Startup Legal Checklist for New Business Owners

Startup Legal Checklist for New Business Owners

The number of business startups continues to rise in the U.S. as more people decide to seize control of their own destinies by starting their own companies. But even if you already own a business, you can still benefit from this startup legal checklist to be sure your business is functioning as it should when it comes to the law:

1. Avoid naming conflicts. One of the first steps in establishing a new business is naming it, but before you order your stationery and signage, be sure the name you have selected can be legally yours. You can perform a trademark search for free by going to the U.S. Patent and Trademark Office’s website (www.uspto.gov).
2. Choose the right business structure. Many new business owners choose to operate as a sole proprietorship, but you can’t be sure this is the right structure for your business until you are fully aware of the advantages and disadvantages of each business structure. An experienced business attorney can help you understand if your business will function best as a sole proprietorship, a limited liability company (LLC) or a corporation.
3. Register the name of your business. If you have chosen to operate as an LLC or corporation, your business name will automatically be registered. However, if you choose to operate as a sole proprietor, you will need to register the name of your business by submitting a “Doing Business As” (DBA) application. This will protect your business name in the state where it is registered.
4. Get a Tax ID Number. LLCs and corporations are required to have a Tax ID number, which the IRS uses to track company transactions. If you are a sole proprietor, you should also register for a Tax ID number so you don’t have to share your personal Social Security number with customers or vendors.
5. Apply for business permits. Depending on the nature of your business and where you will operate, you may be required to have business permits from the city, county or state.
6. Learn about employment laws. If you plan to hire one or more employees, you will need to know what your legal obligations are as an employer and implement the proper policies and procedures to ensure you are fully compliant with state and federal employment law.

Business owners seeking to protect their business interests should seek a qualified, competent advisor for assistance. Contact one of the experienced Florida business attorneys at Jurado & Farshchian, P.L., at (305) 921-0440, or email us at info@jflawfirm.com. We offer free consultations to business owners seeking to find the right attorney to meet their business’ legal needs.

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