Having an attorney assist you when forming a business entity offers several advantages:
- Legal Expertise: Business attorneys at The Biggers Law Firm specialize in understanding the intricacies of business law. They can guide you on the best type of entity for your specific situation, such as an LLC, corporation, or partnership, based on your needs and goals.
- Compliance and Documentation: An attorney ensures that all necessary documents are correctly prepared and filed, such as articles of incorporation or organization, operating agreements, and bylaws. This helps you avoid costly mistakes and delays.
- Risk Management: They can help you understand potential legal liabilities and implement strategies to mitigate them. This includes drafting contracts, understanding regulatory requirements, and ensuring your business structure offers the appropriate level of protection.
- Tax Implications: Different business structures have different tax implications. An attorney can work with your accountant to optimize your business structure for tax purposes and help you navigate any related issues.
- Long-Term Considerations: As your business grows, legal needs may evolve. An attorney can provide ongoing advice and help you adapt your business structure to changing circumstances, including mergers, acquisitions, or changes in ownership.
- Peace of Mind: Knowing that a professional is handling the legal aspects allows you to focus on running your business. This reduces stress and helps you avoid potential legal pitfalls.
- Local and State Regulations: Business laws can vary significantly by state and locality. An attorney familiar with your area’s regulations ensures that you comply with local laws and requirements.
While business entrepreneurs may be able to handle some of these aspects on their own or with online resources, engaging a business attorney at The Biggers Law Firm when forming your entity is a prudent means of providing an added layer of security and expertise that can be particularly valuable, especially when starting a new business.