Are you in the early planning stages of your business? If so, this is a great time to find a lawyer that can help provide legal advice as you form your business. You will need to decide on a business structure, select a name, and begin planning your future.
While you may be okay to select your business structure or name your business on your own, it is important to realize starting a business, especially one with employees, can be complex. One wrong step can land you deep in legal issues. This is why it is recommended to work with an experienced business law firm when opening a new company.
Listed below are some of the top reasons why you should never open a business without speaking with an attorney first:
- Protection against lawsuits
As you might guess, having a lawyer can help prevent lawsuits. In reality, if you’re hiring an attorney after you’ve already been sued, it’s probably too late. A good lawyer can help reduce the charges, but they can’t protect you from them entirely. Be proactive before a lawsuit occurs so you can cover all of your bases.
- Damage mitigation
Your business attorney can also help to reduce the damages you face in the event of a lawsuit. For example, if you’re faced with a personal injury case from an employee, a lawyer can help mitigate any damages. In order for them to get the best result, however, it’s important that you tell the truth. If you want an honest lawyer, you must be an honest client. Even if the employee was hurt because of something you did, it’s better for your lawyer to learn about it from you rather than the employee’s attorney.
- Contract drafting
Anytime you need to draft or negotiate a contract – whether with a customer, employee or supplier – it’s important that you have a lawyer present. A contract that hasn’t been approved by a lawyer can quickly cause problems. It’s your job to run a business, not memorize the rules. If you try to do the contract yourself, you’ll likely miss a few things that could get you in big trouble down the road.
- Business incorporation
Incorporating your business involves more than simply handing over a check and receiving a certificate. You need someone on your side that’s familiar with the process and can help you navigate it. You’re likely not familiar with all the intricacies of incorporating a business, but a good business lawyer will know exactly what to do.
- State and federal compliance
You probably know that state and federal laws are often different. When you incorporate a business, perform business dealings across state lines, build property and pay your taxes, there are certain rules and regulations you must observe. Even if you’re a wiz at research, as a small business owner, there’s no way you have the time to sift through all of these laws to ensure that you’re complying adequately with each one.
- Employee issues
Employee-related issues are all too common in the workplace, and they can leave you shorthanded and low on money. However, if you have retained the services of an attorney, those issues are quickly diminished since they can facilitate the hiring process, administer workers’ compensation, draft agreements for independent contractors and help you safely fire employees without legal repercussions.
The last thing you want is a lawsuit from an employee, and having an attorney on retainer, whether that’s a business lawyer or a personal injury lawyer, can significantly reduce that risk for your business. 7. Patent applications
If you’ve developed a new product or service, it’s important that you apply for a patent. However, obtaining a patent is time-consuming and expensive, especially if you go about the process yourself. Furthermore, it’s often difficult to get approved in a reasonable amount of time without the help of an attorney. Fortunately, an experienced patent attorney can help you get your patent in a timely manner.
- Business transfers
There are many legal implications associated with both purchasing and selling a business. It’s a little more complex than purchasing a car, for example, so having an attorney present to help you value the business, write the acquisition and purchasing agreements, and transfer any permits and licenses can be incredibly helpful. Working with an experienced business lawyer is crucial in these situations.
- Environmental regulation compliance
The environment has become a huge issue as more and more people are trying to save it. As a result, certain rules and regulations may affect your business. In addition, in the event that you failed to comply with a regulation and are facing a lawsuit, a good business lawyer is your first, and most important, line of defense.
- Business restructuring
If you’re seeking to restructure your business, it can be tempting to handle things yourself, but resist this urge. You’ll need to understand liabilities, tax obligations, ongoing expenses and employee-related concerns, just to name a few. Trying to handle each of these concerns on your own is daunting, and if you don’t get them exactly right from the start, you will likely face legal problems down the road.
These are just some of the many reasons Why You Should Never Open a Business Without Speaking With an Attorney First. Contact our office today to schedule a free consultation with a member of our legal team.
Best Business Attorney in Harris County, Texas
Attorney Fuller is a seasoned attorney with nearly three decades of experience representing a wide range of clients. This includes individuals who have suffered an injury due to another’s actions, individuals facing criminal charges, those who have been arrested for DWI, individuals who have found themselves in a civil litigation dispute, and those looking for legal guidance in business.
After filling out a client intake form, Attorney Lanease D. Fuller will take appropriate action in your case to help you get the results you are looking for. This includes but not limited to gathering evidence, going to trial, and earning a settlement that is appropriate for your specific situation. Reach out to us today to take the first step towards settling your case.
LANEASE D. FULLER LAW
4615 S. Frwy St. 820
Houston, TX 77051
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