Tuesday, December 12, 2017

What You Legally Need to Start a Business

Starting a business is an exciting time filled with life changes and hard work. It's important to have your ducks in a row when it comes to the legality of your business. Our Lake of the Ozarks law firm is here for all of your small business needs. From starting a new venture to representing your business, there are a number of ways we can help you! If you are just getting started, take a look below to find some helpful tips on what you need to do as you open a new business near the Lake of the Ozarks.

Verify Your Business Name

Even if you think you have a unique business name, it is important to ensure no other business has rights to the name. You can also trademark your name to make sure no other business can use it if it is not already in use. This is likely the first step you will need to complete as you start up your new business.

Protect Your New Venture

Will your business be an LLC or corporation? If you are unsure which is the best option for your business, consult a legal professional for advice. Either way, it's important to know the pros and cons of each type of business protection that way you can help choose the right option for yourself. If you don't have this type of protection, you may open your personal assets up to being involved in your business.

Register for a Federal Tax ID Number

A Federal Tax Identification Number can help to identify your business as a separate entity. It's essentially a social security number for your business. This is another way to distinguish your business as a separate entity than yourself, adding another layer of protection to your individual assets.

Brush Up on Employee Law

Even if you don't plan on hiring many employees right away, it's important to know the ins and outs of employee law. From hiring paperwork to a wide range of documentation, you want to always protect yourself and your business by staying informed, when employees are involved. Do you have questions about this, contact your local business lawyer at the Lake of the Ozarks.

Obtain Business Permits

Business documents can vary depending on the location and type of business you are conducting. Ensure you have the proper permits for your area and field of work. Permits may need to be obtained on a federal, state, and local level, so don't forget to look into all of these requirements.

Keep Good Documentation

No matter what decisions are being made, ensure you have a good documenting and filing system for your business. It's important to be able to locate all important documents in a timely manner when needed. This can also help protect your business in a number of ways, should an issue arise.

Now that you've hopefully learned a little more about what is legally required to start a business, you're ready to get started! From the initial paperwork to employment documents, Gibbons Law Firm can assist your business in a number of ways, especially if you are just getting started. Contact us today to set up your first consultation, and remember - your first one is always free! We look forward to helping you grow your Lake of the Ozarks business!

Remember, your initial consultation with Gibbons Law Firm is always free.

Your Trusted Legal Resource

Gibbons Law Firm
2820 Bagnell Dam Blvd, Suite B4
Lake Ozark, MO 65049
(573) 348-2211

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