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
Landlord cancel agreement: when and how?
A landlord can legally cancel the rental agreement if the tenant commits a significant violation or break the law. Ending “For Cause” When the landlord wants to end the tenancy due to ...
READ MORE
What works and what does not work in a traffic court?
Did you know that in a traffic court, when the officer who caught you fails to show up during the trial, you will win the case? This may happen if ...
READ MORE
Workers Compensation: Different illness and injuries covered
Just because you work in a company that has workers compensation doesn't mean you're entitled for coverage right away. Although it's very unfortunate that you met an accident or that ...
READ MORE
Different investment property purchasing options
Investing in real estate property has become a trending way to earn a profit for the last 50 years. It is important to learn the different property purchasing options and ...
READ MORE
Why to hire dui lawyer
You must have heard of the friends or family members being caught under the DUI. Definitely, Driving under Influence is not a small case. In fact most of the states ...
READ MORE
Landlord tenant law
Landlord tenant law of a dwelling house or a residential building is governed by tenancy law which applies real estate property law and contracts in leasehold estates. If you are ...
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
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
What to do when your tenant doesn't pay rent
The landlord has the right to evict the tenant especially when the tenant hasn't paid the rent on full and on time. However, the landlord has no right to evict ...
READ MORE
Do you need a real estate lawyer while buying home or other real estate?
Despite your financial worry that a lawyer's fee would cost too much for a simple decision such as buying a house, it would really be very ideal and would be ...
READ MORE
Landlord cancel agreement: when and how?
What works and what does not work in
Workers Compensation: Different illness and injuries covered
Different investment property purchasing options
Why to hire dui lawyer
Landlord tenant law
Pay taxes on time
While choosing tenants, avoid Fair Housing Complaints and
What to do when your tenant doesn’t pay
Do you need a real estate lawyer while