Starting a new business can be a daunting experience. Apart from the financial risk that comes with getting a company off the ground, there are legal issues to handle. Retaining an experienced attorney is the best way to ensure you don’t encounter unnecessary hurdles. But what should you bring to your initial consultation with your Houston business attorney? The Oracle Legal Group takes a close look.
Call us today at 832-291-2798 for a free business consultation.
An Overview of Your New Business
Start with the basics: what is your business about? Which industry or industries is it in? How many owners do you have? You should also tell your attorney whether your new business will have a physical space or only an online presence. Where is it headquartered and where will its various locations be?
Owner and Employee Information
Explain in detail who the owners will be and what roles they will play. Some owners take an active role in the day-to-day management of a company. Others invest their resources but take a back seat. You also should notify your attorney how many employees you plan to have and what they will do. This information will help your Houston business lawyer recommend the best legal structure for your company.
Entity Selection
Speaking of legal structure, you will need to discuss which form is best for your company. Should it be incorporated? Should it exist as a limited liability company? Is a partnership a good way to structure it? Bring questions to ask. Your attorney can discuss the pros and cons of various business structures so you can choose the right one for your company.
Your Business Experience (and That of Your Owners)
Let your lawyer know what sort of business experience, education, and training you have. Provide the same details about your other owners and key leaders in the organization. This information can help your attorney gauge the risks your business may face. In turn, your Houston business attorney can make positive suggestions for managing them.
Intellectual Property Issues
Tell your attorney what the business name is and ask if there might be any issues associated with it. For instance, could the name infringe upon another company’s trademark? Also let your attorney know about any sort of branding, logos, or intellectual property your company might create. Many businesses have intellectual assets without realizing it, and they must take steps to protect them.
What Kind of Space Will You Need?
Does your business need industrial or manufacturing space? Or will it need retail and office space? Perhaps it needs both. Notifying your lawyer about this can go a long way in picking the right kind of property for your business. For instance, there are land use and zoning issues you may need to know about. Also, your attorney can assist with leasing or purchasing commercial or industrial space.
Financing and Investing
Discuss your financing plans with your attorney. How will you pay for current and future operations? Do you plan to solicit investors as well? There may be regulations you need to follow if so. As for financing, your attorney can assist with recommending lenders and securing advantageous terms for your business loan.
Insurance and Licensing
Ask your Houston business lawyer to recommend the various types of insurance you might require. For example, if you plan to open retail space, you will need premises liability coverage. If you intend to have company vehicles, you must have sufficient insurance on them. Licensing may be necessary depending on which industry your business is in. An attorney can help with all of these.
Taxes
If you already have a preferred accountant to manage your various tax needs, let your lawyer know. If not, ask your attorney about how to find one. You will have a number of tax obligations that must be met. Some of them will depend on how the business is structured (e.g. as a corporation).
Helping Your New Business Start On the Right Foot
With the Oracle Legal Group by your side, your business can be poised to successfully address emerging legal challenges. We represent businesses from formation to termination and at all steps in between. Let our Houston business lawyers help you get started right.
Give us a call today at 832-291-2798 for a free business consultation. You can also read our blog post about how our attorneys can help you start a business.
