We know you have big dreams for your business. Maybe you want to change the world by creating the most amazing, hand-carved, artisan miniature horses the planet has ever seen, making those plastic My Little Pony® “things” forever obsolete. Maybe you envision transforming lives with your wildly wicked words set to music for those in need of dazzling digital marketing. Maybe you’re opening the world’s first Vegan-Keto-Paleo-Gluten Free Italian Pasta Restaurant (wait – that probably already exists).
Regardless of how big or small your business vision is, a great attorney can help you make it a reality. The right attorney won’t just be there when your business is in trouble. They’ll be by your side from the get-go, serving as a mentor, guide, advisor, counselor, and protector during every step of your entrepreneurial journey. Behind every profitable business owner is a kick-a$$ lawyer who understood the entrepreneur’s dream and knew how to insulate it from lawsuits and other issues while helping to identify and leverage business and legal opportunities. The right lawyer is a silent, unseen warrior, working behind the scenes to ensure that you are the hero in your business success story. Because this is not obvious to everyone, we thought we’d take a moment to point out just a few ways that great lawyers can help entrepreneurs become superheroes.
Before you and your buddy from an LLC (Limited Liability Company) online elect S-Corp status, before you even have enough money to pay yourselves, and use the Idaho operating agreement your business partner’s brother-in-law downloaded for free from “The Internet,” why not consult with a business attorney? The right attorney will listen to your reasons for starting or restructuring your business; ensure the entity structure works for your business, revenue, and tax goals; and be sure that your business – and all that crazy start-up paperwork– complies with your state’s laws and requirements.
Gone are the days of doing a deal on a handshake. Why? Because contracts require a “meeting of the minds,” and can you really say you know what is going on in your client’s mind if no one bothered to reduce it to writing? At a minimum, an attorney can help to ensure your contracts are written in such a way that they don’t hurt your business. And, a great business attorney can not only review contracts presented to you by others, but they can also negotiate and draft them, potentially making you money, saving you time, and preventing the inevitable ulcer that accompanies the consumption of too much ibuprofen.
Patents, and trademarks, and copyrights, Oh My! Intellectual property protection just sounds scary, doesn’t it? And for good reason. Researching patents, trademarks, and copyrighted materials to determine whether you can protect your best, biggest, and brightest ideas can be daunting. Also, communicating with the examiners at the USPTO and Copyright offices often requires myriad of confusing exchanges. To ensure your brilliant ideas are protected, be sure the business law firm you retain has an intellectual property lawyer on staff who can navigate the IP maze for you, so you can focus on your strengths: running your dream business!
Regardless of which entity type you choose for your business, dealing with the tax burdens of your business is inevitable. A good business attorney will work with you, your accountant, and your tax advisor to help you file for federal and state registration of your business and the associated taxes. A great business attorney will work with you and your extended team of advisors on a regular basis to be sure you’re saving as much money in taxes as possible, letting you keep more of what your dream business earns. With the right attorney and team, you might just discover that you love tax time!
If you meet with your attorney regularly to be sure they know what is going on in your business, understand your goals, and help you identify opportunities, your attorney can also play a vital role in helping you to foresee the types of lawsuits that might arise from day-to-day operations and to avoid the same. A great attorney will negotiate and draft contracts and other agreements that protect your business from liability, keeping you out of trouble for a fraction of the price it would take you to settle a dispute or take it to court.
When you’re focused on your dream business, it’s easy to overlook the legal stuff, which can then trip you up and quickly turn that dream into your worst nightmare. Because attorneys are trained to spot the legal potholes, loopholes, and black holes that most entrepreneurs miss, especially in the startup phase, their role is as essential as that of . . . air. Okay, maybe not air. But, a great attorney is as at least as vital as your accountant in weaving your business dreams into reality. So don’t leave them out of the equation. Contact a business attorney today.
We at Thrive Law are honored to have represented many Florida businesses and startups from their conception. If you’re looking for a law firm that will partner with you for long term success, not just a one-night-stand, call us at (727) 300-1990 or contact us here.