4 Mistakes New Businesses Make That Business Attorneys Help Avoid
Irvine business attorneys can help startup companies to avoid making mistakes that could cause problems affecting the organization’s future success. There is a lot to know when starting a business and if the business owners are not 100 percent familiar with how to protect themselves and their fledging company, they could inadvertently set the company up for failure. Brown & Charbonneau, LLP can help to make certain that this does not happen.
Brown & Charbonneau, LLP can provide invaluable assistance to companies of all sizes, including small startup companies. You should get smart legal advice as early as you can in the process of forming your company so you head off problems before they start and so you can set the company on the path towards being successful. Give us a call to find out more about how Irvine business attorneys can help. You can also take a look at the list of four key mistakes listed below that many businesses make when first getting started, so you can avoid these top errors.
Four Key Business Mistakes Startups Make
With so much to think about when a company is getting off the ground, it is no wonder that business owners omit to do certain essential tasks or make strategic errors in the tasks that they do undertake. There are many different guides aimed at helping company owners to head off errors. For example, CNBC listed 10 common mistakes business owners make, while Forbes listed 16 critical mistakes.
Even sorting through all of the advice can be a challenge. This is a big reason why you should consult with Irvine business attorneys who can provide you with personalized legal help. You can also make certain to avoid four of the most common errors made by company owners across many different industries. These errors include:
- Not choosing the right business structure: A company could be structured as a sole proprietorship, partnership, Limited Liability Company (LLC), S-corp, or C-corp, among the different options. Some structures provide much more protection from personal liability than other business structures do.
- Not creating the right contracts and documents: Depending upon whether you have co-owners and how the company is structured, you may need Articles of Incorporation; a shareholder’s agreement; a partnership agreement, and/or a buy-sell agreement. You may also need to enter into an initial lease for a location; may need to secure patents, trademarks, or copyrights for intellectual property; may need non-disclosure and non-compete agreements; and may need to enter into contracts with customers and suppliers. Irvine business attorneys can advise you on what kinds of legal documents you need and can help you to draft enforceable contracts and agreements that protect your new company.
- Not making a comprehensive business plan: A business needs a comprehensive plan to set forth operating goals and a path to profitability. Your business plan can create a roadmap for you regarding the steps you need to take to become a success. Your plan can also be used to help you attract investors and get financing for your organization.
- Not learning about obligations as employers: If you are going to be hiring workers, it is imperative that you know what is required of your company under state labor law and California labor law. You must know labor law rules so you do not find yourself violating worker protection regulations. Labor laws govern hourly wages, overtime rules, when payments must be made, when employees are on the clock, and much more. You also need to make certain that you understand anti-discrimination laws so you do not engage in behavior that could result in an accusation that your company has violated your employee’s civil rights.
Brown & Charbonneau, LLP helps you to avoid these mistakes, and helps you to ensure you do not make any other strategic errors during the initial phases of business development. Our Irvine business attorneys can also advise you as your company grows so you make smart choices at each phase of organizational development. We will get to know your company’s goals and bring a fresh legal perspective to the table.
Getting Help from Irvine Business Attorneys
Brown & Charbonneau, LLP helps the owners of both new and established companies to understand, evaluate, and minimize risk. We also provide advice on legal implications raised by business decisions, and we work with companies to make smart and strategic choices on many different aspects of business operations. Give us a call at (866)237-8129 or contact us online to find out more about the ways in which our Irvine business attorneys can help your company.