The Why’s and How’s of Selecting a Business Formation Attorney for Your New Start-Up
When your business is just starting out, you might not have “Hire a business formation attorney” listed at the very top of your to-do list. The selection process can be confusing, and what value do they add anyway? The benefits of engaging a lawyer have to be significant enough to outweigh the expense. That’s why it’s important to have an accurate set of expectations before you pull the trigger to bring an attorney onboard.
You Should Expect a Good Fit between Your Business and Your Attorney
In fact, the first and most important thing to look for is the “fit”. You need this person to be someone you trust implicitly, and someone who understands what your company does, along with the why’s and how’s of your business. If they aren’t interested in your work, they aren’t going to be right for the job. Plus, you’ll be logging a lot of hours with this person over time, so it’s much easier on everyone if you actually like working together.
Expect Responsive Communication with Your Business Formation Attorney
On top of fit, you’ll need someone capable and responsive to your questions and communications. But keep in mind: a capable attorney for starter restaurants isn’t going to be as “capable” when it comes to, say, patenting and leasing a brand new biochemical process. So make sure you also talk to them about their previous experience and how it aligns with your company’s goals today.
Why You Need a Lawyer in the First Place
In these days of online DIY everything, it’s easy to think you can simply log on to some .com legal site and get all the information you need to get your company started. But that couldn’t be further from the truth.
At the most basic level, every company will end up dealing with four parties:
- The government
- The public/customers
- Third parties and other businesses
- Other people inside the company
Your attorney should ensure your company is on the up-and-up from day one, avoiding any legal violations, and protecting your business from unnecessary risk and exposure. Likewise, they will be able to establish clear rights and boundaries for each of the people involved on day one; a task which becomes especially helpful the more times (and people) change.
To accomplish all of the above, your attorney will work with the founding business members to determine what is needed (say, papers for founding an LLC versus a corporation). Legal sites, while informative, only work if you already know every single item you’re going to need, and also the necessary tweaks and changes required to make formulaic content apply to your business.
Specific Tasks Your Business Formation Attorney Can Assist With
- Formation of the legal business entity, including any articles of incorporation
- Hiring employees and drafting contracts, including any non-compete and non-disclosure clauses
- Contract negotiations with customers and third parties
- Terms and conditions governing website usage, domain incorporation, privacy policies, etc.
- Filing for patents, copyrights, or trademarks (where applicable)
- And more…
Ready to Take Your Business to the Next Level?
Excellent! Click or call to schedule a consultation with one of the experienced business formation attorneys here at Titus Law: 770.416.8426