If you have decided to become a business owner, you probably already know that getting your start-up off the ground and running smoothly will be a challenging endeavor โ and one that requires a considerable commitment of time and resources on your part. It will all be worth it, however, if your business is a success. The best way to dramatically increase the odds of your business succeeding is to work closely with an experienced start-up lawyer from the beginning. Choosing an Attorney โ It may be tempting to put off retaining an attorney for your start-up until a later date under the mistaken belief that you do not need one right away.
The reality, however, is that you need to consult with an experienced business attorney immediately after making the decision to move forward with your start-up. The time and money you invest in an attorney early on will undoubtedly save you considerably more of both down the road. Working closely with an attorney experienced in helping start-ups get off the ground is an invaluable advantage to give your fledgling business. Business Structure โ Choosing a legal structure for your new business is one of the most important decisions you will make.
Although there are also a variety of sub-categories and hybrids, the most common business structures include:. Making the wrong choice could subject you to personal liability for debts of the business, increase your tax obligations, and diminish financing and investment opportunities for the business.
Our Tampa business formation attorneys can guide you through the decision-making process and help you establish the legal structure you choose for your start-up. Contracts and other Legal Documents โ One of the most common mistakes made by entrepreneurs is failing to put agreements and contracts in writing. When you decide on a legal structure for your start-up, the appropriate legal documents reflecting that choice need to be created.
Counting on a verbal agreement instead of taking the time to create a partnership agreement, for example, could lead to uncertainty and confusion upon the death or incapacity of a partner.
