Business matters can be complicated, particularly if it is your first time venturing into this world. If you are looking to start your first business, you must consult with a reputable business lawyer before you make a major decision. While it is in your best interests to have a business lawyer on retainer, a few newbie business owners may not consider this a critical part of their business' expenditure. On the other hand, some people may simply not have the capital to do so. Whatever the case for you, read on for two scenarios that warrant the expertise of a business lawyer.
Setting up your startup business
A startup may seem like a simple venture to embark on since it typically is a small business. However, this does not mean that startups do not need an extensive amount of legal research before you can be in operation! For starters, your business lawyer will ensure that the company name, as well as the logo that you have chosen, are not infringing upon the copyright of other businesses. This is important to avoid so that you will not end up with a lawsuit on your hands.
Secondly, your business lawyer will help you determine the type of business structure that will be best for your startup at the onset; for example, if it should be an LLC. Once you have decided on this, you can then go about registering the startup. Lastly, your business solicitor will provide you with additional services, such as drawing up the necessary contracts for partners.
Protect the rights and ideas of your startup
The second scenario that will warrant the expertise of a business lawyer is to ensure that the rights and ideas of your business are protected from other companies. The same way that you need to make sure that your logo and name are not infringing on other companies, you also need a business solicitor to keep other companies from infringing on yours.
In addition to this, you need a business lawyer to ensure that all concepts that you come up with for your business are protected, too! Whether it is patented products or intentellectual property that cannot be quantified, it is your responsibility to ensure that you hire a business lawyer to accord you this protection. Failure to do so means other individuals or companies can profit from your data, and you will not be able to take any legal recourse if the data was not legally protected. Make sure that you find a professional lawyer to help you with your legal business needs.
Share6 August 2019
My brother wrote a really awesome app last year, and he got a whole lot of downloads straight away. It's been pretty awesome for him to see so many people enjoying his work. I have been helping to get him some advice on how to manage his copyright issues so that he can make the most of all of the characters and ideas that he has put so much work into. It's been really interesting seeing how much work there is behind the scenes in protecting copyright. I hope you find it useful in thinking about how to structure your own business and get relevant legal advice.