Starting a business on your own is both exciting and stressful. Before you can open your doors, you need to make sure your new business is set up for success. While it’s possible to lay the groundwork yourself, doing so poses a number of challenges and puts you at risk of making mistakes that you could avoid by working with an experienced New York business attorney.
If you’re on the fence about working with an attorney before you launch your new company, it’s helpful to see how they may be able to help you. Here are a few of the top benefits of working with a business formation and business law attorney.
They Can Review and Draft Contracts
No matter what industry you’re operating in, your business will have at least a handful of contracts that outline the different obligations you, your employees, and your vendors have as they pertain to your business. Creating those contracts and making sure that you don’t introduce unenforceable terms or increase your liability is difficult if you’ve never done it before.
An attorney will be able to review any contracts you’re asked to sign and can help you draft fully enforceable contracts as needed. This can save you time and stress as you’re getting your business off the ground.
They Can Help With Registration
You may need to register your business with the state and various governing organizations before you can open your doors. If you don’t register, you may risk fines or have to close your doors until you get everything straightened out. Any closure or fines could put a strain on your business and your budget.
Your attorney will be able to help you identify the organizations you need to register with and can help you complete any necessary paperwork. Their assistance reduces the risk of errors that could slow down your ability to open your doors, too.
They Can Help You Choose the Right Formation
There are multiple business formation types to choose from, and each one offers distinct benefits and challenges. Choosing the right one can make it easier for your business to run efficiently and choosing the wrong one could end up costing you in the long run. A New York business law attorney can help you figure out the best formation for your business based on your current scope and long-term goals. They’ll take the guesswork out of it.
They Can Help Protect Your Intellectual Property
If your business involves the creation and use of proprietary equipment, programs, products, or ideas, you’ll want to be able to protect that property. Without the right terms and clauses in your contracts, your employees could use that proprietary information at new jobs if they leave your company. Worse, they could aid your competitors by offering them information about the methods you use to be more successful.
Your New York business law attorney will be able to make sure your intellectual property is legally protected at all times.
They May Help Prevent Future Legal Issues
Without proper planning, research, and due diligence, your business could get into future legal trouble. When you work with an attorney from the very beginning, you’ll dramatically reduce your risk of getting involved in future disputes as long as you uphold your agreements and operate your business in full compliance of any industry regulations and legal expectations.
Speak With a New York Business Law Attorney
If you’re thinking of starting a business in the Empire State, making sure your organization is set up in a way that benefits you in the long run is always a great place to start. And the easiest way to do that is to work with an experienced New York business law attorney from the very beginning. Contact Gold Law Firm today to schedule a consultation.