A Business Lawyer Consultation from The Sterling Law Group can help you with your business plans for 2022. They make sure your aspirations and agenda meet legal requirements.
Did you know that approximately 627,000 businesses open each year in the U.S.? Or were you aware that an estimated 595,000 businesses close each year? Your dream of becoming a successful California business owner can take years to become a reality. That’s why when you plan to start a business in 2022, you need to seek legal counsel with a Roseville, California, business law attorney.
How A Business Lawyer Consultation Can Help You When You’re Ready To Start A Business
When you are planning to start a business, you need all the help you can get to increase your chances of making it a success. There are several ways a business lawyer can help you build a successful business.
Below we have discussed a few ways that a business law attorney can help you when you are planning to start a business.
1.Provide Guidance About Choosing Which Business Model You Should Use
Arguably the most important aspect of planning to start a business is determining what type of business you want to start. Luckily a lawyer can help you determine which type of business model you should use.
Some of the options you will be able to choose between include a partnership, a corporation, a limited liability company, and a sole proprietorship. A business lawyer can help you understand which business model is best suited to you.
2. Help You Choose The Right Name
Did you know that you cant simply choose any name for your business? When you choose a business name, there are many different legal guidelines that you have to adhere to. For instance, you are not allowed to use a name that a business is already using. If you do, you will be infringing on a registered trademark.
3. Help You With Protecting Your Intellectual Property
A business lawyer can help you protect your intellectual property. Before you officially start operating your business, you need to take steps to protect your intellectual property.
This could include your business name or brand name, logo, and any other part of your business that you believe should be protected by copyright before you officially open.
4. Minimize Your Risks With Business Lawyer Consultation
Since you want to start a business, you likely realize that there are many risks involved. You face fines, penalties, and litigations if you fail to comply with employment laws, safety regulations, and anti-discrimination laws. A lawyer can help mitigate some of these risks by helping you create policies, procedures, and rules.
How to Make a Business Plan Step by Step?
Constructing a business plan can be a complex and lengthy process, especially if you don’t have a clear understanding of what should be included. To begin, you’ll first need to consider the nature of your business, what its primary functions will be, and what business structure best suits these factors.
There are a variety of business formations, and each one will have different requirements for its business plan and related aspects like mission statements or ownership proportions.
Business formation options include:
- S corporations
- C corporations
- Sole proprietorships
- Limited liability companies (LLCs)
- Limited liability partnerships (LLPs)
Choosing the right structure for your business and then building your plan around it is important.
Additionally, you’ll have to consider the ownership structure of your business. Are you the sole owner of the company? Do you have a partner? Will you sell shares of your business to other individuals to collect start-up capital? Each of these questions will lead to requirements and obligations on behalf of your business during formation and future operations that need to be accounted for.
After you have chosen what your business structure will be, your business plan will need to cover what your intended products or services are and the basic processes through which you will accomplish them. Constructing your business plan will help to frame the potential profitability of your business and also identify the many requirements that will need to be put into place for it to function as intended.
What Must An Entrepreneur Do After Creating a Business Plan?
A business plan is only a template for a business concept, and to turn a plan into a business, there are a number of steps, including:
- Legal formation and registration of your business
- The drafting and execution of essential business agreements, like partnership agreements, supplier contracts, etc.
- Applying for financing or arranging for investment-based funding
- Finding an office space and reviewing/signing leases
- Drafting contracts for eventual employees
- Hiring employees and arranging for the terms of their employment
There are seemingly endless steps that are all essential after creating a business plan, and missing one could lead to issues for your business down the line. Working with an experienced business attorney provides you with the benefit of their experience when starting your operations.
Why Do Some Business Plans Fail?
Many businesses fail within the first few months – or the first few years – of operations. This can generally be traced back to an inaccurate or unrealistic business plan that guided the business from conception right into failure. Building a viable business plan is essential for the long-term survival and success of your business.
You might not think that working with an attorney is essential to starting your business. While this can be true, having an experienced professional who knows what steps you must take, what forms you must file, and what boxes you must check can make the difference between ongoing success or the prospect of eventual failure.
For guidance on putting together your business plan, consider working with The Sterling Law Group and schedule a consultation to discuss options.
When You Are Ready To Make Your Business Dreams A Reality Speak With A Roseville Business Law Attorney Today
The legal issues are the first factor in why many businesses are shut down. Do you want to avoid this scenario? If so, you should consider hiring a business lawyer from Roseville, California. A business attorney can handle all your business legal proceedings and stop this from happening to you.
If you are in Roseville and would like to speak to a business attorney about starting your business, the lawyers at The Sterling Law Group can be of assistance. We have the knowledge required to help you start your business on the right foot. Should you want to speak with one of our committed expert attorneys, you can call us at (916) 790-0852 or contact us here.