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Answers to Your Startup Legal Questions

Don't let red tape boggle your mind. Here's how to handle some common legal dilemmas.
December 3, 2005
URL: http://www.entrepreneur.com/article/59092

I've received quite a few start-up legal questions, and this month I'm going to address some of the more common ones.

Before I do that, though, let me give you some advice that anyone who's ever asked me a legal question has received: You need a good attorney. If you're going to go to all the time, trouble and expense of starting a business, you need to make sure your company is structured so that it protects your interests and fits your goals. In addition, if you ever have a legal problem, you'll need someone knowledgeable to advise you. Attorneys are not as expensive as you might think, and the value you'll get is significant. For more information, check out " Developing a Solid Relationship with Your Attorney ."

Now, let's take a brief look at some common legal startup questions:

Remember, tax and corporate laws change all the time and can vary significantly from state to state. If you're going to be successful in your business, you'll need an attorney on your team who can keep up with changes in the laws and tax codes and advise you as you move ahead in your business. This will reduce the chances of some unknown issue blindsiding you, and will also save you money as you use those laws and codes to your best advantage.