Small Business Start-Up Lawyers
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What Is a Small Business Startup Lawyer?
A start-up business is a newly developed company or partnership that begins their business by researching the current market and developing a business model. The goal is to quickly develop the startup into a well-known business, often times becoming publically traded (as opposed to a closely-held business) or merging with a larger company. At this point they cease to be a start-up and an independent entity.
Start-ups that have lower costs, a higher risk and higher potential returns are more attractive to investors, which is important to the startups chances of surviving. Additionally, startups, which begin as a small operation, have a higher success rate. Start-ups must follow federal and state securities laws, as these dictate how and when the start-up can begin offer shares of stock, register with the Security Exchange Commission (SEC).
What Should You Consider When Starting Up a Company?
Start-ups require careful planning and a understanding both of the business field of choice, as well as the laws that apply. Some aspects to consider when starting up a company may include:
- Planning and expenditures
- Start-Up Business Regulations: laws may be different in each state, and sometimes even in different areas of town (due to zoning, etc.)
- What type of business form to use (i.e., LLC, partnership, etc.)
- Contract rights and limitations
What Are the Other Applicable Federal Regulations?
How heavily the federal government will regulate your business depends on different factors, including the nature of your business, any affiliation it might have with the federal government, and the location of your business. Be sure to check for any federal requirements and regulations or special permits and environmental regulations the Environmental Protection Agency (EPA) requires, that would apply to the industry your business will be associated with.
What Kinds of Tax Procedures Do I Need to Follow?
There are two types of tax forms for registration with the IRS that a small business owner should be aware of when starting a company:
- Application for an Employer Identification Number – Almost any type of company that has employees working for it will need an Employer Identification Number from the IRS.
- Election by a Small Business Corporation – This applies only if your business is a corporation and you would like to receive special tax treatment by giving it the status as an S type corporation.
How Can a Lawyer Help a Startup Business?
Starting a business or a start-up can be a complicated task from the start. Choosing the type of business your start-up should be or what state your business your business should be incorporated in can be a difficult decision. A Start-up Lawyer can help your start-up business in the following:
- Incorporation: A start-up lawyer can help you decide on the structure of your business needs, finances, and plans.
- Employment Issues: A lawyer can help resolve any employee issues or help you ensure all your employees are authorized to work legally.
- Protecting Your Idea: An IP layer can help you file all patents needed.
- Complying with all SEC Regulations: A lawyer can help you understand all the complex securities laws in your company goes public.
Should I Seek Legal Advice for My Startup Business?
Trying to get your business off the ground can be hard enough, and trying to decipher which federal laws you must comply with and how to comply with them can add unneeded frustration to the process. You should contact a local business lawyer who has experience dealing with start-ups. Your attorney can advise you of what federal laws pertain to your business and what you must do to comply with them so to avoid fines and other legal expenses associated with non-compliance with the regulations.
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Last Modified: 04-27-2017 08:47 AM PDT
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