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4 reasons to hire an attorney when starting a business

On Behalf of | Apr 25, 2016 | Uncategorized |

If you are considering starting your own business, it is an exciting time in your life. However, along with the excitement, you will encounter several legal issues as you begin your enterprise. As a result, you need to hire an attorney to provide legal advice to ensure that your operations are lawful and you are protected against liability. Some of the top issues that an attorney can assist you with include the following:

1. Choosing the right entity. One of the first tasks that you are faced with when forming a business is choosing the type of entity (e.g. partnership, LLC, corporation etc.). This is an important decision, as a poor choice could unnecessarily expose you to liability and undesirable tax issues. An attorney can listen to your goals and help you choose the right entity for your needs.

2. Dealing with paperwork. Starting a business involves a large amount of paperwork and legal formalities, such as securing capital, drafting bylaws and complying with tax requirements. Since this can confuse even the smartest of persons, having an attorney do it for you can ensure that it is done right, allowing you avoid pitfalls and begin operations as soon as possible.

3. Protecting information. As your production secrets, business plans and customer information is important to your competitive advantage, it is important to ensure that this information stays away from your competitors, who could use it to your detriment. An attorney can prevent this from occurring, ensuring that your legal right to your intellectual property is protected.

4. Reviewing and drafting contracts. Contracts are the lifeblood of business operations. It is therefore important to ensure that the contracts you enter into are fair and clearly drafted in order to avoid disputes in the future. An attorney can examine agreements from the point of view of your business and ensure that you avoid all unfair or unduly risky deals.

For over fifteen years, the experienced business law attorneys at Dunn Lambert LLC have helped New Jersey business owners address these and a multitude of other legal issues. Our attorneys can guide you through the formation process and ensure that the best interests of your business are protected at all times.