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
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
How to get workers compensation lawyer
For those of you who are in job need to have a clear idea about what you as an employee are liable for. And by this aspect it does not ...
READ MORE
Defenses: Most often raised to drunk driving charges?
Drunk Driving is the act where in the driver drives the vehicle under the influence of alcohol or drugs. This is to such an extent that the person does not ...
READ MORE
Understand the DUI police report
The dui police report you receive contains the evidences against you in the DUI case. These are the evidences that you must overcome in the trial. The report will have the ...
READ MORE
Rules for Landlord while Evicting a Tenant
To file tenant eviction case against a tenant, make sure you have served a written notice, especially because it is part of the termination statute of the state. If the ...
READ MORE
Criminal Charges
Criminal law covers crimes, prosecution and defense. According to the rules and statutes written by Congress and state legislators, dealing with any criminal activity that causes harm to the general ...
READ MORE
Basics of buying a house
Real estate transactions can be intimidating at times. You might encounter pitfalls that will make you lose money as you buy your first house. This is why hiring an attorney ...
READ MORE
Car Accidents and Law
Car injuries signify the majority of accidental injuries statements in the United States. According to the National Road Traffic Safety Management, a car incident occurs in the U.S. every ten seconds ...
READ MORE
Landlord duties
If you’re a new landlord you have to know that being one is no simple matter. Aside from the identity of you tenants, you also have to be aware of ...
READ MORE
Open container violation
While driving your car, you are not allowed to have any alcohol containers, such as bottles and cans, that have been opened, having broken seal, nor had its content partially ...
READ MORE
Contracts of lease
How to get workers compensation lawyer
Defenses: Most often raised to drunk driving charges?
Understand the DUI police report
Rules for landlord while tenant eviction
Criminal Charges
Basics of buying a house
Car Accidents and Law
Landlord duties
Open container violation