If you are thinking about starting a business in Southwest Washington, it’s natural to feel excited and a bit intimidated by this endeavor. There are several steps you need to take to ensure that your business enjoys a solid foundation from the start. While many people launch a small business on their own, consulting with a knowledgeable Vancouver business law attorney is a great way to set you and your business up for success. Here are some important questions to ask your business attorney as you prepare to move forward with starting a small business.
1. What Business Entity Is Right For Me?
When you form a small business, you can decide which business formation best suits your needs. Business entities include sole proprietorships, partnerships, limited liability companies (LLCs), corporations, and more. Each entity has its own advantages and potential drawbacks, so it’s often helpful to work with a business attorney to determine which entity may work best for you. Factors such as the number of employees you plan to have, tax considerations, and your desire for personal liability protection can help your attorney recommend a business entity that supports your goals.
2. What Documents Do I Need to Get Started?
There is a considerable amount of paperwork involved when you launch a new business. While you can locate many of these documents online, working with an attorney can ensure that you complete the necessary documents accurately and file them appropriately. Additionally, your attorney can help you draft or review your operating agreement or employment policies handbook to minimize the risk of misunderstandings or legal disputes arising in the future.
3. How Can I Best Protect My Business?
Launching a new business is an exciting time, and you’re probably focusing on the bright future your business will enjoy. However, obstacles and disputes can and do arise, so it’s essential to prepare for how you will navigate and resolve these challenges when they occur. Your business attorney can help you implement dispute resolution clauses in your business agreements, giving you a clear roadmap for how you will address legal issues in the future. Essentially, your business attorney will serve as a crucial set of eyes to review the key documents, allowing you to start your small business with greater confidence.
If you have questions about your small business in the Vancouver area, call John L. Davis, PLLC, today at (360) 597-4740 to speak with a knowledgeable business attorney.