During the hobby stage — the period in which baking cookies, for example, is fun for all and a cool way to earn extra cash in donations — there is no concern for crossing all Ts or dotting any I’s. After all, it’s only a hobby. But now that the cookies are selling, well, like hotcakes, transitioning from a hobby into a full-fledged business is a given.
If you are reading this, you’ve been there, in the throes of a hobby that should now be run like a company. You were probably told that you ought to be in business as well. My response? Do it. Take the plunge, especially if you have a product that people would pay for. To reassure, it wouldn’t hurt to reach out to a business attorney as he or she could help you realize your potential as a business owner.
In fact, your first step in starting a business should start with a consultation with a business attorney.Perhaps you are still unsure as to the benefit of consulting with a business attorney at the outset.
The following is a list of some discussions that a business attorney will raise with you:
A lawyer understands the language that is often overlooked in service agreements, freelancing contracts, real estate leases and other important paperwork you’ll need to read and sign to get your business going. In fact, he or she will prepare the documents and explain what each paragraph entails. A business attorney will also help you construct contracts, and will hopefully keep you and the other party out of court.
Earlier, I discussed the types of businesses available for your choosing. It would still be a great idea to consult with an attorney to help you decide which business type works best for your company and plans — LLC, sole proprietorship, corporation or partnership.
Organizing your business is a task that lawyers have years of experience in, so trust their advice. They have a vested interest in giving you the right information.
Brick and mortar or an online retailer?
Understanding how commercial leases work is a job in itself; the laws are different from residential property. Even with an agreement from the property owner, you still should have a business attorney review the contract. This is to make sure the paperwork results in a mutual agreement for you and for the property owner.
Did you know that an attorney is authorized to get your business registered with the state and country so that you’ll achieve a good standing for tax purposes? An accountant will help you with financial matters, but an attorney will put your mind at ease by helping you with other aspects of launching and growing our business.
Many businesses are fully digitized — that is, entrepreneurship is taking place from the comforts of home now more than ever, thanks to modern technology and the internet. Anyone relying on devices to run a business, such as a laptop, should consult an attorney to ensure their intellectual property is safe from plagiarism.Copyright infringement is real and has caused many business owners to lose their digital property with no hopes of ever retrieving it. Click To Tweet
Even if your business has a brick-and-mortar location, a business attorney will be able to assist you with securing safeguards to help keep your website and social media content rightfully yours.
Setting up your business does not have to be as overwhelming as you may think. An attorney has the skills needed to help you get off to a good start by preparing the right documents and advising you on strategies that work best for your particular line of work.
While no solution is 100 percent guaranteed, the best way to start out as a business owner is to trust the expertise of an attorney. Choose an attorney that is equipped to help you leave no stone unturned and prepare you for worst case scenarios. We are happy to help you get on the road to business ownership, without any speed bumps, potholes, nor dead ends. Give us a call today.