You spent a lot of time preparing and thinking about starting your small business. Now you have decided that it is time to pull the trigger and start your business. The good news is the hard part is over, you have decided to start your business, and you have a general idea for your business plan. Now you need to determine whether you need to hire a lawyer or not to help you start your small business.
Hiring a lawyer can help you avoid making legal mistakes that could be costly, stressful, and harmful to your business. However, it is possible to start a small business without the help of a lawyer. We will discuss some of the factors you may want to consider when deciding whether to hire an attorney.
Consider the Needs of Your Business
Every business is unique, and whether you need an attorney to start a business largely depends on what type of business you are creating. In most cases, the simpler your business, the less likely you are to need an attorney. There are several different types of businesses.
Do I Need a Lawyer to Start a Sole Proprietorship?
Sole proprietorships are the simplest types of business that do not require you to register your business with the state. If you would like a sole proprietorship, you probably do not need an attorney to start this business. However, you will need a business license to ensure that you are complying with all local regulations and tax laws.
Do I Need a Lawyer to Start an LLC or a Corporation?
Partnerships and LLCs are not as complex as corporations, but they require a business owner to apply for their business to be approved. Documents need to be prepared, such as an LLC operating agreement or a partnership agreement. In some states, you will register online using an online service to start your business. Even if this is true, it can still be a good idea to discuss your business with an attorney if it is complicated to any extent. An attorney can help you file the paperwork correctly, ensuring that IT addresses the unique needs of your business.
Corporations and S corporations also need to register with the state. You will need to prepare bylaws and other documents, as corporations have a more complicated ownership structure. If you are forming a corporation, you will almost always need the assistance of an attorney. An attorney can help you determine whether you would like to be an S corp and which type of tax structure will most benefit you.
Factors That Show You Need an Attorney to Start Your Small Business
Working with an attorney can be helpful if you would not like to navigate all of the forms, requirements, and legal documents you will need to start your business. An attorney can navigate and prepare all of the incorporation documents to form a corporation, for example. For many people, it is worth the cost to have the assurance that they are starting up their business correctly, which an attorney can provide you.
Many small-business owners are short on time and work with an attorney who can help them focus on other aspects of their business. If you are a new business owner, you may need to focus on hiring employees, getting new customers, and advertising. Additionally, an attorney can help you with more than just starting your business.
Your attorney can help you trademark your name, discuss potential legal structures, and renew lease documents. Your attorney can also help you with any employment issues that arise. Finally, online legal forms do not always protect you. They may be more affordable, but no business is one-size-fits-all. Working with an attorney to review your documents can be helpful.
Factors That Show You Do Not Need an Attorney for a Business Startup
On the other hand, there are reasons why you may not want to hire an attorney to start your business. You can save a lot of money by not working with an attorney, and you will learn more from the process of doing things yourself. Some of the forms for starting a business are more simple than you might think, such as filing the Articles of Incorporation for an LLC. Doing so is a simple task that most people can do for themselves.
Additionally, there are many different resources for free that you can use. State and local governments may help you complete the forms, and there are business services that will assist. All of the forms you need on the internet may not be advisable, so it is possible to start a business from scratch by yourself completely.
The Benefits of Hiring a Lawyer to Start a Small Business
Sometimes people are not aware of all the benefits of working with an attorney to start your small business. Attorneys can help you with all of the following:
- Ensuring that you comply with all of the state, local, and federal government regulations
- Reducing your risk to liability by establishing a set of procedures that will limit your risk
- An attorney can help you define your business terms of service and draft contracts that will reduce your liability should someone bring a lawsuit against your company
- An attorney can help you draft legal documents you will need across your organization, such as employment contracts, client contracts, and more
- An attorney can help you ensure that you pay all the taxes your business cells and lower the process of ability that you will be liable for business taxes
Contact an Experienced Georgia Business Attorney Today
Are you ready to start a small business, but you aren’t sure where to begin? If so, InPrime Legal is here to help. We offer affordable legal plans for clients in Georgia and throughout the United States. Contact us today to learn more about our legal services.