Reasons to Hire A Business Attorney

When a person wants to open up his or her own company, it will be necessary to gather a team of experts including a business attorney. It can be exciting to open one's own restaurant, IT consulting company, dress shop or daycare center. This will be a chance to be your own boss, create a high quality product or service and make money doing something you believe in. While this endeavor will be an adventure, it also carries a large amount of responsibility. Having legal paperwork in order and being in compliance with the laws of the land are crucial items on your "to do" list. Here are some experts you'll need:

- Business attorney: A business attorney will be a professional to have on board from the start. A company will need to form a legal entity such as a corporation, partnership or sole proprietorship. This is important so that the company's finances are kept separate from personal monies. It's also important to have a lawyer available to check over lease agreements of office space and equipment rentals, to advise on employee issues and to guide you about issues such as copyrights, etc.

- Accountant: Your new organization will also need an accountant to help with tax paperwork, obtain an EIN, which is an employer identification number and file payroll, state and federal taxes either monthly, quarterly or annually. Being in compliance with the IRS is a "must do" when running your own company. A CPA might be best for the most complicated paperwork while a bookkeeping computer program or service may be more appropriate for the monthly operations.

- Insurance provider: You're going to need liability insurance, property insurance and more when beginning your org. If you are purchasing a facility, your lender may require that you obtain life insurance on your life with them being the beneficiary. Banks and loan companies will want to protect their investment in your new business and part of the assets is you, the owner.

- Banker: Unless you're rolling in the dough naturally, such as an heir of a millionaire or a recent lottery winner, you're likely going to need some help in the banking department. You may need loans and you'll surely need a bank to hold your savings and checking accounts.

- Realtor: If you're looking for an office building or commercial facility, you'll likely need a commercial realtor to show you properties. This will be true for buying or leasing property.

- Computer support person: Unless you're a tech whiz, you'll want to have a computer support person on speed dial. No matter what type of company a person runs, it's likely that it'll need functioning computer systems and software designed to streamline your operation.

Owning and running one's own coffee shop, dog grooming parlor or toy store can be a fun way to make money as well as your mark in the world. In order to be a success, you're going to need to assemble a team of pros. Your team should include a variety of experts including a business attorney.