Launching your own business is an exciting adventure and, for many entrepreneurs, a life-long dream come true. However, it may also involve some legal complexities which can threaten the long-term health of your new company before you even begin if done handled appropriately when the business is launched.  Below are a few reasons to contact a business law attorney before starting your new company.

Why Do You Need a Business Lawyer to Start a Company?

1. Select the Type of Entity that Your New Company Will Be

Whether you choose a sole proprietorship, a corporation, a limited liability company (LLC), or a partnership can have a dramatic impact on the company’s management, its tax obligations, its legal liability, and possibilities for future expansion. The form you choose depends on a wide range of factors, including the industry you are in, how many people are involved, and how much you intend to grow. An attorney can help you consider the pros and cons of the different forms that your new business could take.  A tax professional should be consulted to fully understand the tax consequences of each type of business entity.  

2. Review Contracts

Contracts are the lifeblood of the business world, outlining your legal rights and responsibilities with vendors, landlords, clients, and partners. Having a business law attorney write and review contracts will ensure that every agreement you sign protects your interests.

3. Fulfill Your Legal Obligations

Depending on your industry and local laws, you may need to register with the state, obtain operating permits, and apply for specific licenses. Your lawyer will be able to explain the relevant requirements and ensure you are compliant to avoid potentially expensive legal issues later on.

4. Prevent Intellectual Property Suits

Branding is an essential element of any company, so many businesses aggressively defend their intellectual property. Many business law attorneys work with intellectual property experts who will conduct research to ensure that the name and logo you wish to use are not registered to another company. Their insight can give you a chance to correct any issues before the launch, preventing expensive lawsuits that could cripple your business.
 

If you’are starting a new business in Alaska, the legal team at Burglin & Doxey, PC will help you get started on the right foot. With over 40 years of combined legal experience, they proudly served clients throughout the Fairbanks area and outlying communities, delivering effective legal advice and personal attention to startups and established companies alike. Call (907) 456-4020 or visit their website to speak with a business law attorney today.