Lawyers You Might Need to Consult When Starting a New Business
When starting a new business, you would do well to consult with a variety of lawyers, so that you know your business is operating legally and you know what legal regulations affect your business even before you open your doors. Since lawyers usually have specialities that allow them to advise on certain areas, note a few different lawyers you might need to consult when starting your business, and how they can help you.
Commercial law deals with contracts, banking, and how goods are imported and exported. If you need to write up contracts for partners, vendors, customers or clients, or need to know the laws concerning the movement of goods in or out of the country, a commercial lawyer can advise on best practices for these. He or she can then also draw up all that paperwork for you and may also be able to negotiate the terms of such contracts. A commercial lawyer will also note if you need additional assistance, such as from a freight forwarder or customs broker when moving goods in and out of the country.
2. Liability law
When you create any type of product that is resold, or when you open your doors to the public, you can and will face potential liability. Anyone who is injured on you property may have grounds to sue, and especially if you're negligent about the upkeep of property. Creating any product, whether that's foodstuffs or even a new building construction, can also make you liable if such a product is not safe, is not labelled properly or includes any type of false advertising, or if your manufacturing or construction process does not follow certain local regulations.
A liability attorney can advise on all ways that your business may be liable for damages suffered by any client or customer, and also advise on the insurance policies you may need for maximum protection for your business.
3. Tax lawyer
An accountant can tell you the best way to deduct costs and depreciate property and equipment so as to save on your tax bill. However, a tax lawyer can advise you on areas outside their expertise, such as international tax costs and obligations if you do business outside the country, and how to open offshore or other accounts to in order to reduce your tax bill even more. Their legal advice can mean that all your tax shelters and tax havens are set up legally so that your business assets are protected.
