Business Formation Lawyer Rockville MD
A business formation lawyer Rockville MD entrepreneurs trust at The Law Office of Daniel J. Wright has helped many business owners create a foundation for success. Meeting with an attorney who is familiar with building small businesses is an important way to get your company off to a strong start while minimizing risks in the future. New entrepreneurs are busy making plans, creating products, streamlining services, and figuring out their finances.
By having a legal professional to offer advice during this time may be one of the smartest things you have ever done for your company. A lawyer for business formation can talk with you about how to begin your business, or if it is already set in motion, how to protect it from here on out.
Choosing a Business Structure
Before launching your business, you have to choose a business structure. If you do not establish a formal business entity, then your business will be either a sole proprietor (single owner) or a general partnership (where more than one person owns the business). By law, you and your business are the same, so if your company faces a lawsuit, then you are personally responsible. To reduce liability, your business attorney Rockville MD residents depend on may suggest forming a corporation, limited liability partnership, or limited liability company. It is imperative that you weigh out your options and choose a business structure carefully, as this will impact how your business is taxed, managed, and owned.
Choosing a Business Name
You probably already have business name ideas that you would like to choose from. However, you must keep in mind the potential legal issues before printing business cards, signs, shirts, etc. Each state has rules for names of new businesses, and you cannot choose a title that another company has already chosen. Furthermore, it is very risky to pick a name that may infringe on a business’ registered trademark. A member of our team can explain to you the rules for the state of Maryland and how this may influence the name you choose.
Reducing Risk as an Employer
We understand that reducing risk is probably a priority for you, as there is nothing worse than having to deal with a legal issue that could seriously hurt your business. Employment laws on the federal and state level may apply to your new business, and you may risk penalties, litigation, or fines if you do not abide by them. By having a business lawyer on your side, we can help you take steps to remain in compliance with them. Federal laws include safety regulations, anti-discrimination laws, wages, hours, and more. You may need handbooks and training so you can become aware of these rules and do not accidentally violate them.
Please do not hesitate to call a Rockville business formation lawyer in MD from The Law Office of Daniel J. Wright to learn more about how business laws impact you and what you can do to get your business going strong from the start!