Should You See A Lawyer Before You Start A Business?

 In Blog

Starting a business can be a daunting task, no matter how big or small. It can take months or even years of preparation before the doors open.  Certainly the costs of starting a business can be challenging and many business owners wisely look to cut costs but one area a new business owner should not is when considering whether or not to consult an attorney in the legal matters surrounding any new business. This effort to cut costs most often leads to more costs and expensive setbacks in your start up. “When starting a business, it can be extremely important to have an attorney draft and review the contracts or agreements that make up or provide the basis for the business. This is an essential component to assure that the documents are set up and drafted in a manner that reflects the immediate needs of the businesses well as the anticipated growth.  As each business is unique in its own way, templates and standard forms often are insufficient to set up and prepare the business for its own specific needs and intentions for success.  Additionally, those needs often change over time requiring previous agreements to be amended or modified to continue to support the business and protect its owner(s),” Attorney John Hayes said.

Some businesses are new and require contracts and LLC’s to be created. Sometimes a business is switching hands. When a business is sold, it is extremely important to make sure a lawyer reviews all documents that pertain to the business. “It is absolutely necessary to have a lawyer review all documents before a business is sold.  A business owner always needs someone on their side looking out for their best interests,”  said  Lawyer Mike Van Tubergen.

Some businesses are sold on a land contract. Sometimes new business owners borrow money from a bank. Whether the business is bought, sold, or started, it is best to sit down with a lawyer and review everything.  From contracts to liability insurance and everything in between, a lawyer can help a business owner get their business organized and established so the business owner can focus on running the business.

If you would like to learn more, please schedule a free consultation or call at 616-844-3000.

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