Why You Need a Lawyer for Your Startup

Every startup needs a lawyer on their side. Conflicts, disputes, and other legal issues can arise while your business grows and expands. You could get hit with a lawsuit out of nowhere. It’s important for your business to stay protected at all times. This can prevent some costly mistakes from happening. Here are five reasons why you should hire a business lawyer. 

  1. Legal Agreements

Your startup needs to address the types of liabilities that you’ll face. You’ll also have to determine how you plan to divide profits and how you will tax your entity. Some of the most common business structures include Corporation, Limited Liability Company (LLC), Partnership, S-Corporation, Sole Proprietorship. Depending on your needs, a lawyer can help you choose the right structure for your business. 

  1. Trademark & Intellectual Property

Maybe you have one of the best products or services on the plan. But you could be stuck on the wrong name. You don’t want to come up with a horrible name. The wrong name should be the least of your problems when you receive a cease and desist letter for using someone’s trademark. 

  1. Contracts

Contracts an important part of operating and running a business. It doesn’t matter how big or small your startup is. You need contracts for clients, employees, leases, sales, and vendors. Some of the most common types of contracts include a Bill of Sale, Commercial Property Lease Agreement, Employee Agreement, Employee Non-Compete Agreement, and Warranty. 

Prime Lawyers can help you write up contracts to prevent legal trouble. Contracts can also prevent miscommunication problems when entering into an agreement with another party. Most contracts are written and managed by another lawyer and are made to favor the business manager. While this sounds complicated, you can negotiate difficult terms of agreements with the right lawyer by your side. 

  1. Conflicts

Business partners should get along in a perfect world, but there’s no such thing as a perfect world. The number one reason why startups hire a lawyer is to settle a dispute. It’s better to have a lawyer by your side before the problem gets out of hand. The perfect lawyer knows the ins and outs of your business. 

  1. Exit Strategies

A lawyer can also provide you with the perfect exit strategy in case something serious happens. Most business owners go to a lawyer immediately to prevent the succession of their assets. With a lawyer by your side, you can develop an exit strategy as your business grows and expands. This can help you come up with a resolution depending on which solution you go with. 

If you’re launching a startup, then you’re going to need a lawyer. You’ll also need a lawyer who can work with you on the ups and downs and ins and outs of your business. It’s important to find a lawyer who’s familiar with the type of startup you run. You’ll receive the legal guidance you need at an affordable rate. 

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