When undertaking the entrepreneurship process, business attorneys can provide critical insight, along with the knowledge and experience necessary to start your new venture off right.
Today, more Utahns than ever are launching their own small businesses and undertaking entrepreneurial ventures. It is imperative that you follow the proper steps, to ensure that your new company is compliant with all relevant laws and regulations.
Unfortunately, the process can be complex and fraught with risk. For that reason, you will be well-served to trust a business attorney to assist you.
What Is the Entrepreneurship Process?
When an enterprising individual sets out to pursue their own business venture, they must establish the infrastructure of their company.
This typically includes developing a business plan, choosing a name, establishing the entity structure, obtaining business licenses, raise capital and more.
Depending on the type of entity you choose to form – limited liability company, S-corporation, C-corporation, etc. – you need the supporting documentation necessary for filing with the state and for ongoing governance.
During this process, you will be faced with countless decisions that will affect the course of your business now and well into the future. Working with a business attorney will help ensure you make the right decisions and set your venture up for success.
The Road to Entrepreneurship Is a Complex Process
Unless you have extensive knowledge of organizational structures, corporate taxation and related areas of business law – both as it relates to federal and Utah state-specific statutes – you may struggle to determine the right course of action.
Depending on your business model, you may have to rent an office or facility – which means negotiating a fair lease agreement. You may need equipment, furnishings, tech and even an accounting system.
You likely need a federal employer identification number, sales tax licenses and operating permits. You will also need one or more types of business insurance, such as liability, errors and omissions, workers’ compensation, etc.
Based on the type of product or service you plan to offer, your start-up process could potentially be even more extensive and complex.
How a Business Attorney Can Help with Entrepreneurship
What many entrepreneurs discover, once they start down the path to establishing their company, is that they simply don’t know where to start or what to do first.
And that’s where business attorneys can be especially valuable. With the knowledge and experience necessary to establish your new company, working with a business lawyer will ensure everything gets done – and gets done the right way.
Sure, you could spend hours (or weeks) researching and trying to figure it out on your own. However, when you call on the business lawyers at J.D. Milliner & Associates, P.C., you won’t have to invest your own time and effort in trying to decipher something you’ll only need help with once.
Our attorneys can assist you with every aspect of the process, from conception through ongoing governance and compliance. Based in Salt Lake City UT, our firm provides the highest quality legal services with a fair and competitive fee structure. We assist clients throughout northern Utah with all their business law, trust and estate law, contracts and litigation.
Contact J.D. Milliner & Associates, P.C. today to learn more about how our Utah business attorneys can assist you with the entrepreneurship process.