You may not consider all the legal issues that you may face when you’re a small business owner. When a small business opens their doors, whether you have a home based business, do yard work on the weekends or own a consignment shop, if you are making money, your will need a small business attorney. And if you’re in need of one, no matter the location, whether it’s a San Francisco, Phoenix or Denver business attorney, there are some things you should know.
When the doors are opened for business, a lawyer’s services are needed. You will definitely want to have these services if you are going to have a partner to make sure everyone is protect and all the paperwork is in place to help define the partnership. Also, even a small business should be incorporated. While this complicates the tax and accounting situations a bit, but being incorporated, whether as an INC or a LLC provides protections for the business owners.
These protections include being sued for liability issues. As an example, if a patron slips and falls in your place of business, they would only be able to sue the corporation. And because the business itself is seen as a “legal person”, this prevents the owner from being sued. These are things that business attorneys understand as a part of their daily work that the average small business owner may not have an inkling of.
It is good to talk to a small business attorney for the best way to start a small business instead of just diving in head first. This not only provides those protections outlined above but enables you to prevent problems later. Not only with liability issues, but insurance, making sure all of the accounting and payroll systems are in place, ensuring contracts and other paperwork is in place and making sure the business is set up to handle taxes properly.
It isn’t too late if your small business is already open to incorporate. Check with a small business attorney and see what kinds of protections you as a small business owner will enjoy by incorporating. If you have a business that caters directly to the public or is a partnership then there are legal ramifications that you may not have considered and that a small business attorney can guide you through. Taking care of your small business with the help of a lawyer gives you the opportunity to grow that business for your future.