Starting a new business is an exciting and chaotic experience. Unless you have done it before, many are unaware of the sheer amount of work it takes to go from concept to up and running. As a business owner, there are often many things requiring your immediate attentions, sometimes simultaneously, that you may find yourself wondering if you are forgetting something important. It does not have to be your first rodeo to leave you wondering about when you should consult with a business law attorney.
Sometimes startup owners put off consulting with a business attorney do so under the thought they can save some money by doing it themselves. Other owners are just unsure as to what assistance a business attorney can provide them with. Too often people think of attorneys as people you consult with after you have a legal problem. But business attorneys especially, help clients protect their business by trying to prevent legal problems. If you are unsure as to how a business attorney can help your business get off the ground, the following are just a few things he or she can assist you with:
- Selecting the right business structure. When forming a new business, an important first step is to select the right business structure. You can usually start by perusing the secretary of state’s website for your state to find general information about the different types of entities. But the information provided may not be detailed enough to help you choose whether a sole proprietorship, LLC, partnership, or corporation is the best fit for your individual business’s needs. An attorney can review these options with you and help answer your questions as to the tax and liability implications of each type.
- Checking to ensure business name availability. Before you order signage and business cards, you will want to make sure that the name you have selected for your business is actually available for use. A business attorney can review the necessary records to make sure the name you want is not in use by another business or is trademarked. Business owners can find themselves in hot water if they begin business operations using a name that is already trademarked. No owner wants to start a new business with potentially expensive legal woes that could have been easily prevented.
- Forming a business entity. Once a business structure and name is selected, your attorney can help you form your business entity. Depending on the type of structure chosen, certain documents may need to be filed with the state to register the business. In other cases, such as with a partnership for example, you will not need to register the business, but you will most likely want to have your attorney draft a partnership agreement.
- Tasks related to general operations. An attorney can also help with tasks related to the general operations of the company. For example, you may want to apply for EIN or employer identification number so that you can open a business bank account. An attorney can also help acquire the necessary licenses and permits your business requires to operate. He or she can also help draft or review contracts and lease agreements.
If you are a start-up owner looking for the right attorney to represent your business, look no further than Hubbard & Kurtz, L.L.P. At Hubbard & Kurtz, L.L.P. our seasoned team of business attorneys will take the time to learn about your business and to determine what steps need to be taken to ensure your business gets off the ground and running. To schedule an initial consultation with one of our experienced Kansas City Business Attorneys, contact Hubbard & Kurtz, L.L.P. today at (816) 472-4673. At Hubbard & Kurtz, L.L.P, we understood the needs of business.