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Forming a business involves more than just filing paperwork

If you are thinking about forming your own business, you are likely concerned about three primary issues. First, you are likely concerned about the financial investment necessary to get your business off the ground. Second, you are likely concerned with numerous matters related to the operation of your business. Third, you are likely concerned with the legal paperwork you need to file in order to get your business recognized and protected.

Thankfully, speaking with an attorney experienced in business formation and planning can help you to manage this third concern. However, it is important for you to understand from the outset that your business will likely require more legal assistance and guidance as it grows. It is fine for you to speak with an attorney initially about filing legal paperwork related to your business formation. However, your business-related legal obligations will not end after this initial round of paperwork.

As your business grows, so will the number of legal issues you are compelled to consider. For example, if you begin your business by yourself but are so successful that you need to hire employees, you will almost certainly benefit from speaking with an attorney about all of the laws you will need to comply with in regards to hours, wages, time off, taxes, benefits, safety training, discrimination considerations, etc.

You will additionally need to explore any federal, state and local laws related to permits for everything from waste disposal to urban agriculture, depending on the nature of your business. Therefore, it is important to make sure that you retain the services of an attorney who will fit your business’s needs not just initially but into your business’s future.

Source: Findlaw Free Enterprise, “3 Legal Questions Every Small Business Owner Should Ask,” Le Trinh, June 25, 2015

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