**Starting a Business: 10 Essential Legal Tasks**
As a new entrepreneur, one of the most important tasks you’ll face is ensuring that your business is compliant with all local, state, and federal regulations. Addressing legal matters as soon as possible is crucial to the success of your venture. To help guide you through this process, we’ve compiled a list of 10 essential legal tasks that should be handled right away when starting a business.
###Set Up a Company Mailing Address
– It’s important to set up a company mailing address, even if you are a remote business without a physical location.
– This address will be used in all email correspondence and legal documents.
###Check for Preexisting Trademarks
– Always check for preexisting trademarks when creating your brand or developing a product to avoid potential legal trouble.
###Find a Good, Experienced Lawyer
– A good lawyer who understands corporate law, finance, and mergers and acquisitions can help guide you through the complexities of legal matters.
###Establish the Business as an LLC or Corporation
– Establishing the business as a limited liability company (LLC) or corporation is essential for obtaining a federal tax ID and other key financial elements.
###Put Financial Agreements in Writing
– Always put financial agreements in writing to avoid misunderstandings and potential conflicts in the future.
###Publicize Your Company Legally If Necessary
– Determine if you need to legally publicize your company, as some cities and states require business owners to do so.
###Understand Your Estimated Tax Payments
– Talk to a CPA about your estimated tax payments, especially if you offer professional services.
###Ensure You’re Following the Right Payment Rules
– Comply with regulations governing how you can accept payments from your clients, especially if you work with clients from other countries.
###Register Your Business Name
– Once you’ve chosen a name for your company, register it as soon as possible to prevent any potential conflicts.
###Obtain Any Necessary Licenses
– If you reside in a country that requires a business license, obtaining one should be one of your first tasks.
By addressing these essential legal tasks right away, you will set a strong foundation for your business and help avoid potential legal issues in the future. Remember to seek guidance from legal professionals as needed to ensure that your business is in full compliance with all regulations.
