Starting a new business is stressful. There are a lot of little tasks that need completing, and there are times you might feel like you’re running in thousands of different directions. If you’re lucky, you have enough funds to hire contractors to handle some aspects of your business, but if you don’t have a lot of funds outsourcing tasks might not be an option. However, it’s extremely important to put some money back to hire a good business lawyer. In fact, you almost always need a good lawyer to do these things.
Trademarks
Every business has intellectual property, most of which need to be trademarked for protection. If you don’t have things, such as your business logo, taglines, catchphrases, and your business name, properly registered and trademarked, other people could use them without consequences. This is why you need to hire a good business lawyer from a reputable firm, such as McQuarrie, to get make sure everything that needs to be registered and trademarked is handled properly.
Software Licenses
If you have software designed specifically for your company, it needs to be licensed to keep your competitors from stealing it. A business lawyer can help you determine what type of software needs to be licensed for protection and help you file the proper paperwork to complete the process.
Review Contracts
Contract review is one of the most important things your business lawyer can handle. Before you even get your business up and running, you need to have any client contracts needed written out and reviewed by your lawyer. He or she will be able to tell you if you’ve missed any important wording or if there are any loopholes in the contract that could cause you to lose money. Additionally, you business lawyer should also review any contracts sent to you before you sign them. This includes contracts sent to you from subcontractors and clients, as well as contracts for things such as leasing the building for your business.
Company Formation
Even forming your company requires a plethora of paperwork and legal know how. If you plan to incorporate or form an LLC, turning to a lawyer for help is advisable. Not only will your business lawyer know how to complete the process, he or she can advise you as to what type of business structure you should use and why. After discussing options with your lawyer, you need to review the suggestions options with your accountant to determine whether one of the choices available for you has less of an impact on your finances in the long run.
Creating Partnerships
It’s common for small business owners to collaborate with other small business owners on specific projects and/or ideas. To do this and avoid any confusion or conflicts in the long run, you need to form a general partnership. While the overall process is as simple as signing a contract, it’s important to have your business lawyer review the contract before it’s signed. This way, you know that the deal your making is a fair one.
When you first start a business, you might not be worried about things, such as lawsuits, but that doesn’t mean you don’t need a business lawyer. In fact, it’s probably more important for you to have a good business lawyer in the beginning because all of the paperwork needed to make your business legit can easily get confusing. Your business needs a good foundation to survive, and to create one, you need a business lawyer to help you cross all your “T’s” and dot all your “I’s.”