Starting a new business is an exciting challenge. Your focus is no doubt going to be on your new product(s) or service(s) and all of your new and potential customers. Legal questions are far from the most exciting part of the process. But engaging a business lawyer to help you plan and set up your new enterprise from the start can help you avoid significant disputes or issues down the road.

Keep reading to discover why hiring a business early in the process brings value in many ways.

Selecting the Appropriate Entity

Whether you set up your business as a partnership, corporation, limited liability company, or other legal entity can have a significant impact on important matters, including the way your business will be taxed and the nature of your and/or your business partners’ personal liability.

Structuring How the Business Will Work

If you are starting your business with others, you are going to need an agreement that outlines:

• How the business will operate
• How decisions will be made
• How profits and losses will be shared

A clear agreement from the outset helps avoid misunderstandings down the road. Even businesses that only have a single owner need to make sure they properly comply with business rules on recordkeeping and reporting. A business attorney can help you set up an organizational structure to meet these needs.

Setting Up Your Basic Contracts

Almost every business is going to have written contracts with customers and/or vendors. Working with a business lawyer can help make sure that your contracts:

• Clearly set forth expectations
• Address your business’s needs
• Provide you with sufficient legal protections

Ready to Talk to a Business Lawyer?

Jason Sapp, founder of Sapp Law firm, is a business law attorney with experience helping small and mid-sized businesses. Call now or send a message for a confidential consultation. From our location in Webster Groves, Missouri, we can help clients with business law needs in Missouri and Illinois.