Do You Need a Lawyer for Your Start-Up?
Posted by: Copenhaver, Ellet & Derrico
When you decide to start a new business in Roanoke, there’s a lot to consider. One of the most important – and the earliest decision you should make – is whether you need legal help with your start up.
You may not think you need a lawyer right away. After all, there’s probably little capital for legal help or there’s plenty of inexpensive or free legal resources online. While these reasons seem logical, you might want to reconsider getting legal advice for your start up. Investing in legal guidance now will save money in the long run.
At Copenhaver, Ellett & Derrico, we understand the challenges of starting a new venture and how to get your business up and running in the most cost-efficient manner possible. Let our Roanoke business lawyers help . Call us at (540) 655-1854 or use our online form to schedule an appointment.
Why Start-Ups Need a Lawyer?
Being in business subjects you to a slew of regulations. Failure to comply with local, state, and federal laws can prove disastrous. You could not only be forced to close your business before it even gets off the ground, but you might face serious penalties and heavy fines.
To avoid non-compliance and to sleep better at night, you need an experienced business lawyer to guide you. With all there is to do to get a start-up off the ground, the last thing you need is to be your own legal counsel.
Three main reasons to leave legal matters to us when you’re launching a start-up:
- Investor and partner agreements. Start-ups often have multiple partners and investors. By working with our business attorneys, we can provide all the necessary agreements needed so that everyone understands their legal rights and responsibilities.
- Compliance with government statutes, rules, and regulations. We can advise you on what business entity is best to form for your purposes, draft the necessary paperwork, and file the documents as required by law. In addition, we’ll make sure you understand your tax obligations and employment laws. If your start-up is tech related, this can be even more complex, and you need professional legal guidance.
- Risk mitigation with others. When you open a business, you must be aware of steps to take to reduce risk between the business and clients, customers, vendors, end users, suppliers, employees, or the public.
Common Start-Up Legal Issues
Besides the obvious need for an attorney to help with business foundation documents, there are other times having an experienced business lawyer is essential for start-ups. These include:
- Protecting intellectual property and if applicable, obtaining patents
- Employment compliance and best practices in hiring, employment agreements, payroll, benefits, workers’ compensation
- Independent contractor agreements, such as contracts, non-disclosure/confidentiality, and non-competition
- Contract drafting and negotiating with customers and suppliers
- Establishing terms of service for websites and license agreements for software
- Raising capital and banking matters
- Handling tax issues
When considering priorities for your legal dollars when launching a start-up, focus first on your business creation documents, partner agreements, and protecting any intellectual property. By establishing a relationship with a business lawyer, when you are need additional guidance, you’ll be working with an attorney who knows you and your business.
Contact Us About Your Start-Up Legal Needs
When you’re launching a business there’s so much to do. The last thing an entrepreneur needs to worry with are the many legal matters that must be addressed. By forming a trusted relationship with the Roanoke business attorneys at Copenhaver, Ellett & Derrico, you can focus on growing your start-up while we mitigate your risks.