A recent article, Can You Start a Business Without a Lawyer? by Sarah Landrum says that launching your own business is pretty hard and entails lots of expenses. These expenses include shelling out for lawyer services to help you avoid many startup drawbacks and to provide legal and financial protection.
Here are some cases where you need a lawyer for your startup.
Buying an existing business
When your business endeavor involves purchasing an existing business in an individual office space, a lawyer will help you with the following:
- Write the purchase agreement
- Set up the payment system
- Protect against liability
- Help to minimize taxes
- Provide advice about permits and licenses
Choosing a structure
The process of choosing the proper and best fit structure for your business is complex, with multiple layers. A business lawyer can help you choose the right structure (whether Sole Proprietorship, Limited Partnership or LLC) and organize it in the way it needs to be, to give your new business a better chance to thrive.
Complying with business requirements
Starting a business involves registration, permits, taxation and other related business requirements, and a lawyer will help you comply with these requirements speedily.
Checking the Details
A lawyer facilitates the process of checking details of your business (e.g. ensure your business name isn’t already in use–not registered with the U.S. Patent and Trademark Office).
Conclusion
Launching your own business involves risks, nevertheless hiring a lawyer provides you stability, security and ease during the initial setup. Then all you have to do is hire top talent and look for a presentable workplace to make your business a success. YourOffice is a leader in providing the most prestigious executive office space and shared office space for any size business. Convenient, hassle free, and move in ready- our offices, meeting rooms, and conference rooms are designed to meet your business’ every need.
Did you hire a lawyer when you launched your business? We’d be glad to see your comments below. We’d also appreciate seeing you on Twitter and Facebook.
