Does your business lawyer really know the needs of small businesses?
You’ve made the leap and are now starting a small business of your own, or maybe you’re about to take this big step. Do you have legal help and guidance to stay on track? Have you found the best business attorney to advise you on what it takes to be successful? Without the help of a qualified attorney, you may find yourself overwhelmed in just a few months.
Some small business owners or potential entrepreneurs wonder if they need to spend time and money to find a lawyer this early in the game. It may seem simple to try to handle things on your own, but it gets complicated quickly. The problem is that there are many problems with any new business and these can only be answered by a competent business attorney.
All businesses operate in accordance with the laws of the nation and state in which they are located. Some of the laws can be very complicated and difficult to navigate and this can cost you a lot of money. This additional money could have been saved if you had relied on the expert advice of a business attorney. When you start any type of business venture, you should familiarize yourself with the laws. This can be handled by a business attorney, freeing you from worry. This professional can explain the different laws, restrictions and codes and then show you the best options from him.
A knowledgeable business attorney can point out the differences between how a business is structured. He’ll help you figure out if an S corporation, LLC, partnership, or some other business structure is best for your small business starting out. This will save you time, hassle and money.
It is common practice for many small businesses to look for high-powered lawyers dealing with big business to be their “ace in the hole.” This may not be the best way to choose a business attorney to help you start your own small business. The cost can be prohibitive and these attorneys may not have the experience to handle special issues that affect small businesses.
Anyone just starting to get established in today’s uncertain business market needs the best advice they can find. This means knowing if that business lawyer is adequately trained in small business matters. There is a big difference between the legal matters of large corporations and the types of matters that concern a small business.
Always research your options before making a final decision on which business attorney to work with. Don’t be afraid to ask him direct questions related to his experience handling small business matters. A skilled and competent attorney will be happy to answer your questions in detail.
Check the credentials of any business attorney you are considering. Ask other business owners for the names of potential attorneys you can interview. You can also check with the Bar Association and legal reference organizations to find out the names of attorneys with successful experience in small business matters.
You can also prepare a list of terms like “sole proprietorship” or copy some information on tax and small business issues. Ask the business attorney you are interviewing to define these terms for you. Find out their level of experience with small businesses before committing to a binding contract.