An Orange County Business Attorney Highlights Basic Legal Concerns for Startups
October 3, 2016
It seems like more people than ever before are becoming entrepreneurs. This proliferation of startups results from a number of factors such as the economic downturn of a few years ago. Becoming your own boss can certainly be a heady feeling. Unfortunately, the process can also be loaded with headaches. Among these are a myriad of legal concerns that you may never have had to think about before. Without the advice of a trusted Orange County business attorney, your new venture could be doomed before it starts.
However, if you work with a business attorney from the beginning, you’ll be able to avoid many of the pitfalls that prove to be destructive for others. Ask the California business lawyers at Fitzgerald Yap Kreditor to help you address these legal considerations for startups.
Choosing a Structure
A sole proprietorship may sound like a hassle-free, inexpensive choice, but there can be extremely good reasons to look into incorporation instead. You may receive tax benefits for doing so as well as gain protection for your personal assets. When you’re choosing a structure, it makes sense to research what sorts of licenses or permits may be required for you to legally operate your business.
Drafting Contracts
It would be nice if everything in the business world could be agreed to with a handshake. Unfortunately, most business deals aren’t that straightforward. Even if you’re going into business with your brother or your best friend, it’s essential that you have written contracts drafted that cover everything from the rights and responsibilities of the partners to how a partner can leave the company. You’ll also need contracts for suppliers, vendors, and customers.
Be a Responsible Employer
If you have never been an employer before, you may be perplexed by the number of state and federal laws that regulate dealings with employees. Knowing about anti-discrimination and wage and hour laws is fundamental to being a good employer. Becoming familiar with these and related laws will help to keep your workers happy and may also keep you out of the courtroom.
New entrepreneurs have numerous concerns that claim their time and attention. However, legal issues have to be among the first that are decided because they can have an enormous impact on all other areas of the business. Contact an Orange County business attorney at Fitzgerald Yap Kreditor by calling (949) 788-8900.
