Starting a business is not as easy as putting up an "Open" sign in the door. It takes specific legal filings, state and federal registration, the creation of a partner or shareholder agreement, and possibly submitting an application for licenses and permits. Due to the complexities involved, it is important to seek legal advice before starting the process.
An attorney in the Bethesda area can help you decide what type of business entity you should choose. For example, should the company be a sole proprietorship, a partnership or a corporation. Since the laws that surround each of these entities are different, legal advice can help you determine which option is best for you. Read further for reasons why you should consult with an attorney before starting a new business.
Business litigation attorneys understand contracts. They know how to draft them so that you can avoid future court battles over agreements between your business and vendors, customers and even other owners.
Applying for the right permits
An attorney can also advise you on what permits and licensing your company needs in order to operate in Maryland. Whether you need permits or not will depend primarily on the type of services or products you will provide.
State and federal laws govern many industries. You lawyer will help you stay in compliance so that you are not hit with fines for violations.
Raising money is an important part of running a company. There are several different ways you can raise capital for your business, however the type of company you are operating often dictates these methods. Your attorney will help you determine what you can do to legally raise capital for your organization.
Business owners are often concerned that someone will file a lawsuit against the company. A business attorney will help you take the necessary steps to protect your personal assets from a lawsuit against your company.
Other state requirements
If you plan to do business in a state other than Maryland, your attorney will be able to help you navigate any new requirements. If you do not comply with the laws in the states you do business in, you might be barred from continuing operating outside of the home state.
If you are considering starting a new business, you may want help navigating the complexities of the process. From choosing the best business entity to filing formation documents and protecting you from personal liability, a good attorney can make a significant difference in building a successful company.
Source: Nov. 30, -0001