If you are just starting a business, you are probably doing many things at once. Legal issues may or may not be at the top of your mind. But here are some common issues we find entrepreneurs wishing they had addressed earlier.
Corporate formation: why and how to incorporate, and whether an LLC or S Corp is the right structure for your business. Both offer the same legal protection, but have different compliance and tax implications. For most startups, unless you already have substantial revenue, an LLC is the most appropriate form to begin with.
Protecting your brand in the early days through trademark registration. Once you start using a name or image in your business, you are eligible for federal trademark registration, which will allow you to protect your brand from others who may have confusingly similar names or logos. Trademark rights are a "first in time" set of rights, so the earlier you do this, the better.
Understanding insurance needs to protect your business and personal assets from risk. The corporate form protects your personal assets, but you should also be protecting the assets of the business. We have referral relationships with commercial insurance agents who have extensive experience working with new companies, and would be happy to connect you.
Knowing how to structure employment policies and human resource functions to limit legal risk. As soon as anyone starts providing services to your business as an independent contractor or an employee, you should consider consulting with an employment attorney. Labor laws in Massachusetts are strictly enforced, and change from time to time, so it is a good idea to get set up right in the first place.