Gibbons Law Firm: Legal Questions to Ask When Starting a Business

Starting a business is an exciting time but it may also be filled with some apprehension. Opening a business is a big risk and our business lawyer at the Lake of the Ozarks is here to help mitigate some of that risk. As you prepare to open your doors, it's important to ask yourself a few questions ahead of time to better prepare your venture in a legal sense. Take a look below to learn what Gibbons Law Firm recommends you ask before starting a business!

What is the right business structure for me?

Before starting a business, you will need to decide upon the business structure. As a sole proprietorship or general partnership, you and your business will be seen as the same entity. This can cause issues in your personal life should your business go into debt or be sued. To help protect against this, you can structure your business as a corporation, limited liability company, or limited liability partnership. This can help protect the personal assets of those involved in the company. Limited partnership and nonprofit corporations are also options for your new venture. A legal professional can offer the pros and cons of each type and offer advice as to which one is best for your future business.

Should I trademark my brand?

A business name, logo, and slogan can be trademarked to help prevent other businesses from using the same branding technique as yours. To do so, you must register these items to be trademarked and ensure you are not using a graphic, name, or phrase that another business has already used.

Do I need a lawyer for my business?

While it's not required, a legal professional can help your business in a number of ways. From helping establish your business and initial documentation to giving legal advice throughout your time in business, you may use your business lawyer a lot. It's best to have a legal professional on your side who knows your background when a legal issue arises. We'd be pleased if you would consider Gibbons Law Firm to be your legal professional for your new venture!

What risk do I face when hiring employees?

Your business may be open to a number of risks and regulations as you hire employees. It's important to know the details of employment laws and to abide by the rules of employment for your state. Don't forget to keep good documentation of any employee activity - hiring, firing, and everything in between. Your business lawyer near the Lake of the Ozarks can help you know the regulations you need to follow and help you draft accurate documentation for any employment activity.

What contracts do I need?

This depends on what type of business you are operating. Well-written contracts are very important for a business. They can help to protect your business, ensure you get paid for work you have completed, and help decrease the number of disputes brought against your future business. Your lawyer will be able to specifically narrow down what contracts are needed for your unique venture.

Have you asked yourself the above questions? If not, now's a great time to start legally preparing for the start of your business at the Lake of the Ozarks. As an experienced attorney in Lake Ozark, MO, we know how important it is to protect your venture and there are some great ways to do just that. Contact our Lake of the Ozarks law firm to help protect your business before you open!

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