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Areas of Concern When You Form a New Business

Posted on: January 9, 2015

Areas of Concern When You Form a New Business

When you start a new company, you should seek the advice of a South Florida business formation attorney who can assist you with all aspects of your business’s formation. Many entrepreneurs mistakenly launch a business without having a plan in place to manage their risk. An attorney can address the most pressing legal risks to you before you dive into your business. An experienced attorney will also ensure that the right type of legal structure is used for your business and will address any unique concerns and potential issues with you before they become a real problem.

There may be operational risks that you are unaware of

A knowledgeable attorney can help you see your blind spots, or previously unforeseen risks that can have a tremendous impact on the future of your business. Your attorney will very likely catch risks or operational issues that you were previously unaware of after a consultation. An attorney can also give you advice regarding the most likely troubles that you may encounter during the operation of your business, and which specific liabilities to focus most of your time and resources on avoiding.

Addressing how a business is divided between multiple owners

If a business has multiple owners, it is always advantageous to hire an attorney for help with organizing the business. Your attorney can help you determine how your business should be fairly divided in terms of equity and responsibility. Also, any profit sharing agreements and partnerships can and should be properly documented in writing by your attorney so that future disputes can be easily solved or prevented altogether.

Your attorney can help you obtain permits

Your attorney can also help you obtain every license that is necessary for the operation of your business. This can include any permits needed to operate your business in Florida, intellectual property rights, arranging agreements and more. For some businesses this can be a complicated process, however the financial consequences of operating a business without permits can be quite severe. Also, if any permit or license issue arises in the future, your attorney will already be knowledgeable about your business and will help you navigate through the problem quickly and cost effectively.

Mark Schecter is an experienced South Florida business formation attorney who can answer any questions that you may have during the process of starting a new business. Contact Schecter Law today if you have any questions at all about your business or for a consultation.