Business startup lawyers help companies navigate the complexities of developing, financing, and selling a startup business. A startup business is a newly formed venture that focuses on rapid growth and high volume distribution of its goods or services. Typically, the goal is to quickly develop the startup into a well-known business, become publically traded, or merge with a larger company. Most startups are technology-oriented, but any type of business that plans to grow quickly and distribute their products widely can be considered a startup.
Compared to a traditional small business, startups frequently have different challenges. For example, most startups do not rely on traditional business financing (such as small business loans). Instead, they actively seek capital from “angel investors” or venture capital firms. These investors weigh the startup’s costs, potential return on investment, and other factors when deciding to invest. And, most venture capital firms are hands-on with business development and expect a business exit strategy.
Startups require careful planning. Before founding a startup, you should:
When founding a startup business, you must comply with many state and federal laws and regulations. Depending on your industry, you may deal with:
It is important to understand which laws and regulations impact your business. If you fail to comply with these rules, you may face serious penalties, fines, and lawsuits.
Your tax procedures will depend greatly on your business type. Partnerships file taxes differently than most corporations. However, almost all startups must apply for an Employer Identification Number and file timely tax returns. If you need help understanding the tax implications of your business, contact an experienced lawyer or accountant for assistance.
It can be difficult to understand and anticipate a startup’s legal issues without a lawyer. A lawyer (or lawyers) can ensure that you properly:
Founding a startup is a lot of work. You’re going to put an extraordinary amount of time and effort into your company, and you should fully protect its interests. Contact a local business lawyer who has experience dealing with startups. Your lawyer can help you build a thriving business that complies with state and federal laws. And, an experienced business lawyer can ensure that your interests are protected through well-drafted contracts and intellectual property filings.
Last Modified: 03-05-2018 08:47 PM PSTLaw Library Disclaimer
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