Structuring Your Business - Do you need a Business Attorney?

One of the first decisions you’ll need to make when starting a business concerns the form that business will take. Will it be sole proprietorship, a partnership, or a corporation? Who might give you financial support and advice? Running a business is a lonely venture, you can easily get lost in a maze of options. To assist you in your decision-making, you should need a good advisor. Although your spouse, friend, or even a next door business owner may help you, a better plan includes hiring a business attorney.

An attorney can be a great resource for a business owner from starting up through closing a business. He/she can help you choose the best structure for your business, assist with any state and local filings, and help you navigate the tax implications of your chosen structure. You can also seek the help of an attorney when entering into contracts, hiring employees, borrowing money and when selling the business.

Litigators are called on to resolve disputes, whereas a business lawyer works with the clients to prevent mistakes from happening and keep them out of a courtroom. Working with a business acquisition attorney before you move forward on certain types of projects will likely save your time and money down the road. Attorneys can provide advice on tax and liability issues, employment questions, and many other areas. They can review, draft, and negotiate contracts, help you come up with forms to streamline your day-to-day operations, and are a great source of referrals for other professional or services your business might need.

Then why wait? Contact your family lawyer and ask him/her to recommend three business lawyers. Do your homework and select the attorney who befits your needs.

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