There are two kinds of new entrepreneurs. There are those who understand the vital nature of the decisions they make opening a new business and then there are those who are headed back to a day job. For all but the least serious business owners, hiring the right advisors early on is very important. If you are starting a business or even thinking about, here are some things to consider.
Your Business Plan
Since you’re going to hire an accountant to draw up the financials, prospectus and projections for your business plan, you’ll want to bring a Wisconsin Business Attorney aboard right away. Why? Because the whole point of a business plan is to demonstrate responsibility and due diligence. A knowledgeable attorney will not only put your investors, partners, employees and customers at ease, but he or she will also be able to show you how to perform all the tasks necessary to produce a workable and understandable business plan.
A skilled Menomonee Falls Business Attorneys will also be able to assist you in choosing an entity for your company. Depending on the type of business you run, who will be running it and what your financial structure will be, a Wisconsin Business Attorney is the right person to have on your team to help you choose between a Limited Liability Company, a corporation, a partnership or some combination of the three.
Once you’ve made your plan, your attorney will help you set the business up and assist you in your regular filings and payments.
Many companies start out with considerable intellectual property assets and don’t even know it. Having an experienced attorney on your side is crucial to protecting these assets so you can exploit them successfully in the marketplace.
Even if you start out with nothing but a business name, you may have a potential trademark in that name. If you have a formula, recipe, character, fictional story, logo or even a company jingle, you could have a valuable asset that should be protected.
For a lot of business owners, all the details can seem complicated and overwhelming. One of the first things you’ll learn when you run your own business is delegation is not optional. Having a knowledgeable and experienced business attorney is also not optional, especially in a fast-moving economy. Make sure you take the first step towards success with the first member of your legal team.