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
Why Should a Landlord Hire a Lawyer?
If you have some real estate properties on rent, you may not need a staff lawyer, but it would be best to consult a lawyer constantly. Just like any other ...
READ MORE
How copyright work
The term copyright is not a novel term. However still here are many who have no idea about how copyright work? If you are one of those who are in ...
READ MORE
Legal help in Short Sale or Deed in Lieu of Foreclosure
A short sale and a deed in Lieu of Foreclosure are the best options if you want to give your home up, but don’t want foreclosure. These options let you ...
READ MORE
Landlord–tenant law
Landlord–tenant law is an aspect of the typical law that inform the privileges and responsibilities of residence owners and renters. It contains components of both actual estate law (specifically conveyances) ...
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
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
Divorce Legal Services
Divorce formally dissolves the legal marriage. The married couples do not have the constitutional rights to proceed for the divorce but the state laws permit the couples to divorce in ...
READ MORE
Power of Attorney
Power of Attorney is a lawful document which grants you the legal right to appoint another individual to act on your behalf and manage your financial affairs, property or health ...
READ MORE
DWI: Driving while intoxicated
Operating  or driving a motor vehicle while under the influence of alcohol or drugs that impair your driving skills and perception is a crime in the United States which is ...
READ MORE
declaring yourself bankrupt?
When you are neck deep in your debts and there are creditor’s threats looming and lurking around ready to take your assets and leave you with nothing, you may need ...
READ MORE
Why Should a Landlord Hire a Lawyer?
How copyright work
Legal help in Short Sale or Deed in
Landlord–tenant law
What to do when your tenant doesn’t pay
Workers Compensation: Different illness and injuries covered
Appearing in Divorce Court
Power of Attorney
DWI: Driving while intoxicated
declaring yourself bankrupt?