Four Questions for New Business Owners to Ask a Business Attorney
Business attorneys are a valuable resource for you and your business, ready with a wealth of legal information and advice to help protect you and your best interests. This is especially true for individuals hoping to start businesses, as a relationship with your business lawyer gives you the opportunity to have guidance from the very conception of your business and throughout your years of work. Before even starting your business, it’s wise to consider an appointment with a business attorney who can field any questions you might have. Here are some important questions to get you started:
1 – What business type would most benefit you and provide the most protection?
In answering this question, an important consideration will be whether you are ready to act as the sole person responsible for your business, or will be entering into business with another individual. Just as important, if not more, is the question of what structure your business will take. Whether you’re looking into starting a corporation, a sole proprietorship, a non-profit, or one of the many other options, it’s essential to have a legal professional to discuss your options with and determine what will best suit you. You’ll also discover what legal aspects and responsibilities will come with the choice.
2 – What intellectual property should you protect and what copyrights and trademarks should you pursue to achieve the level of protection that you need?
Businesses have the right to protect their names, logos, slogans, and sometimes even their packaging. Trademarking your business name is a great starting point, but it’s also important to consider protecting your image and branding by taking steps to seek trademarks on these other aspects of your business. You can also obtain copyrights for photography used, any original writing you publish, or even your website! Furthermore, it may be wise to seek out patents for any original products or designs that you produce. A knowledgeable intellectual property lawyer can help you with all of these matters.
3 – What risks will you be facing and how can you minimize them?
With running a business comes a variety of risks, including, but not limited to, client interactions, cybersecurity and information protection, vendor and property contracts, and employee rights and care. Risks are personal to a business, so it’s important that you have a business attorney look over and fully lay out what you will be facing in your business. From there, the two of you can work out how to counteract your risks with measures and contingency plans as well as focusing on minimizing any risk factors present.
4 – What contracts will your business need and what should you look for in them?
Between interactions with employees, clients, other businesses, vendors, and landlords, the chances are that your business will enter into a wide number of contracts. Now, whether you’re writing them up yourself or signing one that was written by another party, it’s crucial that you have a business attorney review them to ensure that your interests are protected. Business attorneys can seek out contract faults, help you to protect your business, and put in place terms to instill mutually beneficial relationships.
Whether you’re looking to start a business or you’re years into your operation, your business attorney should be held as valued counsel to help minimize and protect your business from risks– give me a call to meet and learn more.
The information presented here is for general educational purposes only. It does not constitute legal advice and does not create an attorney-client relationship.