letter typed on legal stationary. Sometimes, pursuing an owed debt through civil court or a collections agency isn’t worth the time and expense. Either way, an attorney can let you know the best route to take.
- 7. Litigation. Unfortunately, business disputes happen. When conflicts like contract or partnership disputes, discrimination accusations, or insurance issues occur, an attorney can provide business litigation services in connection with claims asserted by or against your business. In addition, a business lawyer may be able to resolve the dispute outside of court, saving you money.
There are so many reasons why it’s beneficial to hire an experienced business attorney when you’re starting a new company. Understanding your personal liability, ensuring you don’t violate any laws, and controlling your risks when interacting with employees and customers are just a few.
If you’re ready to start your own company, contact the business law attorneys at Gottlieb, Johnston, Beam & Dal Ponte P.L.L. Our office is in Zanesville, Ohio, and we can help new business owners across Ohio. Here’s more information about our business law services.