From startup to IPO, your corporate structure and how you operate will play a big part in your success or failure. Online services may look simple, but smart companies hire corporate counsel to avoid making costly mistakes.
One of the first decisions you will make as a business owner is how the business should be structured. All businesses must adopt some legal configuration that defines the rights and liabilities of participants in the business’s ownership, control, personal liability, life span, and financial structure. This decision will have long-term implications, so you should consult with an accountant and attorney to help you select the form of ownership that is right for you.
If your business is up and running, the guidance of an experienced business lawyer can often ease the “growing pains” of adding staff, attracting investors, or borrowing money. Similarly, your business lawyer should be at your side to watch out for trouble ahead, and show you the steps to avoid it.