New and emerging businesses have a world of potential before them as they set out to stake their claims. At the same time, they are particularly vulnerable to bad business and legal decisions that could set the stage for their own eventual demise. Start-up and early-stage companies face unique challenges that will ultimately come to define them. Having a knowledgeable attorney is essential to charting a path to success.
SederLaw’s Business and Corporate Law practice has the skill, ingenuity, and experience it takes to advise new and expanding companies on their legal rights and obligations. We’ve worked with businesses across a broad spectrum of industries to help them start building their legacies.
Legal Challenges For New Businesses
Beginning with entity formation, start-ups, and early-stage companies must make important legal decisions that may have consequences for as long as they stay in business. Making the right choices can set the company on a firm footing and promote healthy growth. However, the wrong decision can create unnecessary legal problems and potentially open the door to liability.
It’s not enough to hire just any attorney. Lawyers who don’t regularly practice in the areas of business and corporate law will likely not have the skill set necessary to provide competent counsel. With so much on the line for your budding business, you deserve a law firm that knows firsthand what circumstances you face and how to overcome them.
How We Help Business Start-Ups And Early-Stage Companies
Our law firm has developed a reputation for not only providing seasoned legal advice but for being a trusted and loyal partner to our clients. Before your doors even open, we’re there to guide you and answer whatever questions you may have. These are some of the services we offer to start-up and early-stage companies:
- Incorporation and entity formation. One of the first choices that businesses must make is what type of legal structure they will have. Most companies in Massachusetts will choose to organize as a corporation, limited liability company (LLC), or partnership. There are differences among these entities regarding liability, taxes, and other obligations.
- Licensing and registration. Businesses are required to register their entities with the state of Massachusetts. Depending on the nature of your business, you may be required to secure special permits or licenses that allow you to operate.
- Corporate governance. Once your business is set up, it will need to adopt corporate governance documents. These may include articles of incorporation, an operating agreement, a partnership agreement, or others. The purpose of these documents is to set forth, among other matters, how the business will be run and who will be in charge.
- Financing and investments. How will your business raise capital? What steps will you take to attract investors? There are rules that govern finance and investment activities. Our firm has experience handling private equity, mezzanine, venture, hedge, and other types of financing.
- Contracts. As you operate your business, you will form agreements with vendors, suppliers, and other third parties. These agreements will require well-written and enforceable contracts, which in turn require a thorough understanding of contract law and negotiations.
- Intellectual property. Your company will likely use and create intellectual property in the form of patents, trademarks, copyrights, and trade secrets. The right law firm will be able to handle all aspects of intellectual property law, from licensing and registration to maintenance and enforcement.
- Employment matters. This category covers a broad range of employment issues, including but not limited to employment contracts, workplace safety, and health, wage, and benefits, and dispute resolution. One common error that new companies make is treating someone as an independent contractor when under the law that person is an employee.
- Mergers and acquisitions. As your company grows, you may wish to acquire and merge with other businesses. Mergers and acquisitions are potentially rewarding but carry significant legal risks. We help with each step including due diligence, negotiations, and finalizing the purchase and sale contract.
- Securities. Before your company can offer securities, it must properly register with state and federal agencies. Our firm can manage everything from registration and oversight to compliance requirements from the Securities and Exchange Commission (SEC), the Financial Industry Regulatory Authority (FINRA), and other governmental agencies.
In What Ways Can a Lawyer Assist an Entrepreneur When Starting a Business?
A business lawyer can be a valuable asset for entrepreneurs embarking on their business journey. They can assist in structuring your business, whether as a sole proprietorship, LLC, or corporation, ensuring compliance with all legal requirements. Additionally, they can draft essential contracts, such as partnership agreements or employment contracts, to protect your interests and provide guidance on intellectual property matters.
What 4 Things Should You Consider When Choosing the Right Business Start-Up Lawyer?
When choosing the right business lawyer, consider the following four crucial factors:
- Expertise: Ensure the lawyer specializes in business and corporate law, with a track record of handling cases and issues relevant to your industry and business structure.
- Experience: Look for a lawyer with years of experience in advising startups and established businesses, as their insights and familiarity with common challenges can be invaluable.
- Compatibility: Assess whether you have good rapport and effective communication with the lawyer, as a strong working relationship is essential for successful collaboration.
- Cost: Discuss fee structures and billing methods upfront to ensure they align with your budget and expectations, whether it’s hourly rates, flat fees, or alternative arrangements.
How Can a Business Start-Up Attorney Help Determine What Legal Structure is Best for a Business?
A startup attorney can help you determine the best legal structure for your business by conducting a thorough analysis of your specific needs, goals, and circumstances. They will consider factors such as your business’s size, industry, financing requirements, liability concerns, and long-term objectives. By discussing these aspects with you, they can weigh the pros and cons, and provide tailored advice on the most suitable structure that aligns with your business model and legal requirements, ensuring you make an informed decision for your startup’s success.
How SederLaw Can Help
Our legal practice is built on serving the individual needs of every client who walks through our doors. We believe, however, that having a firm grasp of business law is only the beginning of that service. Our start-up attorneys are experienced in all facets of business and corporate law. From software and information technology to professional and financial services, and everything in between, we have you covered.
Several of our lawyers are entrepreneurs and business owners themselves. Our team appreciates the issues you will encounter as you start and grow your business. We pride ourselves on developing creative and cost-effective solutions that will help your company achieve its long-term goals.
Contact Our Business Start-Up Lawyers And Early-Stage Companies Attorneys Today
If you have a start-up company or you are in the early stages of assembling your business, connect with us. We can discuss our legal services and the options that you have. Call our offices.
SederLaw helps clients with start-up law in Worcester from their primary office as well as clients throughout MetroWest from their Westborough office.
