Tired of working for someone else? Have a great idea you think you can grow into a successful business? Maybe you’re planning to purchase a franchise or open a small business with a partner. These are exciting times, but are you sure you’re ready to go out on your own? All the internet research in the world won’t fully prepare you to run your own business in New York—trust us! When you work with Love Law Firm, you can rest assured that your business is legally protected and poised for growth, from conception to your first year of big profits. We have over 20 years of experience in the corporate world, and we will put that experience to work for you.
What Type of Business Are You Starting?
For many entrepreneurs and small business dreamers, discussing the form your new business will take sounds like a lot of legal mumbo jumbo. Should you form a sole proprietorship, partnership, corporation, S-corporation, or a limited liability company? Each has its pros and cons as well as restrictions on ownership, transfer of interests, and the like. Working with a lawyer will help you select the best form of business for your own personal goals. Love Law Firm will go over each option in detail with you and help you choose the structure that will best fit your needs.
When you legally form your business entity, you will also have to choose a name. You may have a great idea, but you will have to take several issues into consideration, including trademark protection and marketing opportunities. Love Law Firm will guide you in the right direction.
Understand New York Law When Forming Partnerships
Many great ideas come from a collaboration between two or more people. Maybe you were the creative one with the lightbulb moment, but a family member has the financial means to get you started. Or perhaps you and a close friend developed an idea together, but are not equally available to grow it into a business. If you are entering into a new venture with partners or investors, it is very important that you establish the business right at the outset, and clearly define each party's rights and responsibilities. When you are in business with others, you will want to be diligent about corporate governance issues—making sure to memorialize decisions, file reports on a timely basis with local, state and federal agencies, and communicate appropriately on the state of the business to the proper personnel. If this last sentence made your eyes glaze over, you should definitely consider bringing a lawyer in to define your partnerships from the get-go. The legal team at Love Law Firm has seen partnerships that blow up and those that flow for years and will bring this knowledge when helping you structure your new business.
Considering a Franchise Opportunity?
Maybe your business dreams didn’t start with a product or an idea, but simply with the desire to be your own boss. Maybe the way to go is to look for a franchise opportunity. Should you stay away from food and buy a UPS Store franchise or bring the first Dunkin’ Donuts to your town or neighborhood? Whatever you decide, you will need clear guidance on the duties and obligations imposed by the franchisor and what your financial commitment will be over time. Don't rely on representations made to you by the other party—obtain your own independent counsel. Love Law Firm can help you cut to the chase when dealing with franchisors.
Build Your New Business on a Solid Foundation With Help From Love Law Firm
With our free initial consultation, you have nothing to lose when you meet with Love Law Firm about your new business idea. Our motto is Build. Not Billed. Our goal is to help you build and grow a business, not to rack up billable hours on legal tasks you could do yourself. Time spent with us today could save you hundreds of hours and thousands of dollars down the road. Connect with us today. You’ll be glad you did.