There are a number of considerations in building a startup other than focusing on planning and implementation of a business model, understanding the marketplace and target customers, production of products, or delivery of services. Regardless of the nature of your company, it will be bound by laws and agreements that a typical businessman may not be fully aware about.
For example, if you are thinking about having your own record company in Florida and you are not well-versed in the state’s entertainment law, legalbrains.com suggests looking for the right entertainment lawyer before you find yourself entangled in a web of legal issues.
Here are some of the common issues that startups need to look into with the help of someone in the legal profession:
• Your Business Structure
The structure (sole proprietorship, cooperative, corporation, limited liability company, or partnership) that you decide to apply in your company will have legal and tax implications.
• Business Name and Trademark
The first step is knowing the difference between a business name and a trademark. As different states have different treatments or laws when it comes to naming businesses, it is important that you are aware of these laws. Trademarks, on the other hand, are exclusive to a business and this is not only applicable within the state — infringement of trademarks can be a federal offense.
• Contracts With Business Providers and Employees
Contracts and business agreements are very important in a successful business. This is one way of protecting your company. Make sure you know your rights as an employer or client. It is also a prerequisite to understand the rights of your employees and business partners.
If you care about your business and you are committed to operating within legal requirements, you need to have a lawyer. You do not get one only after you get sued for something you overlooked or do not understand. You hire a corporate attorney suitable for your business needs to avoid legal issues and protect your brand.