Becoming an entrepreneur can be amazing in the potential it brings you, but it also comes with its fair share of challenges. If you want to protect your personal assets, as well as understand the complexities involved for forming legal entities that will allow you to operate under more favorable tax laws, consider that people often get help in these areas from an experienced lawyer who is knowledgeable about these matters. In this case, you’ll want to look no further than The Business Formation Process with a Business Lawyer - Together Successful.
Here are vital areas where a business lawyer can help you succeed:
Choosing a Name
Business names are like a person’s name. They must stick in people’s minds.
Ideally, your business name must reflect the characteristics of a product to back up what you offer them; for example if you’re selling jewelry then I suggest names along the lines of “Rose Gold” because of the rose gold metal associated with fine jewelry (although this may not work well depending on how specific they are).
A good business name can help tell people who you are from afar. You want it to be where when someone hears your brand’s name, they’ll experience an emotional response which makes them want more – one that feels personal rather than generic.
Choosing a Structure
When you’re ready to start a new business, it’s important that you take the time and research what type of entity is right for your needs.
Do some soul searching about whether or not your new business will be more than just something on the side. Ask yourself, “do I want my reputation as an entrepreneur at stake? Am I willing to accept full responsibility if things go wrong (with both clients and employees)?” This could mean choosing between a sole proprietorship, partnership, limited liability company (LLC), or corporation.
Each kind of business entity comes with its own benefits: one might help protect you from personal liability in case anything goes wrong; others may offer tax advantages such as lower capital gains taxes or fewer restrictions on transferring ownership shares.
Choosing a Registered Agent / Third Party Designee
It can be tough to decide on a legal structure for your business. This is when you’ll want to turn to a registered agent for professional advice.
A registered agent is the one who has all of these complicated legal issues taken care of on behalf of your business, so that you can focus on what really matters.
A great choice to help with this process can be a lawyer (Together Successful), or whoever seems like they’ll do more to meet your needs and keep things running smoothly!
Finding a Location for Your Business
Establishing a physical presence is key, even if you’re working from home. When you’re leasing a commercial office, there are legal and financial ramifications to consider.
Here are some tips from my personal experience. When I need to operate out of my office, and not just do work on the couch or wherever else in my house, one step that’s always important for me is negotiating with landlords so they don’t jack up rent prices when it comes time to renew our lease. Negotiating can be intimidating – but isn’t everything worth your while? It’s good practice at least trying early-on; both parties want what could potentially happen later down the line taken care of as quickly as possible after all.
Don’t make mistakes starting a business – long-term, they can be costly. Get help from a professional who knows how to do it. Get in touch with Houston Business Lawyer today.