Starting a new business is incredibly exciting, but there are many legal concerns as well. Take a look at a few reasons why you may need a business lawyer to help.
1. Avoid patent, trademark, and copyright infringement.
One of the biggest mistakes made by new business startups is stepping on the proverbial toes of another party when creating logos, branding imagery, slogans, or even their core products and services. You can't use anyone else's intellectual property as your own, but there are so many fine lines that can be crossed and it is hard to know what all is already slated as someone else's property. A business lawyer can help you do research to find out if you are free to use an idea.
2. Create legally binding contracts for vendors.
Working with vendors is a natural part of many business startups, and even these interactions have to be carefully managed to protect your own interests. Creating contracts is something that should always be done with the guidance of a lawyer when you are operating a business.
3. Protect your business property from liabilities.
Liabilities are a major concern for any business. One instance of someone getting hurt by your product or on your business property and it can cause you to go bankrupt due to legal fees and payments to the alleged victim. The business lawyer will help you properly protect your business by guiding you in picking the best insurance products and helping you eradicate any obvious risks that could bring about problems.
4. Plan ahead for business taxes.
Business taxes become a huge component of your finances when you are a business owner. The better prepared you are before that first year of filing business taxes, the less likely it will be that you do something wrong. For example, a business attorney can guide you on what you can legally count as expenses when you file so you know what documents you need to properly document so they can be filed with your taxes in the coming year.
5. Get started with employees in a legal way.
When your small business brings in employees, a lot of legalities can come into play. You will need guidance on how to draft hiring documents and how to protect yourself as an employer as you make these people a part of your operation. The business lawyer can help you through these tedious processes and ensure you are within the guidelines in your state.