Starting a business can be very exciting in the life of any new entrepreneur. If that’s the case for you, then you’ll probably be too busy making plans and developing your product to have time for anything else. However, meeting and working with a commercial attorney may be one of the most important things you can do for your company.
At Barrera, Sanchez & Associates, P.C., we work around the clock with new business owners to show them how to get started and provide the information and representation they need. Our lawyers have the ability to identify and minimize any risks your new business could potentially face. Chances are you may not know exactly which questions to ask during your first meeting with a lawyer. To help, our business attorneys have prepared a few to always keep in mind.
Starting a business can be a long and difficult road to travel. With us by your side, it doesn’t have to be. Contact us to learn what we can do to help you get started.
Should I Choose a Specific Business Structure?
If you decide not to establish a formal business entity, then your company will be a sole proprietorship or general partnership. This means, legally, you and your business will be considered “one.” This can often lead to trouble since, if your company is sued or in debt, you are personally liable for those obligations.
This liability can be limited by creating a business entity such as a corporation, limited liability company or a limited liability partnership. If this business cannot fulfill its financial obligations, the owner’s personal assets will not be at risk. The decision you make when choosing a business structure will affect the way your company is owned, managed and taxed, so choose carefully.
Is the Name Okay?
Your business’s name is probably one of the most important factors and you’ve probably spent hours upon hours trying to come up with the perfect fit. However, you must consider legal issues before putting up signage. Each state has rules regarding company names and you generally are not allowed to use something that has been used before. Additionally, you must be sure that your name will not infringe on another company’s registered trademark. If you wish to seek a trademark for your business as well, you must insure that all guidelines have been followed beforehand.
Is there a Way to Minimize Risks as an Employer?
There’s a chance your business may be required to abide by several federal and state employment laws. If you fail to follow them, you may risk fines, penalties and even lawsuits. These laws can range from anti-discrimination to health and safety regulations, and everything else in between. It’s important to fully understand the laws your business may have to follow before it even starts functioning.
Does My Business Require Contracts?
A contract can protect your business by recounting the rights and accountabilities of the parties involved in the agreement. A properly-made contract can help you avoid any possible troubles such as:
- Not being paid for the work done
- Ending up with a party that does not hold up its end of the deal
- Disputes as a result of poor work
Your business may additionally require contracts for unchanging transactions in order to protect confidential information, describe employment or for major transactions.
Are there Other Risks to Consider?
Unfortunately, the risks your business may face may be unique compared to other cases, but this doesn’t mean you can’t protect yourself and your company against them. It’s important to remember that some risks can be minimized with contracts or entity formations, yet others may very well require insurance. Whatever the case, the attorneys of Barrera, Sanchez & Associates, P.C., will help you assess any risks and find the most effective ways to avoid them.
Representation You Can Trust
Our commercial lawyers understand that your business is highly important to you and your loved ones. That is why we want to help you keep it in a steady pace of prosperity. Whether you’re just starting your company, looking to protect it against a lawsuit or are in the process of expansion, Barrera, Sanchez & Associates, P.C. is here to help. For more information about what we can do for your company, give us a call today.