Starting a business can be exciting when the idea first pops into one’s head. It can also be terrifying at 2:00am when one wakes up with hundreds of details swimming about their head. What will it be called? How will it be marketed? How will its product be priced such that the profit margin is advantageous? Who will buy our product? How quickly can we expect to cash flow? What startup costs are needed? You need to talk to accountants, bankers, and yes, lawyers.
A good business lawyer will want to discuss these issues with you, but will also help you decide matters such as 1) what type of entity (corporation, partnership, limited liability company, etc.), 2) if you have partners/co-owners, your agreement with them that governs issues such as roles and responsibilities, equity percentages, and the like, and 3) handle leasing/office space issues. In short, consulting your business lawyer on the front end could lessen the likelihood of needing litigation counsel later.
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