Small Business Attorney Austin, TX – When it comes to starting a small business, it can be easy to miss even the most simple legal steps that can ensure the overall success of the business itself, as well as provide a more solid foundation for the business as it continues to grow. Thankfully, there are all sorts of different tips that can be followed in order to ensure that a small business is successful.
Here are four of the most useful legal tips for small businesses to make note of.
*First and foremost, perhaps one of the most useful legal tips for small businesses is to register your company trademark. A trademark is something that is considered to be an intangible asset, and your largest intangible asset is your reputation, which is something that you have always worked hard to build with your customers via amazing customer service and good quality products. In the event that another company happens to be operating a business under the same name as yours, yet they don’t have the same amount of integrity for either customer service or products, this means that your reputation can and likely will be damaged. By trademarking your company, you will be able to obtain the legal right to protect your own reputation.
*Another useful legal tip for small businesses is to protect yourself with written employment policies. Every business has information that is always valuable to the overall operation and success of the business itself. This is something that can range from a customer list, key vendor contracts, or a product trade secret. This is information that you would never want to have exposed; however, you will need to ensure that you have written non-disclosure and non-competition policies that are signed by all of your employees. This is something that will help to prevent any and all former employees both leaving with and sharing this type of valuable information with anyone else.
*One other useful legal tip for small businesses is to always keep in mind that any and all lawsuits are always serious. No one ever wants to be sued; however, ignoring a lawsuit of any kind if always worse than being sued just because you may believe that the lawsuit itself has no merit whatsoever. All lawsuits must be answered no matter what – never put them off. In the event that you end up getting sued, you will need to contact your legal advisor as soon as possible so that they will be able to deal with the issue and help you keep what may be a simple matter from turning into a potential nightmare.
*Another great legal tip for small businesses is to keep your business funds and personal funds separate from one another. When starting your business, you will need to file the appropriate paperwork with the Secretary of State in order to lay the foundation of your overall corporate structure. The best way to avoid personal liability, as well as reduce the potential of tax audits and prevent your personal assets from being at risk from corporate actions is to form either a corporation or limited liability company.
If you own a small business and need legal advice, skilled business attorney Brad Reeves can help. At Reeves Law, the experienced legal team understands the complexities of business and commercial legal processes, and is committed to using their expertise to help you reach the best outcome in your case. If you have questions about how to proceed, contact Reeves Law for a free consultation.