Starting a business can bring good ideas to the marketplace, provide profits for the successful and
adventurous entrepreneur and cut dependence on working for others. Marketing your good idea
is going to require a solid business plan and legal support. Estimates vary, but statistics show that
many new businesses fail during their first year.
To give your new business the best chance of succeeding, it is important that your business plan
account for the myriad of legal considerations any new business will encounter. For example,
determining the best business form for the new business. Should it be a sole proprietorship, a
corporation, a partnership, a Limited Liability Company (LLC) or some other form? The type of
entity format will determine liability, tax rate, and formalities to maintain the business. Other
considerations may include the use of a non-disclosure agreement or confidentiality agreement,
employees versus independent contractors and obtaining necessary permits and licenses. The type
of insurance the business will require is also important. Is a copyright or trademark required?
Throughout the entire process, there are legal considerations and a business lawyer
can help. My
office also advises a consultation with an accountant.
In addition to meeting with a lawyer, you may want to consider some of the information on the
web. A good resource to explore is the Pennsylvania Department of Revenue Guide at the
following link: http://www.pabizonline.com/starting-a-business/Documents/rev-588.pdf
If your business needs start-up monies, there are several options. See http://www.kickstarter.com/
While my office does not endorse any of the above sites, these sites show that there are ways to
start a new business. In every business, whether you are starting, maintaining or ceasing
operations, there are legal requirements and the advice of an experienced business lawyer is
valuable to avoiding costly mistakes and for making informed choices. A business lawyer can
advise as to which options are best for your particular business.
At my office, we have helped small businesses get started and provided advice as they continued
to grow. If you have a legal concern regarding a business, please contact my office.
The information contained herein is for informational purposes only and is not
intended to substitute for the advice of an attorney. Please visit goldmanjustice.com