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What legal steps should I take before starting a new business?

Picture of Chris Battis By   ·  1 minute read

To start a new business, there are several legal steps that you should take to ensure that your business is compliant with relevant laws and regulations. These steps include:

  1. Register your business: Depending on your jurisdiction, you may need to register your business with your state or local government. This will typically involve providing information about your business structure, such as whether it is a sole proprietorship, partnership, or corporation. You may also need to obtain a business license or permit.
  2. Obtain any necessary permits or licenses: Depending on the type of business you are starting, you may need to obtain additional permits or licenses. For example, if you are starting a restaurant, you may need to obtain a food service permit.
  3. Secure financing: Before your business can begin operations, you may need to secure financing. This could involve obtaining a business loan, seeking investors, or using personal savings.
  4. Protect your intellectual property: If your business name or logo is unique, you may want to consider filing for a trademark to protect your brand. If you sell a unique product or service, you may want to consider filing for a patent.
  5. Draft contracts and agreements: Depending on the nature of your business, you may need to draft contracts and agreements. This could include employment contracts, non-disclosure agreements, and client agreements.
  6. Comply with employment laws: If you plan to hire employees, you will need to comply with relevant employment laws. This could include providing workers with benefits such as health insurance and paid time off, as well as complying with laws related to minimum wage and overtime pay.
  7. Obtain insurance: Depending on your business, you may need to obtain insurance. This could include liability insurance, workers’ compensation insurance, and property insurance.

It is important to note that the legal steps required to start a business can vary depending on the nature of your business and the jurisdiction in which you operate. To ensure that you are taking all appropriate legal steps, you may want to consult with an experienced business attorney.