Questions to Ask a Business Lawyer if You've Never Talked to One
Posted Friday, July 7, 2023 by Kim Sandher
Hiring a business lawyer is a crucial step in ensuring your company's legal compliance and protecting your interests. However, knowing what to ask your lawyer can be challenging for first-time entrepreneurs.
Here are some questions you should ask your business lawyer to gain a better understanding of the legal aspects of your new company:
What Business Structure Is Best for My Company?
Understanding the various business structures available (sole proprietorship, LLC, corporation, partnership, etc.) and their implications is vital. Ask your lawyer to explain which structure aligns best with your business goals, personal liability concerns, and potential tax implications. Read more here about the different structures.
How Can I Protect My Intellectual Property?
If your company has unique products, services, or branding, it's essential to safeguard your intellectual property (trademarks, copyrights, patents). Inquire about the process of registering these assets and how to defend your rights against infringement.
What Licenses and Permits Do I Need?
Running a business often requires obtaining specific licenses and permits to operate legally. Your lawyer can guide you through the necessary paperwork and help you stay compliant with local, state, and federal regulations.
What Contracts Do I Need for My Business?
Contracts are the foundation of any business relationship, whether with clients, suppliers, employees, or partners. Ask your lawyer about the contracts you need, their content, and how they protect your interests.
How Can I Minimize Legal Risks in My Business?
Inquire about potential legal risks your business may face and how to mitigate them. Your lawyer can help you identify areas of vulnerability and implement risk management strategies.
What Employment Law Considerations Should I Be Aware Of?
Hiring employees involves adhering to employment laws and regulations. Ask your lawyer about creating employment contracts, handling disputes, and ensuring compliance with labor laws.
What Are the Potential Legal Liabilities for My Industry?
If your business operates in a specific industry, there may be industry-specific regulations and potential liabilities to consider. Discuss these with your lawyer to ensure you are fully informed.
How Should I Handle Disputes or Legal Issues?
It's essential to have a plan for handling disputes or legal issues that may arise during the course of your business. Ask your lawyer about dispute resolution strategies and how to protect your business in case of a lawsuit.
How Can I Ensure My Business Transactions Are Legally Sound?
Whether you're entering into partnerships, selling products, or acquiring assets, ensuring your business transactions are legally sound is critical. Seek advice from your lawyer to navigate these processes effectively.
As a new company owner, working with a business lawyer is a valuable investment in securing the legal foundation of your venture. By asking the right questions, you can gain a deeper understanding of the legal aspects relevant to your business and make informed decisions. Remember, an experienced business lawyer can provide personalized guidance and help you navigate the complexities of the legal landscape, setting your new company up for success. Always be proactive in seeking legal advice to protect your interests and comply with the law.
Disclaimer: This blog post is for informational purposes only and does not constitute legal advice. For specific legal guidance regarding your business, it is recommended to consult with a qualified attorney. You may reach Kim Sandher at 206-340-2008 with questions.