Do I Need An Attorney To Start My Business?

We advise new business owners to assemble a team. That team typically will consist of an attorney, an accountant, a banker, and an insurance agent. That way, they have a full array of all the financial issues, risk issues, and legal issues. Whether they use these team members on a regular basis or on an irregular basis may change over time, but those individuals should be at their disposal as they’re opening and operating their business. Certainly, it’s advisable to have a lawyer, if nothing else, just to have an initial discussion about the potential legal issues of starting a new business.

What Legal Contracts Are Important In Starting A New Business?

The required legal contracts will depend on the type and the size of the new business. Is the company going to lease any property? Are they going to buy property? Real estate documents might be necessary. Are they going to enter into agreements with vendors or independent contractors? Are they going to have employees at the beginning? All of these require different agreements.

If there are going to be partners involved, we would always advise that they at least have a shareholder or partnership agreement that sets forth out the responsibilities and obligations of all the partners.

What Legal Considerations Are Involved With Making Our First Hires?

There are many different legal issues that come into play with employees. As a best practice, we advise employers to have the same practice from the beginning as they would after they are an established company. Some of those practices include confidentiality agreements, non-compete agreements, nondisclosure agreements, and addressing any overtime issues. Determining whether employees are exempt from overtime or not exempt from overtime and any discrimination based issues are some of the items that initially come into play. If it’s a company that’s going to have employees and grow its workforce, having an employee handbook that outlines these and other items would be crucial.

Do I Need To Be Concerned With Data Privacy Laws In Texas?

In today’s age, data privacy is always a factor to be concerned about. Having a robust IT vendor or IT department to handle these issues is vital. In addition to outside forces, protecting the data from within is also important. This can be accomplished by using agreements that prevent former employees from taking documents/information and sharing or using these documents/information with a new employer and a potential competitor.

What Are The Relevant State And Federal Laws I Should Be Concerned About When Starting A New Business?

In Texas, there is the Business Organization Act that dictates what shareholders can do amongst each other and sets some default rules. This includes rules about advertising and marketing. What you can do and what you can say, legally, while promoting your business differs from state to state and even city to city. Those are the types of issues that we advise small businesses to at least have a general understanding of.

For more information on Need For An Attorney In Starting A Business, a case evaluation is your next best step. Get the information and legal answers you are seeking by calling (281) 277-3066 today.