Startup Company Lawyer Virginia
A startup company lawyer Virginia entrepreneurs refer to for guidance and support has the ability to ensure that you can make critical decisions needed during the initial phases of your business. There are several reasons to receive the assistance of a lawyer when starting their own business. Taking the time to find a lawyer like the professionals at Dale Jensen PLC, Law Firm can further develop your startup.
Understanding a Startup Company
All businesses start with a dream. A startup company is the beginning stages of starting a business. During the initial phases of a startup, the founders of the business aim to develop a business plan and gain investors. Typically these businesses surround an invention, idea, or product. Entrepreneurs carry a heavy load of developing a business plan, mission statement, and raising capital to fund the startup. It’s important to know that you shouldn’t make these decisions without guidance from a lawyer.
Reasons to Consider a Startup Lawyer
Engaging in the services provided by a business formation lawyer in Virginia right from the start can provide you with the experience required to ensure that you develop your business in a way that sets it up for success. Working with a lawyer can provide several benefits, such as:
Developing a Legal Entity
One of the most critical components of a startup is developing the legal structure for the business. Choosing the legal entity for your business will drive your business’ future and how it can function in the months and years ahead. Your lawyer will listen to your needs and work with you to determine the most appropriate business formation that considers tax strategies, liability, and protection of assets. Common examples of legal entities are:
- – Limited Liability Companies
- – Corporations
- – Partnerships
- – Sole Proprietorships
Developing a Business Plan
The business plan that you develop will act as a roadmap for your business. Business plans outline both the immediate needs of your business and your long term goals. It is a way of outlining a strategy that engages potential investors by describing your mission and business objectives. Typically, with guidance from our Virginia lawyer, a business plan might include:
- – Executive Summary
- – The Legal Structure
- – Business Entity
- – Type of Business
- – Market Analysis
- – Descriptions of Products or Services
- – Leadership
- – Financial Plan and Projections
Developing an idea into a successful business will require tenacity and hard work. To see your plan through, you will want to engage in the services that a business lawyer can provide.
Finding the Right Lawyer
While you may believe that you can endure the startup process on your own, having guidance from a professional is key. While you may have a great idea, you may find that even great ideas can be challenging to bring to fruition without an experienced lawyer. Finding a lawyer to work for you is essential, so you should spend time researching lawyers with startup experience. Take the time to:
- – Research lawyers in your area
- – Ask business colleagues for recommendations
- – Meet with prospective lawyers
- – Prepare for consultations with a list of questions
- – Make sure that you have an idea of their experience and fee structure
Starting your business can feel like a leap of faith. There can be a lot riding on the success of the business. Dale Jensen PLC, Law Firm are professionals who are prepared to help you with your startup. Contact our Virginia startup company lawyer to get started today!