How to structure your business is one of the earliest challenges an entrepreneur will face. If you already have a business formation lawyer, you likely understand the potential options. But for many entrepreneurs, determining the legal structure of the business can easily feel overwhelming. Here are some of the reasons to speak with a McKinney attorney before incorporating a business.
Primary Reasons for Hiring an Attorney to Incorporate a Business
Incorporating a startup company is brave. The process can be daunting, but also extremely rewarding if you play your cards right. However, it’s difficult to do that without access to a hefty dose of legal know-how. Hiring an attorney to help incorporate your business might not be necessary, but it’s certainly advisable. Here’s why:
Many People Fail to Finish the Incorporation Process
One thing lawyers often find when they come to a company later in its life is that the incorporation process was never completed. If you want to see the process all the way through, let a lawyer handle the paperwork and walk you through each step until completion. Aim to seek out a business formation lawyer from the very start, and you’ll reap the rewards as your company progresses.
An Attorney Can Help You Decide on the Best Structure for Your Company
At the beginning of the process, you might not have a clear idea about where your company is going. This can make it difficult to plan for the future and select the best structure for the business. An attorney, on the other hand, will have experience with several business incorporation types and will be equipped to help you make smart decisions, even if you’re new to the incorporation process.
It’s Easy to Miss Steps on the Business Incorporation Checklist
Between going over all of the business corporation documents, paying various fees, and sending things in to the state, it’s easy for things to fall through the cracks. Although you can take care of all these tasks on your own, having a business attorney on hand to help with the paperwork and checklist can give you invaluable peace of mind.
Drafting and Reviewing Documents
Legal documents such as articles of incorporation, bylaws, shareholder agreements (and many others) are vital for any corporation. An attorney can draft or review these documents to ensure they suit your business needs and are legally sound. As an incorporated business, your paperwork must be submitted according to scheduled timeframes – and of course, it must be accurate .
Compliance With Laws and Regulations
Because the rules for incorporating a business are often complex, business incorporation requires extensive legal experience. An attorney can ensure your business meets all regulations, preventing potential legal issues down the line. This process includes registering the company with all necessary government agencies. And as compliance demands extend beyond the initial formation period, building a relationship with a business law attorney means you’ll be prepared for all future legal challenges.
Business Law Attorneys Serving McKinney and North Texas
Lucé Law, PC helps clients with business formation, incorporation, contracts, litigation and much more. To discuss how we can help your organization, contact our team today. Call (972) 632-1300 or request a free legal consultation now.