Contrary to popular belief, protecting your business does not always require expensive services by a lawyer . Especially in the initial stages of your business start-up, it is important to allocate your cash carefully, and not waste it on unnecessary fees. Luckily, through your own action, research and the use of a corporation service company, you can save your funds for other, more pressing development costs.
Doing Your Own Research
For example, you can safely choose the right legal structure for your business without the use of a lawyer, ie. Corporation, Limited Liability Company, or Partnership. You can reference the Legal Entity blog for more information on choosing the right structure for your specific needs.
You can single-handedly form a corporation or LLC and prepare the necessary incorporation forms, and open a corporate bank account. You can also create a trademark for your company name and have your mail forwarded to the location of your choosing.
Less Expensive Alternatives
If you are confused or need assistance with any of the aforementioned steps, however, there are professional advisers and corporation service companies that would be more than willing to help you for a modest fee. Never hesitate to consult an lawyer when a serious or questionable situation arises.
When a Lawyer is a Must
Although much legal protection can be handled from within the company, business lawyers do become necessary when your company is targeted by Government agencies in the form of filed complaints or investigation. They are also required if you plan to sell your company, acquire another company and/or its assets, or if an employee or customer sues you. When you decide you need a lawyer here is a good article in helping to chose the right one: http://www.entrepreneur.com/article/58326
This blog article has been prepared using the best available sources, however, tax laws and interpretations of tax laws are always changing. Inc. Plan (USA) cannot guarantee or warrant the accuracy of the information contained herein. In legal and accounting matters, seek the advice of an attorney or an accountant.