If you are thinking of creating a business and are unsure of how to get it off the ground, a good place to start is by talking to your lawyer. Watch this video to hear just some of the crucial topics you need to discuss in order to run a legal, prosperous business.
The first thing you need to think about is how your business should be structured. Remember you are not separate from your business, so any debt or issues you have will be reflected onto your company if you are not careful. Second, be prepared to have backups for whatever name you chose for your new business.
You may come across legal issues if another business has a trademark on that name, and rebranding is no walk in the park.
When creating an LLC, operating agreements and corporate bylaws will create the guidelines for how day-to-day operations work, which is why it’s important to discuss what should be included in these. Fourth, be sure to ask about what contracts you will need to protect and support your business. Last, your business lawyer should inform you of other risks you may encounter in your startup.
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