When do companies need business formation attorneys?
May 17, 2022at7:00 AM
If you are starting a new business, you already have enough on your plate. Whether this is your first business or you’re a seasoned veteran, starting a business is always stressful and requires considerable tailored legal expertise. Fortunately, business formation attorneys can help. However, it is difficult to know when you need an attorney during this process. Luckily, at Savvy Esquires, we can help. We offer affordable, effective, and streamlined legal services to prime entrepreneurs for success.
Here’s when you need a business formation lawyer:
When deciding on your business structure
Business formation attorneys can be a great asset when deciding on your business structure. Firstly, there are different types of entities to choose from.
Understanding what ownership structure best accommodates your needs is complicated and depends on the type of business you have, the number of owners, and even financing. Plus, deciding on a business structure requires answering questions about:
Potential legal structures
Understanding the implication of all of these requires a lawyer’s thorough understanding of laws and regulations to make the best decision for your new business.
If you need a business formation lawyer to decide on a business structure, at Savvy Esquires, we are an unrivaled solution.
When forming your business entity
Many people require business formation attorneys when forming their business entity. This part of the process requires considerable paperwork that you need extensive law expertise to navigate and file correctly. Forming your business entity requires creating or filing:
Certificates of incorporation
Articles of organization
Certificates of formation
Moreover, if you decide to form an LLC or corporation, you must file organizational documents with the state. You also need to create an operating agreement, which are bylaws that detail essential rules and procedures for your company.
Operating agreements also detail member rights and responsibilities. Writing these bylaws requires a business formation lawyer's guidance because it is complicated and mired in legal jargon, and using precise language is critical.
Still, while you can consider filing and writing these agreements and documents through online legal services, lawyers construct documents tailored to your needs, which is invaluable to your success.
If you need a lawyer to help form your business entity, at Savvy Esquires, we can ensure all documents are filed correctly with clear, compliant language that accommodates all your needs.
When operating your business
After forming your business entity, business formation attorneys can help establish crucial operational protocols, procedures, and more.
We advise retaining your business formation lawyer during the early operating stages. You will need to create contracts for agreements, services, or products you offer, along with most other aspects of your business, from employee contracts to vendor contracts.
Writing contracts requires extensive legal experience and expertise, and failing to have a lawyer tailor their contract to your company exposes you to severe liabilities. A business formation attorney can devise bullet-proof contracts for agreements your organization enters.
If you have a physical location, you also need to review lease documents, which requires a lawyer’s keen eye. Plus, when operating, you need to ensure you’re compliant with all regulations, which is difficult and daunting to determine if you’re already running a business.
A lawyer will ensure you comply with regulations and have all permits, licenses, insurances, and more to operate and avoid fines or worse.
Schedule an appointment now!
If you are starting a business, considering a business formation attorney is critical to ensuring you are doing everything right and positioning your new company for an auspicious start. Fortunately, at Savvy Esquires, we offer affordable, streamlined, tailored solutions that help entrepreneurs enter their respective fields with a competitive advantage. Schedule an appointment now to get started!