If you want to start your business on the right foot and protect it from potential legal issues in the future, there are certain documents that you need to draft. Business law is complicated, but the team at Gary Robert, Attorney at Law, A Law Corporation, in Lahaina, HI, will help. Here are just a few critical documents that your new business needs in order to be a legitimate operation:

5 Documents Your New Business Needs to Thrive

A Business Plan

You may already have a detailed business plan in your head, but drafting it on paper is the only way to organize your thoughts and ensure you address both big picture scenarios and minor details that affect everyday operations.

An Operating Agreement

If you are going into business with one or more partners, you will need an operating agreement. This includes all bylaws that partners must follow should any issues or disagreements arise.

A Business License

Depending on your industry and location, you may need certain permits in order to do business. You will also need a business license and your own federal tax ID. A local business law attorney will ensure you have all of the required permits and licenses to sell your products or services before you open up shop.

An Employee Manual

If you plan on hiring at least one employee, you should draft an employee manual that includes all standard operating procedures and employee policies. By having employees sign a document stating they have read the manual from cover to cover upon hiring, you can protect yourself from certain legal issues related to their employment.

A Financial Packet

If your company needs capital from third parties, you should prepare a packet that contains all relevant financial documents, including agreements, and growth projections.

A lot of preparation goes into opening a business, regardless of its size or industry. If you are in the early stages of starting your own company, turn to the team at Gary Robert, Attorney at Law, A Law Corporation, in Lahaina, HI. Visit their website to learn more about this law firm, or call (808) 667-7741 to schedule a consultation.