The first step in forming any business should be to pour an industrial-strength legal foundation. Making perceptive decisions early can save the business thousands, if not millions of dollars in the long run. Should it be a LLC? A partnership? A sole proprietorship? A Corporation? Do new rules apply as the company grows? What accounting rules should apply? What is the responsibility of corporate officers? What’s different about retail vs. service businesses? The list goes on.
Some of these are basic business questions the client has already answered, but it’s comforting to have counsel from someone who not only can help set the business on a solid footing, but who has witnessed the adverse consequences encountered by businesses owners who didn’t follow sound legal practices. Business law changes frequently, especially in California, and having a team member who keeps current with business law is a real asset.
The same applies whenever a contract is involved, be it real estate, a third party agreement or a simple business transaction. You may agree with what a contract says, but a good business lawyer may be able to tell you what it does not say, and errors of omission can be the most devastating kind. Today’s business climate promotes confrontation and litigation, and arming an individual or a company with a knowledgeable resource is always a good idea.
