Affordable Business attorney

Affordable Business attorney

Business law, or commercial law, is the branch of civil law governing business and commerce. It provides a legal framework for creating, organizing and conducting businesses. Business law covers a wide variety of topics including corporations, partnerships, limited partnerships, franchises, and limited liability companies.

Starting up a New Business

When you start a business, it is important to have a written business plan, a good understanding of the economics of the business, some experience in a related business, and enough funds to be able to cover your costs until the business becomes profitable.

Before starting a business, it’s a good idea to speak to an accountant and a business lawyer, so that you understand the tax and legal issues of your venture, and the best ways to limit your personal liability. A brief legal consultation can save you a lot of money over the long term and short term.

Types of Business Structures

The legal structure of your business is extremely important. State law enables you to create a legal entity (a separate “identity” from your own person) under which you can transact business, without the risk of exposing your assets to any personal liability that might arise out of your business affairs.

The most common forms of business organizations include:

  • Sole proprietorship
  • Partnership
  • General partnership
  • Limited partnership
  • Limited liability partnership
  • Corporation
  • Subchapter S corporation
  • Subchapter C corporation
  • Limited liability company

The form of your business entity will determine the extent of your personal liability how the business will be taxed, so it is important to obtain advice from an experienced business lawyer before you decide how to structure your new enterprise.

Legal Issues to Consider

From business structure to taxes, there are numerous legal issues to consider when starting a company. Failure to understand these issues can torpedo even the best business concept. The following issues often cause problems:

  • Trademarks: Register your trademark! Simply reserving a domain name does not guarantee legal rights. Since domain name registrants do not deal with trademark disputes, federal trademarks take precedence over domain registrations.
  • Investors and Partners: It is vital to document all financial understandings with co-founders, in case disputes arise at a later date.
  • Employees: Consider the legal issues involved in hiring employees. Employees have many legal rights that must not be neglected.
  • Contract liability: Establish limits of liability in contracts by limiting the maximum liability to that of the contract and by excluding consequential damages.

Starting up a new business can be very exciting, but in order to ensure the future success of your venture, it is important to involve a business lawyer in the early stages of your planning.

Related Posts
Renting Office Space: Know What’s Involved
Office spaces are efficient for business owners and entrepreneurs to run their operations. Sometimes, sharing these commercial spaces with another person in the same line of profession or business is ...
READ MORE
Which terms should be there in your Lease and Rental Agreement
There are terms you need to look out for before you sign a lease or rental agreement. That’s because if you’re not careful enough, chances are, the landlord or landlady ...
READ MORE
Pay taxes on time
When April 15 is round the corner, it becomes a really stressful time for the tax payers. Paying of tax is imperative for one and all. Hence there are also ...
READ MORE
How to find a good lawyer
Lawyers are everywhere, each has her or his own expertise or specialised area in the fields of law that vary from civil, criminal or appellate litigation. Finding however a good ...
READ MORE
Contracts of lease
Contracts of Lease is a common bilateral agreement between the Lessor (the landlord), the party who leases a space or a property for a fee (more popularly recognized as rents) ...
READ MORE
While choosing tenants, avoid Fair Housing Complaints and Lawsuits
There are Federal and State laws that promote antidiscrimination where you as a landlord have certain limitations with the things you should say & do when selecting a tenant. If ...
READ MORE
Child Abuse
Kid misuse is the actual, sex-related or emotional maltreatment or ignore of kids or kids. In the United States, the Centers for Disease Control and Prevention (CDC) and the Department ...
READ MORE
The real estate law and the tips to purchase real estate
The Real Estate Law is indeed extensive and this is not possible for a layman to know each and every memorandum of the law. Thus, if you are planning to ...
READ MORE
Business Law
Men are born merchants and businessmen and as we can see, businesses flourish everywhere either as small or large scale enterprises. Doing business has corresponding responsibility and liability. To be ...
READ MORE
What to do when your landlord harassed or threatened you
Several forms of harassment could occur between a tenant and the landlord. Most of the time, it's the landlord who gets the upper hand because he is the owner of ...
READ MORE
Renting Office Space: Know What’s Involved
Which terms should be there in your lease
Pay taxes on time
How to find a good lawyer
Contracts of lease
While choosing tenants, avoid Fair Housing Complaints and
Child Abuse
The real estate law and the tips to
Business Law
Legal aid in landlord harassment