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An attorney can help prevent mistakes during a startup

| Sep 21, 2015 | Business Formation & Planning |

 

With a new business, you have a lot on your mind. Making sure all of the part of your business function well, from working with your customers to making certain you have adequate insurance, to innumerable other details, can make the first few months of any businesses existence tremendously hectic.

But they all need to work and that is why you should consult with an attorney before you flip the switch to your new business. You know how much time it takes to operate your business and meet the needs of your customers. Whether a small automotive repair shop, a specialized manufacturing parts supplier or a brewery and taproom, you understand the product or service you provide and what you need to do for your business to succeed.

 

However, you may not recognize all of the legal technicalities that go on, below the surface of your business, and how they can work to help your business become successful. And you may not always recognize when something is missing or you have forgotten something.

Then, when something goes wrong, you may be shocked to find an essential element of your business is missing. A document was not filed. Some necessary insurance was not acquired. Your payroll taxes or workers’ compensation insurance premiums were not paid.

While most of these issues can be rectified, they can become expensive and you may owe fines and other penalties, in addition to the need to hire an attorney to resolve the issues.

The advantage of working with an experienced attorney during the formation of your business is you can have all of these potential issues taken care of in advance, and it can provide an accurate picture of your expenses and prevent unexpected setbacks from impairing your business during those critical first months.

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