As you learned in our first blog post, the team here at The Law Offices of Kirk Halpin & Associates, P.A. is armed with the knowledge and experience to help your business grow. However, for it to grow, it must first be born. Luckily we have expertise here, too. Starting a business on your own can be difficult and risky — here is why we recommend going at it with a helping hand from a business lawyer.
Understanding Business Regulations
There is an abundance of regulations for new businesses on the local, state, and federal levels, many of which are long and convoluted. These can include health and safety practices, hiring practices, financial practices, and much more. Without being informed, it is difficult to comprehend and adhere to each and every one. It is also hard to know what you don’t know. When you choose to accept the assistance of a business lawyer, those problems are lifted off of your shoulders and onto those of someone with years of study and experience. Before you begin operations, your business lawyer will ensure that your business is set up properly and in accordance with the applicable laws and regulations.
Unless your new business is a one-person show, you will need to bring on employees to help get your business off the ground. For certain staff, this requires specific and legally constructed employee contracts. Many business owners attempt to draft their own employee contracts, some copy contracts found online that do not actually apply to their industry or state, and others have attempted to go about business with no written agreements whatsoever. This can lead to innumerous legal and financial issues down the road. It is because of instances like these that we highly advise having your employee contracts professionally drafted by a business lawyer.
Leasing a Space
Leasing a space for your business operations can be tricky. Rather than attempting to run through the leasing experience on your own, we suggest legal assistance here as well. For example, we find many instances of lease agreements without a necessary escape or “what if” clause. For example, if you are a government contractor and you lose your contract, there should be an option in the lease allowing you to terminate the lease. Or, what if you are leasing space for your bookstore or card shop in a shopping center and the landlord permits another bookstore or card shop to open in the same shopping center? Having an attorney review your lease, can help you identify and plan for these unexpected scenarios that may occur over the life of your lease. Fortunately, you have found a business law firm that has plenty of experience in real estate law as well. If you missed last week’s blog on this topic, you can find it here.
These are only a few of many common shortcomings for new business owners. For a more thorough account of what not to do when starting a new business, read Kirk Halpin’s piece, “Top 10 Legal Mistakes Made When Starting a New Business,” over on SmallBusinessLawFirms.com.
Contact The Law Offices of Kirk Halpin & Associates, P.A. Today
Practicing together in Howard County since 2004 – first in Columbia and now in Clarksville, The Law Offices of Kirk Halpin & Associates, is here to help with a variety of business, real estate and finance law issues. We have a long list of practice areas, a long list of industries served, and a long list of success stories and recommendations in helping businesses, no matter the size, grow, reach their goals, and surpass them. If you’re seeking counsel on a business, real estate or finance law issue, always feel free to contact us via our contact page or call us at (410) 531-1700. While you are here, remember to follow us on Facebook, Twitter, Google+, and LinkedIn to stay up to date with our blog and the latest happenings at our firm.