Starting your own business is no easy task. There are many things that need to be considered such as the structure of your business, your contract forms, and hiring employees. To ensure that you properly handle these important business matters, consider hiring a Reno business lawyer. It takes a band of people to get a business up and running, and having a business lawyer on your team can be the difference between your company succeeding or failing.
A Business Lawyer Can Help When You Need to:
Decide How to Structure Your Business
There are 5 types of business structures you can choose to have your company operate as. They are:
- LLC (Limited Liability Company)
- Sole Proprietor (Also called an entrepreneurship, a proprietorship, or a sole trader)
- Nonprofit (Also called a not-for-profit organization)
A business lawyer can help you decide which structure to operate under. There are other resources you can use as well, such as the Nevada Secretary of State, that will help you determine which business model is best for you. However, you’re still going to need assistance forming your entity and properly filling out and filing the necessary paperwork.
Because there are other factors to consider upon deciding on which structure to choose, it’s important that you’re fully informed before making such a decision. Some of the other factors to think about are setup fees, tax obligations, personal liabilities, ongoing expenses, and the legality of getting funding.
Purchase or Sell a Business
Should you decide later on that you want to purchase another business to expand, or want to sell your business, you’ll need the assistance of a qualified attorney. A business lawyer better understands how to value businesses, transfer permits and licenses and write acquisition and purchase agreements. And when you’re selling your business, an attorney can negotiate on your behalf and get the best value for you.
Negotiate or Draft a Contract
Writing contracts can be difficult for someone who isn’t familiar with all the state laws and regulations. But, having properly written contracts is vital to the success of your business so it’s important to have them drafted by a professional and experienced attorney. They can find problem clauses and rectify them so that your business is secure.
Business attorneys can also assist you in an instance where the opposite party breaches a contract with you and your business. They’ll aid you in how to handle the situation, and keep you informed about what you are allowed or aren’t allowed to do regarding your contract.
Reduce Your Risk as an Employer
There’s a lot that goes into being a business owner and employer. With various federal and state laws such as health and safety regulations, anti-discrimination, and hours and wages, there’s many rules your business must adhere to. In order to properly comply with these, you’ll need to put in place certain procedures, policies, training, and handbooks for your employees so you don’t violate any laws.
You’ll also need to abide by specific laws when it comes to working with independent contractors. If you choose to work with independent contractors, you should have a Reno business contract lawyer draft agreements which outline your working arrangements.
A Reno business lawyer can also help you avoid a discrimination lawsuit. For instance, while conducting interviews, you’re prohibited from asking certain questions that could be considered discriminating. A discriminating question could be, Do you have any mental or physical disabilities? Or even, Do you plan on having children in the future? If you aren’t clear of the laws that need to be followed or fail to be compliant to them, you could be facing serious penalties, fines, and litigation.
Protect Your Intellectual Property
Intellectual property is the packaging, slogans, labels, and logos that are associated with your business. Before you can trademark them, they need to be protected. This is especially important if you work in a creative industry. For instance, websites, photographs and brochures should all be copyrighted. If you’ve invented a product or have created a solution to something, you’ll need to have it patented so that no one else can copy or replicate it.
Protecting your intellectual property will also protect you and your company. A business attorney can help you file the necessary paperwork to safeguard your important assets.
Make Heather Ijames your Reno Business Lawyer
Having a lawyer on your team can help you avoid legal complications and resolve any legal conflicts. They can also guide you through the legal processes of starting your own business by preparing and filing documents, and creating sound contracts that protect you and your company. See how Heather Ijames, a top Reno, NV business attorney, can help you today by scheduling a consultation.