When designing your startup, you are attempting to sell a product or service that is irresistible and irreplaceable to your customers. Startups are known for drumming up interest in the public and transferring that word-of-mouth into rapid growth. It is commonly said that startups are more than businesses; they are visions brought to life.
It’s no wonder, then, that the most popular startups in the world often find success by relying on the practices of experienced business and real estate attorneys. From issuances of licenses to invoking favorable tax treatment to investment negotiations, an experienced attorney is indispensable to a new startup. What follows are just a few ways that a knowledgeable business lawyer can help with your startup.
They Can Identify the Risks
A startup lawyer will help you anticipate legal issues before they become problematic. They can analyze your business venture and offer preventative solutions to some of your greatest obstacles. By advising you on key agreements, your business attorney can save you time, energy, and, most importantly, money. All of which are invaluable to you as you begin your business.
They Can Handle Your Licensing
Fundamental aspects of any new business are registrations, authorizations, and licensing. Your startup lawyer can quickly and correctly handle these basics while you and your team are focused on the future.
They Can Help You Choose Your Business Type
As a founder, you should know there are vast differences between a sole proprietorship, a corporation, a Limited Liability Company (LLC), a partnership, a Limited Partnership (LP) and a Limited Liability Partnership (LLP). By incorporating your business as a separate legal entity, your business attorney can protect you from liability. This can be a crucial step for a young entrepreneur seeking to fund their vision, so that any missteps in the process do not need to wipe out the entire dream.
They Can Assist With Funding
Any founder of a startup is usually thinking about funding from day 1. A skilled business attorney can advise you on the best fundraising or investor options available to you. Crowdfunding, seed investment, and venture capital are all ways in which your business can grow. What’s more, your startup lawyer can advise you on the structure of the funding and whether debt, equity, or a combination of debt and equity is right for your personal and business situation.
At Wallach & Associates, P.C., we are a startup-friendly firm that provides comprehensive real estate and business services to meet any need in St. Louis, Chesterfield, and Maryland Heights, and throughout the St. Louis region in both Missouri and Illinois. Call today at (314) 308-2900.