Your small business can feel like one of the most precious things in the world, and you want nothing more than to ensure it is successful. A business lawyer can wear many hats to ensure your business thrives as it grows.
So how can a business lawyer help you?
IP
Your intellectual property is something that should be protected. A lawyer can help you to get trademarks for product names, services, logos and more. Securing your intellectual property is something that needs to be done early on in the start-up journey.
Preparing the paperwork needs to be done carefully, and as a bonus, your lawyer could also represent you if a person or company attempts to steal your idea.
Real estate
Although we are living in a very online world, many businesses need offices or stores to conduct their business. While a realtor will help you find the perfect locations, a lawyer can take care of the paperwork – and ensure that you are not signing a contract that will be detrimental to the future of your business.
It is not uncommon for small businesses to sign contracts not in their best interest because they are eager to get their business moving.
But singing the wrong thing can make many small businesses go under quickly.
Contracts
Good contracts are the backbone of your small business – both the ones you give to employees and freelancers and the ones you sign.
If the contracts you put together aren’t well done, you might find that you have left yourself open to legal action, and you will have no solid defence.
Your lawyer can help with stock agreements, employment contracts, NDAs, confidentially, terms of service, letters of intent and more.
Since contracts are legally binding, getting something wrong can be a huge issue.
Start-up
The start-up phase lasts up to 5 years, and a lot of stuff can happen in that time. The company will slowly mature, but you are considered a start-up until you surpass the 5 years.
Often people take the fastest route to be able to start their business, but it might not be the right thing. Instead, talking to a lawyer early on ensures that your legal structure is the right thing for you – even if you have already started up.
Although many businesses don’t need a lot of licenses – others will. A lawyer can ensure you have all the handbooks, contracts, licenses and permits in order. And, if you should need to have an overhaul later due to growth, or changes in legislation, a lawyer can make sure that you are always compliant.
Taxes
To ensure your taxes are up to standard, you will need an accountant and a tax lawyer on call. They’ll be able to make sure that you have your deductions and credits and are prepared for any audits that might be upcoming.
Business lawyers can make a huge difference in how your business grows, but there are some things you need to consider before you get to this point: Before You Start A Business, Ask Yourself These Questions.
Matt Hoffer is a crypto enthusiast and gamer. When he's not de-constructing the blockchain, you can find him chilling with some lemonade in the shade or playing a round of golf.
