Maybe you're thinking about starting a new business? Perhaps your business is already up and running? While jumping into entrepreneurship is exciting, it can also be stressful. There are a variety of different issues and responsibilities which you'll have to handle.
Many of the responsibilities you'll encounter on your journey are legal in nature. Though you can try to tackle these responsibilities on your own, it might be wise to have a Glenview business lawyer provide you guidance.
Wondering if you should hire a business lawyer near O'Hare? Here are five reasons to do so.
1. Choose the Correct Business Structure
In the State of Illinois, when you start a business you have to organize your business under one of the many business structures made available by the state government. The business structure you choose can have a significant effect on your responsibilities as a business owner, as well as on the amount of taxes which you must pay.
In order to choose the right structure for your business, it might be wise to consult with a business lawyer. He or she will be able to determine whether your business is best structured as a sole proprietorship, limited liability company, tax-advantage S Corporation, or otherwise.
2. Properly Pay Your Taxes
This much is simple: taxes can be complex. This is doubly true for businesses. Therefore, in order to ensure that your business is paying the legally appropriate amount of taxes, it is wise to utilize the services of a business lawyer, and one convenient to you near O'Hare.
A business lawyer will inform you of the appropriate taxes you have to pay, ensuring that your company is complying with the law but paying the legally minimum amount of taxes.
3. Put Together Iron-clad Contracts
When you run a business, you have to deal with a number of different customers, clients, and partners. To formally establish business relationships with these individuals, it is a very good idea to have signed, legally-binding contracts. Contracts will keep you out of legal trouble and will allow you to carry out business with few legal obstacles.
How do you draw up these contracts? It is our recommendation that you work with a business lawyer. He or she will utilize proper legal language to ensure that your contracts are iron-clad and legally binding.
4. Treat Employees Lawfully
If you're a business owner who manages employees, you have a legal and ethical responsibility to treat your employees according to applicable labor laws. Should you treat your employees in an improper manner, you could expose yourself to legal problems, including unwanted cost, additional time and legal expense. This is something which you clearly want to avoid.
By having a business lawyer assist you, you will always be cognizant as to whether or not your decisions and actions regarding your employees are legally sound.
5. Protect Your Intellectual Property
Somewhere along the line, you are bound to create something original and unique for your business. Belonging to your business and only your business, this creation is known as your intellectual property. To ensure that your intellectual property is not stolen or infringed upon, you will have to have it legally protected.
This is where a business lawyer can help. A business lawyer will be able to file for protection for your intellectual property, wading through paperwork and fees, and expediting the process as much as legally possible.
Work with a Reliable Business Lawyer Near O'Hare
What do you think? Interested in working with a business lawyer, particularly one conveniently located near O"Hare Airport? If so, and if you're looking for a reliable one, the experts here at John J. Pembroke & Associates are the people to see.
Our team of attorneys has worked with a number of different businesses, guiding them through turbulent legal storms, and helping them handle everyday legal tasks.
Contact us today to schedule an appointment!