Starting and owning a business offers you many benefits. From being your own boss and making your dreams a reality to creating jobs for others, doing what you love and more, owning your own business is very rewarding.
However, there is a detailed process involved when starting a business. While you will need to plan your strategy and make important financial decisions, don’t forget the importance of having a business lawyer during the startup process.
While new business owners will obviously need the help of certain professionals from the get-go (such as an accountant), a business lawyer shouldn’t be overlooked.
Of course, the reasons for needing an accountant are pretty obvious: you need one to handle finances, taxes and payments. But you need a business lawyer to keep yourself and the company protected. You should have one present during the startup process because they will know the legal implications involved in everything from copyrighting your logo to dividing business ownership.
While there are many instances in which a business lawyer can assist you, here are three of the most common:
Preparing paperwork. When you start a new enterprise, these specialty lawyers will help you understand the different business entities and prepare the necessary paperwork. While you can do this on your own, an attorney can help you if things unexpectedly fall apart or you accidentally make a mistake. Some of the paperwork can be detailed and lengthy and an attorney can help you understand it.
Entering new contracts. As a business owner, you will work with a lot of different people. From customers to business partners and even employees, there will be lots of agreements to be made and it is important that they are properly written out and arranged. In regards to business partners, an attorney can help you negotiate a good contract.
Hiring new employees: While an attorney may not seem necessary when hiring a new employee, there are federal and state rules and regulations you must follow. These include rules for drafting the job positions and interview questions, as well as how you look into the background of potential candidates and complete new hire forms.
Of course, these are only three of the many instances in which you should seek a business lawyer. Remember, the best time to hire an attorney is before you need one. If you’re interested in or have recently started a new business, speak to an experienced Ventura County business lawyer and get started!