Starting a small business can be difficult if you’re not familiar with the process. There are often legal hoops you need to jump through to ensure that you’re signing on the right dotted line when the time comes. At Savvy Esquires, we can help small business owners with many parts of setting up their business. Read our guide below for five things a small business attorney can do to help you.
Establish a structure to limit liability
The level of liability you and your business partners take on with your business depends on the structure you set up from the beginning. Your attorney will help you decide which works best for you and your partner if you have one or more. A small business attorney will lay out the pros and cons of each business type that fits you.
Finding applicable tax breaks
Taxes as a business owner can be complicated. There are plenty of ways you can write off some expenses, but you also need to make sure you’re writing off the wrong expenses. Ensuring that you pay the right amount of taxes each year will make it, so you’re maximizing your profits without having backed taxes years down the road.
Picking a business name
Naming anything can be challenging. Picking a name for your business is no different because you want it to be memorable while telling what you do. Unfortunately, some original ideas aren’t as original as you would think because you’ll find somebody has come up with the same idea for their business. Your attorney can perform the necessary research to find out whether or not the name you want is already in use as a registered trademark. Avoiding a trademarked name can save you a major legal headache in the future.
Obtaining intellectual property
Beyond choosing the name for your business, there will be various assets that you need to use for branding and doing business day to day. Assets can include your company logo, graphics, processes, equipment, and even a catchphrase or motto for your business. You’re going to want to trademark each, so your competitors or other businesses don’t take them and use them without permission. Your attorney will help you file for patents for proprietary designs, recipes, and more so you can claim ownership of them. You need something that sets you apart from your competition, and your intellectual property will go a long way to doing so.
If you’re going to operate a business in the service industry, you’re going to be dealing with a lot of contracts. Contracts are a way to protect you and your clients from unexpected circumstances. Your small business attorney can help you put contingencies in your contracts to ensure that you have agreements with your clients that will protect you financially. For instance, service contracts that are guaranteed for an established period of time can include a buy-out clause to ensure that you still get your money even if you’re no longer providing services for the client.
Reach out to schedule an appointment
You don’t have to try to set up your business on your own. Get in touch with our team at Savvy Esquires to hire a small business attorney to help you get started. Your attorney can help you verify that you, your business, and your assets are financially protected. Give us a call at 646-256-2484 or send an email to firstname.lastname@example.org to schedule your consultation. You can also use our calendar tool to book directly with a member of our team.