When Should a Start-Up Hire a Business Law Attorney?

Are you thinking of starting your own company or business? It’s safe to assume that you’re feeling overwhelmed and lost. One of the most significant risks as a start-up business is being taken advantage of or losing out on opportunities because you’re unaware of all the ins and outs of your business’s financial affairs. So, the first step in setting up your business is ensuring you’re safe and secure in everything you do. Luckily, Kalikhman & Rayz, LLC is one of the leading law firms and offers the top business lawyers in Philadelphia, PA!

Why Is It Important for an Entrepreneur to Hire a Business Law Attorney or Other Professional before Establishing a New Business?

Hiring a business law attorney can be essential for business owners, as it provides protection and guidance on various business-related matters. Having an experienced business lawyer to consult can help new owners make the best decisions for their company, prevent potential legal issues from arising, and protect their interests when dealing with third parties. There are several situations where entrepreneurs should strongly consider hiring a business law attorney, as outlined below.

Drafting and Reviewing Contracts

When business owners need to draft or review contracts, they should consult an experienced business attorney before signing anything. This is particularly important when entering into agreements with customers, vendors, partners, and other third parties that could have long-term implications for the business. An experienced lawyer can help business owners understand the terms of a contract and provide guidance on whether or not it is advantageous to agree.

Intellectual Property Laws

Founders should also consider hiring a business law attorney when dealing with intellectual property issues. This includes filing for copyrights, patents, trademarks, and trade secrets protection. Business attorneys are well-versed in intellectual property laws and can provide their clients with valuable advice on protecting their business’s unique ideas. In addition, you’ll need a business tax lawyer if you’re looking for someone to represent you in court against the IRS. 

Business Acquisitions and Mergers

Finally, business owners should consider hiring an attorney for any business acquisition or merger. An experienced business law attorney can help business owners understand the legal implications of such a move and provide valuable guidance and advice on the best business decisions.

Top 5 Reasons You Should Hire a Business Law Attorney

  1. You’re behind on your tax returns. 
  2. You want to set up a new business.
  3. You’re undergoing an IRS tax audit.
  4. You’re dealing with IRS wage garnishments and tax liens.
  5. You need help with real estate planning.

Why Does a Small Business Need a Business Law Attorney?

Business owners often face difficult decisions when it comes to their operations. One of the most important decisions business owners can make is whether or not to hire a business law attorney to help oversee their initial filings. Hiring a business lawyer can be an excellent way for small businesses to protect their company and comply with the intricacies of the law.

A business law attorney can help newfound entrepreneurs understand different business laws and regulations and how to protect intellectual property rights. They can also provide legal advice on contracts, organizational structure, corporate compliance, business taxation, mergers and acquisitions, employment law issues, and trade secrets. A business lawyer will also be able to advise owners on the best way to avoid litigation or handle business disputes.

Business owners should consider hiring a business law attorney to help them protect their enterprise and comply with the law. A business lawyer can provide invaluable legal advice and guidance to new and experienced owners and help them make informed decisions about their companies. Hiring an experienced business attorney is an excellent way for small businesses to protect their company and ensure its success.

Which Types of Businesses Do Not Require a Business Law Attorney?

Certain types of businesses may not require a business law attorney to get started. Suppose you are interested in setting up a sole proprietorship, for example. In that case, you must register with the appropriate state or local government agency and obtain the necessary licenses and permits. In addition, partnerships can be created without the assistance of a business law attorney as long as the partnership agreement is drafted correctly and all partners understand the rights and obligations that come with the arrangement. Finally, if you want to form a limited liability company (LLC), you can obtain the paperwork online and complete it yourself without consulting an attorney. Of course, it is always best to seek legal advice when creating a business structure, as this can help ensure that all interests are adequately protected.

In addition to the types of businesses mentioned above, there are other instances where a business law attorney may not be necessary. For example, if you introduce a new product or service and do not anticipate any legal issues, you may not need to consult an attorney. Similarly, suppose you are simply adjusting or updating existing contracts or documents. In that case, it is usually possible to do this on your own without needing the assistance of a business law attorney.

Make Kalikhman & Rayz, LLC Your Trusted Business Law Attorney

At Kalikhman & Rayz, LLC, our team of experienced business law attorneys is ready to help you navigate the complex legal issues you may face as a business owner in Pennsylvania. Our local attorneys in Philadelphia, PA, have extensive knowledge of state and federal regulations and can assist with various business law services. So, whether you are forming an LLC or corporation, need assistance with contracts or leasing agreements, or need legal advice to help you make the best decisions for your business, Kalikhman & Rayz, LLC is here to help. Our team of experienced attorneys can provide the resources and guidance you need to ensure that your business complies with state and federal laws while helping you reach your goals. 

Contact us today to learn more about our business law services in Pennsylvania. We look forward to helping you reach success!