Starting a business is always a risky proposition whether someone is doing it by themself or with other people. However, it can also be a rewarding one since that person is striking out on their own and does not have to answer to anyone. That means there is a combination of risk and freedom whenever someone decides to start their own business. Before doing so, a sensible person will learn all they can about starting a business and get as much advice as they can. One question is whether legal advice is needed to start a business. The answer is that it depends on the type of business being formed.
Some types of businesses require very little legal advice while others need a lot. If a business does need legal advice, then it is imperative that the owner or owners get it from the right place. A business lawyer is the best source of legal advice and information for any business owner. They will make sure that the business follows all the laws, guidelines, and regulations so that the owner does not run into any legal trouble. And if problems do crop up, then the owner has someone on call who can take care of them. If you live in Orlando and are interested in forming a business, then contact the Parikh Law Firm to get the legal advice that you need.
When You Do Not Need Legal Advice
If you are starting a small business that is owned by you and no one else, then a lawyer may not be necessary. You will need to obtain the necessary state or local business licenses, but this is easy to do by yourself since you will just need to fill out some forms and pay some fees. The same goes for giving your business a name that isn’t your own personal name.
You might want to limit your personal liability when starting a business, in which case you can decide to create a one person LLC (limited liability company). This is easy to do since the website of your secretary of state should have all the forms you need to form an LLC. There are also online resources that can form an LLC for you, but you will have to pay a small fee for their services. You can go over LLC reviews to find a reputable company that will help you ensure that everything is set up accordingly.
When You Do Need Legal Advice
If you are forming a business with other people, or your business is going to be a complex one, or both, then you will need a business lawyer to help you. A lawyer is necessary when forming a business with other people because disputes can arise if the structure of the business is not well-organized. You will have to worry about the distribution of profits, ownership interests, and how the business will restructure if an owner decides to leave. A business lawyer can navigate those legal issues so that you or the other owners don’t need to worry about them.
You can form an LLC with multiple people, but in that case it is better to get a customized agreement rather than a stock one from a website. You will need a lawyer to prepare a custom agreement for you and your partners. A lawyer is also necessary when it comes to the intellectual property (IP) of your company. There are three different kinds of IP:
Trademarks – These are things like the name and logo of a company. A lawyer can help you to choose a name or logo that will have a lot of trademark protection and does not infringe on other established trademarks.
Patents – If you create something that you want to patent, then you will need the services of a patent lawyer because filing a patent application is a complicated process.
Copyrights – These involve works of authorship like software, artwork, writing, and so on. You can protect these works by registering them with the US Copyright Office. However, registering a copyright is much easier than registering a patent or trademark so you can easily do it yourself.
There are many other situations where you might need legal advice after forming a business. If your business involves signing or issuing a lot of contracts, then you will need a business lawyer to look them over to make sure that they are fair. If someone owes you a lot of money, then you might need to hire a lawyer to collect it from them for you. However, you can collect small debts yourself by going to a small claims court to resolve the dispute.
Business lawsuits definitely require the presence of a business attorney, whether you are the one getting sued or you are the one filing a lawsuit. If you have an employee dispute, then you may be able to deal with it yourself, but more serious disputes may require the intervention of an attorney.
A Lawyer Can Help You With Your Business
It is possible to learn some of the legal complexities of forming and running a business yourself, but that takes time, time that would be better spent actually running your business. Plus, there is the possibility that you could make mistakes that end up costing you down the line. That is why you should get legal advice from a business attorney if you plan on forming a business that has any degree of complexity to it.