Starting a new business can be an exciting venture; however, there are many legal and financial aspects entrepreneurs need to be aware of to avoid making critical and catastrophic mistakes. For example, new business owners need to understand what to do if their business is sued, how to obtain a business permit, and crucial pieces of the process when creating a new enterprise. Consulting an attorney before you begin can increase your chances of success. An attorney can help you prepare for issues before they become serious problems and answer any questions you may have.
An Experienced Business Attorney Can Also Help You
Choose the best way to structure your business.
There are many ways you can structure your new business, but a limited liability corporation (LLC) or a sole proprietorship are the two most common. A sole proprietorship may be the most popular and simplest form, but an LLC may provide legal and tax advantages. A business attorney can discuss the pros and cons of each type and help you make a decision that’s best for your business.
Explain how federal and state employment laws affect you.
Depending on the type of business you start, you may have to deal with anti-discrimination laws, health and safety regulations, wage and hour laws, and other requirements. If you aren’t aware of these rules or don’t comply, you could face serious penalties and legal issues. An attorney can help determine which laws pertain to you, and what you have to do about them.
Do You Need To Speak To A Rhode Island Business Attorney?
If you need to speak with an experienced business attorney please contact us online or call our Cranston office directly at 401.946.3200 to schedule your free consultation. We help business owners in Providence, Warwick and all areas of Rhode Island.