Often times, people who wish to start, purchase, sell or operate a business feel they may not need a lawyer or cannot afford one. However, the complexities of Colorado and metro Denver business laws and regulations often make it necessary to have one. Moreover, a business lawyer often can save you both time and money. The firm can assist you in numerous aspects of starting, buying, selling or running a business:
- Choice of entity: this could be a C corp or S corp, which have different tax implications; a limited liability company (an LLC, which is the most popular entity for the small business owner and often the best choice); a sole proprietorship; a general partnership; a limited liability partnership; a limited partnership; a limited liability limited partnership; or a limited partnership association. The entity you choose has numerous tax and legal consequences, so it should be selected carefully.
- Licensing and regulation issues: some businesses are heavily regulated. They need various licenses and must comply with state department regulations, for instance. Numerous other businesses are subject to regulations that they must follow in order to start or continue a business.
- Succession planning for businesses: people often choose to sell a successful or struggling existing business, or they may not know what to do when a person who is running a business is ready to retire or passes away. The firm can assist in this process through the formation of contracts such as buy-sell agreements and other instruments.
- Employee issues: in these days of frequent misunderstandings and lawsuits, it’s very important to have employment contracts. Proper contracts and employee manuals may end up saving you a great deal of money in the long run.
- Financing and start-up: if you are starting a business and need help with financing for it, the firm can help guide you through the process by assisting you with a business plan and other documents you may need to secure a loan.
- Trade secrets and non-compete agreements: you want to make sure that the unique parts of your business are properly safeguarded.