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
The landlord’s right in evict tenants
Every state in US has the unique Rent Control Acts and this is to be protected in the right manner surely. There should indeed be a valid reason behind everything ...
READ MORE
Tenant Rights and responsibilities
Have you recently moved out and you’ve decided to move again into a rented residential unit? Did you know that the tenant rights made by the Federal and State bodies ...
READ MORE
Common Commercial Lease Terms
The commercial lease clauses are the written and binding agreement on the real estate you will rent for your business. It will help you avoid trap and negotiate for bargains ...
READ MORE
Basics for Sole Proprietorship
Are you a writer or a photographer? Are you an individual who takes on jobs on a contract basis? Are you a freelance caterer who gets paid per booking? Or ...
READ MORE
DUI:Driving under the influence
Dui (DUI), generating while intoxicated (DWI), drunk(en) generating, drink generating, working under the impact, generating under the impact, or impaired generating is the criminal activity of generating a automobile with ...
READ MORE
Help with divorce cost
Divorce is anyway not a very pleasant experience. And when you consider the emotional, physical and financial trauma two of them undergo, it is really tedious to deal with it. ...
READ MORE
Dealing with your insurance company
If your house gets damaged by fire or other disasters, you can look to your insurance company for reimbursements. But your success of getting relief from your insurance company may ...
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
Procedures when a law enforcement officer has reason to suspect a driver is intoxicated
Dui (DUI) means operating a automobile after consuming liquor or drugs that have affected a person's mental or engine skills. In most declares, a person will be considered "impaired" if ...
READ MORE
The landlord’s right in evict tenants
Tenant Rights and responsibilities
Common Commercial Lease Terms
Basics for Sole Proprietorship
DUI:Driving under the influence
Help with divorce cost
Dealing with your insurance company
Power of Attorney
Procedures after DUI
Contact Affordable Lawyer