It is likely that there will be an abundance of passion, and many questions, when beginning the dream of starting a business. Starting a business can be thrilling but may also present moments of anxiety. Many people may have interesting business ideas but not know how to begin and may feel overwhelmed by what steps to take. The legal aspects of a start-up company may seem intimidating to would-be entrepreneurs.
To overcome perceived obstacles, one expert notes that an individual pursuing the dream of a business start-up should not be deterred in the face of business ownership and should begin the process by conducting research. There are many resources available to individuals starting a business such as the U.S. Small Business Administration for instance. From starting a small business to something larger in scale which may require investors, resources exist to aid beginning entrepreneurs.
In addition to conducting individual research, the expert also notes that it is important to find help that specializes in business formation. Combined with the knowledge and passion a new business owner brings, someone who specializes in business law, such as a business attorney, can aid the start-up company in important initial business start-up considerations and decisions such as entity form selection. Entity formation can be an important consideration because it can determine legal liability in differing situations and legal requirements may need to be met for each form.
A trained business attorney can not only help a business start-up get started but can also help the start-up company through growth and any challenges faced along the way. A business attorney can guide a new business owner to help ensure the best decisions are being made in the formation and running of the company to match the business owner’s needs and goals.
Source: The Lakewood Observer, “How To Navigate Through The Legal Aspects Of Starting A New Business,” Mike Belsito, Nov. 12, 2013