Starting a company is a significant endeavor. And while this can be an exciting venture, there are also many legalities that first have to be processed and completed to ensure everything will be in order. For first-time corporate entrepreneurs, it’s a whole new experience that can be daunting. And as such, having the advice of experts to walk you through this corporate entrepreneurial venture is highly beneficial.
If you’re still in the process of establishing a company, it can be a plus to have a corporate lawyer by your side. They’re the best professionals who can help you ensure that everything you need to get your company off the floor is well laid out and ready, making for a strong business foundation.
Furthermore, this article outlines some of the ways a corporate lawyer can be of benefit to you during this startup phase.
They’re Experts In Corporate Law
There’s no one else who exhibits more expertise in corporate law than corporate lawyers themselves. They know everything there is to know about starting corporations, so you can be sure you’re starting on the right foot. Hiring lawyers can also help ensure that you’re compliant with corporate and legal matters, which can help spare you potential legal battles and lawsuits.
More so, here are the other ways they can also be of service to you:
- They can help you in drafting all the standard contracts which you’ll be using for your customers, suppliers, and even your clients.
- They know what’s needed to come up with a limited liability corporation (LLC) as your chosen form of business organization.
- They can help you with matters surrounding taxation and the licenses of your corporation.
- They can help and assist you in preparing various legal documents and information about your business when entering into an agreement or partnership with a potential investor
They Can Protect Your Corporation Against Lawsuits
As briefly mentioned above, the last thing you’d want is for your newly-established corporation to be tainted with negative rap because of a lawsuit. As much as possible, you’ll want your corporation to be free from any legal impediments that can hurt the reputation you’re still trying to build. A corporate lawyer such as GLG LLP can help you with such. Lawsuits can be avoided when you know for sure you haven’t breached any legal matter.
If, for instance, you’ve already been charged with a lawsuit, then a corporate lawyer can help potentially reduce the charges against your corporation. Better yet, take the proactive approach of hiring a corporate lawyer, cover all your bases, and see to it that all legal matters have been met.
They Ensure State And Federal Compliance
If only starting a business is as easy as signing a few documents and later on being issued your articles of incorporation. But no, it’s not that easy, as there’ll be a lot of institutions and processes involved, especially those from the government sector.
More than anything else, starting a corporation necessitates meeting and satisfying all the state and federal compliance requirements. If not, your corporation may not even be considered a legal entity, whereby your articles of incorporation and registration permits may not be released. This can also prohibit you from conducting your operations legally.
With that, strictly abide by what the state and federal law tell you to do. Should there be any bumps along the way, worry not, as you have a corporate lawyer who can help smoothen all those out on your behalf.
They Can Protect Your Intellectual Property
The intellectual property of a corporation can include trade secrets, product designs, original work, inventions, and logos, among others. Once you’ve registered those and have them patented, then you can protect all those from being stolen or copied by another corporation.
However, even the process of trademark and patent registration can be a challenging task to do. But a corporate lawyer can help and assist you with this. That way, you’ll be able to rightfully preserve your legal right to all your business’s intellectual property.
While it may seem like an all-too-obvious fact to highlight the need to have a business lawyer, you may be surprised to find out that some business owners may opt to forego having one. After all, technology has made information readily available to anyone, so the need to hire a corporate lawyer may no longer seem as pressing.
And while you can save money without a corporate lawyer, note that you could be hurting your corporate startup should you choose to overlook the need to hire one. For reasons like those above and so many more, you can be more or less informed and convinced about how having a corporate lawyer can be to your advantage and how it’s always the best approach.