A relationship with a good business attorney is an often-overlooked part of any business venture and yet is one that could prevent many business problems. While it is not difficult to file a business name and start working, lawyers in College Station Texas advise that there are many things involved in running a business that should be handled by an attorney. A smart venture owner needs to know when is the right time to seek legal assistance.
Actions â€“ Lawyer Not Needed
To start a business, certain things must be legally done to recognize a company name and entity. It is usually possible to set up a company without needing an attorney to handle everything.
- Selecting A Name – Name registration establishes the unique name under which a company is formed, providing rights to the person registering it. Research on name availability and the use of other related names can be done by an owner, involving little more than obtaining the necessary forms from the IRS and sending them in to be approved and recorded.
- Registration – The registration of a company as an income-producing entity includes filing for an Employer Identification Number (EIN), registering with the IRS, and applying for any permits or licenses required to do business. The forms are pretty straightforward, requiring mostly identification information.
- Partnerships and LLCs – These business ownership agreements may be filed by the owner if it is clear what these legal structures provide. It is still suggested by College Station lawyers that owners consult with an attorney to ensure everything about the agreement is completely understood, however, this is not required and many file such paperwork on their own.
- NDAs, Buy-Sell, and Client Contracts – Non-disclosure agreements as well as buy-sell contracts are an important part of any partnership, dictating how the death of a partner, the sale of a partnerâ€™s half of the business, and the non-disclosure agreement should be handled. Owners can create such documents as well as most types of client and customer contracts if nothing unusual is involved.
Actions â€“ Lawyer Needed
When it comes to more complex legal matters, lawyers in College Station TX are usually a necessity in order for such documents to be properly handled. Some of these might include the following:
- Incorporation â€“ Businesses can file initial paperwork to incorporate, although the agreement should be finalized by an attorney. Taxes, income, profit, and company shares are some of the confusing topics within the process of incorporation that must be handled with an adviser who knows the field well.
- Employees – It is best to work with an attorney for anything having to do with employee hiring, compensation, working with, and firing. It takes little for even an honest company to make mistakes that can be a problem, so all of this is best outlined and managed by a lawyer specializing in this area.
- Patents – Because of the time and expense involved with filing for a patent, it is recommended that a company consult with a patent attorney beforehand. By doing so, businesses can get an idea of whether or not they will actually benefit from getting a patent in the first place.
- Litigation – Anything involving lawsuits, governmental or tax investigations, or other similar matters requires the retention of an attorney in order to be legally and appropriately represented.
These are only a few of the different areas of law involved in the formation and operation of a business. Some of the work can be easily handled; however, to ensure business success it is recommended to seek the services of business lawyers in College Station to ensure complete success.
Hoelscher, Elmore, Lipsey & Poole – College Station Business Lawyers!
Setting up a new business?Â Call Hoelscher, Lipsey,Â Elmore & Poole at (979) 846-4726 for experienced lawyers in College Station TX!