Why Entrepreneurs Need Business Lawyers

Why does a small business need a lawyer? A better question—why would they not? If you don’t think you need a lawyer to start a business, you’ll be searching for a California business lawyer by the time you’re done reading this article. With over 60,000 sections in the California Code of Regulations, it simply wouldn’t make sense for a small business operator to be familiar with every single law. A successful company can only be built from a strong foundation, which results from careful planning and structuring. A business lawyer not only helps create legally compliant companies but ensures they always stay compliant because as companies evolve, so do their legal needs. Legal landscapes can change over time, and not knowing how to navigate through them is one of the reasons most businesses get in legal trouble. Forming a company is only one aspect of starting a business—keeping the business compliant is an entirely different matter. The number of regulations imposed on small business owners can be overwhelming, and the failure to comply with even one of them can lead to negative legal or financial consequences.

Lawyer for Small Business

Before diving into the details, let’s go over some of the basics and establish what a business lawyer can do for you:

  Help you choose the right business entity

   Check the availability of your desired company name or help you explore alternatives

   Prepare and file incorporation or LLC formation documents with the Secretary of State

   Draft and prepare legal documents such as business agreements and contracts

   Help you stay compliant with all the local, state, or federal regulations

   Help you avoid legal issues by minimizing risks and liabilities

With so many expenses, we know you have questions such as how much does a business lawyer cost and can I afford to hire one? You can’t afford not to. However, if you’re ready to start a business, you must ensure you can legally be in business. A business lawyer can help you determine the best structure for your company. Based on your business goals, they can help you identify if a sole proprietorship, LLC, or corporate entity is suitable for your needs. Furthermore, a business lawyer can help international entrepreneurs looking to operate a business in the U.S. as they may have to comply with a different set of rules and regulations. It doesn’t matter what stage your business is in; you’ll always need a lawyer for business matters to protect you from all sorts of risks. The question is, are you willing to take a chance on minuscule details that can easily be overlooked but cost you hundreds, if not thousands, of dollars?

An experienced legal professional can foresee potential liabilities and ensure you have the proper documents in place beforehand. For example, if you wanted to open a mobile dog grooming business, would you know to protect yourself from risks and liabilities? A business contract lawyer can create all the essential contracts your company would need on an internal and external level. Not only do you need agreements with partners and employees, but you need to make sure your products and services have the proper disclaimers and disclosures. Keep in mind the more your company expands, so will the number of employees, vendors and contractors you work with. A business lawyer creates contracts for companies not only in the beginning, but during various stages of development as well.

You may have different goals entirely and want to purchase an existing company. What due diligence is needed when buying a business or transferring ownership? A business lawyer can draft, review, and negotiate the extensive documentation involved in such a business transaction. Or, perhaps you’re on the other end of the spectrum, trying to sell a business instead. A small business lawyer doesn’t just help with planning and development when you want to start a venture; they can also help you get out of one when needed. A business lawyer in Los Angeles can help you figure out the best exit strategy when you’re ready to sell your company. By this point, you can already imagine—there’s more to it than meets the eye.

Whether you need a lawyer for business contracts or legal advice for any transaction, our legal team at Yepremyan Law Firm is here to support you. Contact us to schedule a consultation and let us know how we can help.

*No Legal Advice Intended. This website includes general information about legal issues and developments in the law. These materials have been prepared for general informational purposes only and are not intended to be legal advice. Please consult an attorney for legal advice pertaining to any particular legal matter. Use of and access to this website or any of the links or resources contained within the site do not create an attorney-client relationship between the reader, user, or browser and Yepremyan Law Firm and any of its attorneys, employees, or associates.