Why You Don’t Want to Be Caught Without a Small Business Lawyer

June 21, 2012 by  Filed under: Management 

People have always longed to be self-employed or to own their own business. With unemployment still on the rise, it has become even more popular. There are a large number of people who get started, but many never make it past the first year. For those that do make it past the first year, most end up failing within just a few years.

There are many factors that determine those that will make it and those that don’t. One of the traps business owners fall into are legal situations. If you are serious about owning your very own business, you should consider having a small business lawyer. If you are already up and running, consider getting one to keep things running smoothly. Here are a few reasons to make sure you are on board with a lawyer for your business.

Being properly incorporated is important. Your legal responsibilities as a business will vary depending on whether you are a sole proprietor, s-corporation, or LLC. Having a lawyer help you choose the best incorporation for your type of business can possibly save you money.

No one likes to hear the word sue, but it happens all the time. Sometimes the situation is one of neglect. At other times, maybe it is poor judgment. In many instances, it may be that you never did anything wrong. Either way, if you end up in court, it is always a good thing to have a relationship already established with a small business lawyer. If it was a simple mishap, they are able to eliminate the situation altogether or at least reduce the amount of money that you must pay.

There are also a number of online businesses that have evolved over the years. Although they have additional legal requirements and responsibilities as an online enterprise, they most often still fall under the small business category. If you have a blog or website that is selling products and services, you will need to be compliant with the Federal Trade Commission (FTC). Not being compliant has cost many fines and even being shut down.

One of the categories that has been hit hard over recent years has been the affiliate marketing division. Often times, it is as simple as knowing to have a statement on your website that reads something like the following, “I am an affiliate marketer and will make a commission when something is sold through this site.” This is just an example of how businesses can be hit hard in fines for not having correct wording where appropriate. This applies whether your business is online or brick and mortar.

Among all of the reasons to make sure you are utilizing a small business lawyers, taxes are one of the most important. You are sure to save money if you have professionals on your side that are aware of the benefits you are privy to as a small business owner. A small business has special tax benefits that many accountants will not be aware of unless they specialize in small business taxes.

So, why have a small business lawyer? You will surely encounter many situations in your business including taxes, incorporation, legal disclaimers and the possibility of being sued, but having a professional on your side before the situations arise will help you manage your legal situations and save your business from unnecessary hardship.

Check out a great business lawyers, business advisory service

Article Source:
http://EzineArticles.com/?expert=Ella_Gebhart

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