Entering the entrepreneurial world can be exciting and nerve-wracking at the same time. This is your chance to break the shackles of the normal rat race. But it also comes with risks. To be successful, you need to think ahead. Here are three huge decisions that will impact the success of your business from day one.
- What business formation type should you use? – Will you simply set up a sole proprietorship, or will you want to structure your business as a corporation? There are numerous business formation types available to you, and each has its pros and cons when it comes to personal and tax liability as well as other matters.
- What contracts and agreements will your business require? – For example, if you are going to be hiring employees or freelancers to do work for you, a contract will protect your business. You may need to have a lease agreement reviewed if you are renting property for your business. If you’re going into business with someone else and don’t want to incorporate, you should be having a partnership agreement drafted.
- How will you protect your intellectual property (IP)? – Your intellectual property is what sets you apart from the competition. You need to maintain that advantage through the use of patents, trademarks, and copyrights.
Small Business Legal Needs in San Diego
Pokala Law APC can help guide you through these essential elements of getting your new business off the ground. Give us a call at 1.844.695.1487 today, or you can request an appointment online to get the small business legal services you need at affordable rates.