By Laura Duggan
Getting expert legal help to guide you through the early stages of formation and funding, and then helping you create a perfect exit, is part of a great business strategy.
A man walked into a lawyer’s office and inquired about the lawyer’s rates. “$50.00 for three questions,” replied the lawyer. “Isn’t that kinda steep?”, asked the man while dolling out the $50.00. “Yes,” answered the lawyer, “what’s your third question?”
Here are our first two questions: Do you really need legal advice if you are starting a new business? Can you afford a lawyer if you are just starting out?
The answer to both questions is yes. You do need legal advice, and, it doesn’t have to break the bank. It is true that as the company advances in complexity, issuing stock, allocating assets, merging, etc, the legal fees can escalate. At the same time, starting out on the right foot lets you make smart decisions that will save you time and money in the future. If you have any intention of growing your business beyond a mom-and-pop operation, getting good legal advice is a must.
Spartina.com offers insights, tools and suggestions in these legal areas:
- Incorporation and Legal Structures
- Selecting a Business Law Firm
- Storing and handling legal documents
- Setting up a board of directors
- Intellectual Property Rights
- Forms and Contracts
- Licenses and Permits
- Insurance and liability
Related sites: Small Business Law