Now that you know what entity to choose, let’s look at putting together your team.
You want a professional team on your side who understand your business and work well with you and with each other. You want professionals who can guide you through the startup phase and who can then assist you in growing and expanding your company, deal with contracts and customers, get your message out and protect your assets.
For all the lawyer jokes (and I tell a few myself), please remember that a good attorney can be a lifesaver for your business. From discussing the right entity choice and checking on name availability to handling the formation of the company and filing the required paperwork, your attorney is going to be a big help when you are starting out. You can use your attorneys to help you prepare the documents you will use when running a day-to-day business, including the contracts and agreements you’ll have with vendors and suppliers or customers. Your attorneys can assist you with proprietary information and intellectual property, protecting your ideas and filing for patents or copyrights and trademarks. If you have the misfortune of having a run-in with the government an attorney specializing in such issues can be a very big help. As an overall strategy, for specialized advice, the attorney you choose should be well versed in the field or industry in which your business will operate.
Starting out, as with choosing an accountant and other members of your team, you’re going to want to ask friends and family and other business owners for recommendations and referrals, and interview attorneys to find one who will be right for you and your business. Your current banker, accountant or insurance agent, if you already have such professionals on your team, may also be able to refer you to an attorney who’s right for you.