You’re building a new company, and you understand much of what you need to get it up and running. In a lot of ways, you’re satisfied with how things are going, and you believe your contracts and paperwork are all filed away correctly.
You may not yet have thought about getting a business attorney or adding them to your team, but now is a good time to consider it. While many business owners wait to work with an attorney and only call them when they run into trouble, you can prevent issues and be sure you have someone on your side in advance if you talk to one now.
You should have legal support for your business
There are several times when you should have legal support for your business, such as when you:
- Are creating a limited liability company or partnership that requires an agreement
- Are putting together a business plan
- Hire a new employee
- Hire independent contractors
- Write contracts for third-party vendors
- Have an audit by the Internal Revenue Service
- Need to apply for licenses or permits for your business
- Need to get an employer identification number (EIN)
- Want to switch the business entity to a different structure
- Need to buy a domain name
During each of these times, it’s appropriate to talk to an attorney to make sure you’re taking steps that follow the law. These and other issues that your business will run into could negatively influence your business if they are not handled correctly.
Do I have to have a business attorney?
There is no obligation to work with an attorney when you’re setting up your business, but there is always a risk that you will run into complex situations that require some support. Just talking to an attorney in advance and getting to know who you’d like to work with can make it easier to handle problems if they arise in the future. Working with someone who understands what it takes to run a business and protect you against liability is helpful and may help you prevent big problems that may otherwise catch you off guard.