Can you imagine having your business shut down shortly after it launched? One lawsuit or legal action against your business could close the doors for good. Hiring a lawyer before starting a business may help prevent such legal complications.
If you’re looking for more reasons to hire an attorney, read on to discover why having one is good business sense. Here’s a list of 5 ways in which a business attorney could be advantageous to your small business.
- Structuring Your Business Entity
Consulting a business attorney before launch sets you off in the right direction. One of the many things a small business lawyer advises on is business structure. Do you know the benefits and pitfalls of a Sole Proprietorship vs. a Limited Liability Company (LLC)?
And the advice of a small business attorney doesn’t have to end at selecting the best entity structure. They offer a broad selection of services, including establishing bylaws, filing the necessary state documentation, and everything between. Build your business on a strong foundation, supported by a small business attorney.
- Contracts and Legal Advice
Unless you’re familiar with the laws pertaining to creating, maintaining, and growing your business, hire an attorney. Business attorneys draft agreements, advise on concerns, and provide legal representation. Their priority is protecting your business in all possible ways.
Don’t try to go it alone or use generic online resources. You need agreements centered around your business. Hire a business attorney to protect the best interest of your business.
- Help With Bankruptcy Proceedings
Not all small businesses thrive, so have an attorney in case yours suffers financial hardship. Take the advice of your attorney when filing for bankruptcy so you don’t lose everything you own. You may have a chance at protecting your credit by properly handling a bankruptcy.
- Protect Intellectual Property
Don’t let someone else make money off of your ideas. A business attorney protects your patents, trademarks, and copyrights. Secure the protection your business needs.
A business attorney knows how to protect your physical property, too. They’ll keep you from losing trade secrets. And they help protect your assets from frivolous lawsuits from someone seeking to ruin your business reputation.
- Tax Preparation and Filing
It may surprise you to learn a business attorney has the knowledge and resources to assist with accounting. When you’re running a business, it’s challenging to keep up with everything. A business attorney can navigate your state’s tax registration and filing process for you.
Avoid penalties for tax oversights. Whether they’re innocent mistakes or willful neglect, tax errors could put your business in jeopardy. Let a professional manage your tax matters.
You Should Hire a Business Attorney
The best business attorney is one who knows the first and last steps to small business ownership. Don’t let anything slip through the cracks. Google “business attorney near me” to find the right one for your business.
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