The choice to retain a Texas LLC attorney is often made by immediate financial concerns rather than sound business judgment. Online legal forms often give the illusion that legal consultation is no longer necessary if the appropriate forms and FAQs can be found on the Internet. Certainly there are some forms that can be downloaded and used without fear—a Bill of Sale, would be a good example. However, even a freelancer’s contract should generally be reviewed and customized should the freelancer ever need to litigate or even take someone to small claims courts. Are attorney’s necessary for starting a small business? No, but they are a good idea. Here’s why:
An attorney can help choose the right business entity
The type of business entity you choose can have a direct impact on your taxes, how you employ people or compensate them, as well as, your personal liability should their be legal issues with the business. Having an attorney steer and guide you in making the right decisions when it comes to your business model and tax entity can mean thousands of dollars saved over time.
An attorney can help you choose whether to buy a business or start one
Not all would be business owners need to start a business from scratch. Many have the option to buy an existing business and don’t even realize it. In some cases, it is not only cheaper but more prudent to buy out a business (even a failing one) than to start one from scratch. Attorneys know this and will often recommend this to their clients.
An attorney can help avoid issues of involving regulations
The US is a highly regulated society and even lawyers have difficulty keeping up with the mass amounts of new statutes and regulations imposed on people and business. Attorneys help to ensure that you business is up to code, meets all regulations, and ensures that you have all appropriate licenses.
The decision to hire a Texas business attorney is a personal one, but most people will find that the current environment for businesses does require legal assistance to ensure that they are protected from civil or criminal complaint.