Published on July 20th, 2022 | by Sunit Nandi0
Questions To Ask Your Attorney Before Starting A Business
Starting a business involves a lot of things, from making plans, and producing goods and services, to preparing for financing. New entrepreneurs usually do not have the legal requirements to start a business. Meeting a business attorney can be an excellent start to any new business and will minimize any future risks. As a new entrepreneur, you may wonder what you should ask your attorney about starting a business. Below are some questions you can ask your attorney concerning starting a business.
The best business structure to choose for your business
Partnerships, sole proprietorships, and corporations are some of the different structures you can choose from for your business. The attorney will explain each of the structures, and from the plan you have for your business, you can select the one that best suits your business. According to legal terms, you and your business are considered the same person, and as the owner, you will be held liable for any loss or lawsuit involving the business.
What should be included in the operating agreement
The operating agreement is also known as the bylaw. The attorney will explain what guidelines will be included in the document to determine the operation of the business. Some of these guidelines include how the issuing of stock shares shall be done, when and how shareholder meetings are held and how ownership changes shall be done. An attorney can be of great help when preparing bylaws that will meet your unique business needs.
How to choose a name for your business
You do not want to use another business’s name or infringe on a registered trademark, so you will need to enquire with your attorney about your state’s rules on which names new businesses can use. If you decide to trademark a business, you will have to choose a name that meets the criteria of trademark protection.
How to minimize any future risks that the business may face
This will much depend on your attorneys’ knowledge. The best attorney is the one who has specialized in precisely one area of study. An attorney specializing in business matters would be the best choice, as he would know the ins and outs of different businesses. You can find such lawyers in various law firms, like Clearwater law firm. The attorney will inform you of the compliance law to help you avoid the risk of fines, penalties, or employment-related litigation.
How to protect your intellectual property
You should follow these steps to protect your business’ name, logos, and product packaging. You might also require copyright protection if your business has any copyrights in any original works, especially if you are venturing into the creative field. The attorney will help you identify your intellectual property.
Starting a business involves a lot of tasks that can be tiring, and you will require a lot of help and advice from knowledgeable people on business matters. It would be best if you do not let your enthusiasm for starting a business distract you from following the legal steps and planning your business strategy.