Business Lawyer Fairfax, VA
Business lawyers Fairfax, VA business owners trust can be extremely helpful to you if you’re starting or running your own business. A lawyer can assist you with setting up your business legally and help you with contracts, negotiations, intellectual property and more. If you are looking to start a new business, it’s important to consider your legal obligations from the start and work with an experienced Fairfax business lawyer to guide you through the process of forming a corporation or LLC and choosing an appropriate structure for your business. Contact a business lawyer at Mahdavi, Bacon, Halfhill & Young, PLLC for help today!
Table Of Contents
- Choosing The Best Legal Structure For Your New Business
- Choosing The Best Legal Structure For Your New Business Infographic
- Protect Your Company From Lawsuits
- Safeguard Your Company’s Name
- How Our Firm Can Help
Choosing the Best Legal Structure for Your New Business
One of the first “new company launch” steps you’ll need to take with the assistance of a business lawyer Fairfax, VA business owners trust involves choosing a legal structure for your new venture. Every company in the U.S. is structured in one of four broad ways. There are nuances and hybrid models – like limited liability partnerships – that may best fit your needs. But, generally speaking, if you’re familiar with the pros and cons of the four major structures, you’ll have a strong foundation upon which to discuss your options with the experienced legal team at Mahdavi, Bacon, Halfhill & Young, PLLC.
Option One: Sole Proprietorships
Sole proprietorships are the easiest companies to form, as states usually don’t require that owners of sole proprietorships register with the state in any formal way. These businesses may even “spring into existence” as soon as someone starts working for themselves in an independent contractor gig job or by offering some service on a client-to-client basis. If you operate a sole proprietorship, you’ll record your business profits and expenses on your personal tax return each year. You’ll have maximum control and flexibility over how your business is run. Just be careful. If your business is sued or you run up business debts, your personal assets won’t be protected from seizure in the event that the company is liable for a debt, judgment, or fine.
Option Two: Partnerships
Our Fairfax business lawyer team may recommend that you form a partnership if you want the managerial flexibility and control that a sole proprietorship affords but your company will be owned by more than one person and/or entity. Like a sole proprietorship, the most basic partnership structure doesn’t afford any personal liability protection. However, a limited liability partnership does offer some protection, so you’ll want to discuss this option with our team if it interests you. Like sole proprietorships, partnerships are taxed on the personal tax returns of their owners and are not subject to rigorous reporting or government oversight.
Option Three: Limited Liability Companies
Limited liability companies are the “middle ground” option between the flexible yet risky sole proprietorship and partnership structures, and the rigid yet safer corporation structure. Like sole proprietorships and partnerships, LLCs offer flexible managerial and operational structures. Like corporations, LLCs offer limited liability protection for those who own them. LLCs can be taxed either on the personal returns of their owners (called members) or they can be taxed as separate entities like corporations.
Option Four: Corporations
Finally, if you’re interested in launching a large company that is set to expand rapidly, you may want to enlist the services provided by the Mahdavi, Bacon, Halfhill & Young, PLLC team to help you form a corporation. Corporations are rigidly regulated and must comply with numerous reporting requirements at the state and federal level. They are also subject to a rigid managerial structure. But, if you don’t mind sharing control over your company’s operations with a Board of Directors and you want maximum personal liability protection for yourself and other corporate shareholders, our Fairfax business lawyer team may recommend that you take advantage of the corporate structure for your new company.
CHOOSING THE BEST LEGAL STRUCTURE FOR YOUR NEW BUSINESS INFOGRAPHIC
Protect Your Company from Lawsuits
A business lawyer can help you protect your company from lawsuits by ensuring that your contracts are airtight and that you are in compliance with all relevant laws. If someone does sue your company, a business lawyer will be there to represent you in court and help you navigate the legal system. The vast majority of lawsuits never go to trial, as either one side or both sides settle. The number of cases that go to trial has been steadily declining for years now – so don’t think of it as business as usual if your company is sued!
Set up New Legal Entities
A business lawyer can help you set up the legal entity for your business. This includes filing the necessary paperwork with the state, drafting articles of incorporation or organization, and obtaining an Employer Identification Number from the IRS. They can also help you form other entities like limited liability companies (LLCs) and partnerships, create buy-sell agreements to cover contingencies such as death or disability, and draft agreements for joint ventures.
Draft Employment Contracts
A Fairfax business lawyer can help you by drafting contracts for your employees. This will help protect your business from any legal issues that may arise from misunderstandings or disputes between you and your employees. The lawyer can also help you negotiate terms with potential partners or vendors, and review any contracts that come your way. In addition, a business lawyer can advise you on the best way to structure your business to minimize your liability and protect your assets.
Draft Non-Disclosure Agreements
When you are sharing confidential information with another person or business, you want to make sure that this information is protected. A non-disclosure agreement (NDA) is a legally binding contract that establishes confidentiality between two parties. This agreement defines what information can and cannot be shared and sets consequences if the NDA is breached. NDAs are often used when businesses are considering working together or entering into negotiations. If you are located in Fairfax, VA and need help drafting an NDA, a business lawyer can assist you.
A business lawyer can help you protect your business’s trademarks. Trademarks are words, phrases, symbols, or designs that identify and distinguish your goods or services from those of other businesses. A trademark can be a brand name, logo, tagline, or even a scent. Your business lawyer can help you choose a strong trademark and clear it for use, file for federal registration of your mark, and police your mark to prevent others from using it without your permission.
Safeguard Your Company’s Name
You’ll want to be especially proactive when connecting with our Fairfax, VA business lawyer team about safeguarding your company’s name(s). Your company’s name is one of its most valuable intellectual property assets, as customers almost certainly identify your brand by your company’s name, first and foremost.
At Mahdavi, Bacon, Halfhill & Young, PLLC, we don’t want you to risk the integrity of your company’s legal name and/or trade name by leaving these assets unprotected. By conducting a thorough trademark search and registering these marks, we’ll help to ensure that you don’t infringe on the rights of others and can’t reasonably be accused of doing so.
Help to Set Business Goals
It isn’t always easy to know which business goals are attainable, which are smart moves, and which could potentially sink all that you’ve worked so hard to build. Thankfully, our legal team has helped to launch so many businesses successfully that we have a unique professional perspective when it comes to setting business goals. If your company is in need of some guidance – and of some assistance assessing the relative legal and financial risks of different options – we can help.
Minimize Tax Liability
One of the common myths that just never seems to leave the water supply is that only accountants are capable of crafting corporate tax strategies. In reality, skilled Fairfax business lawyers are often called upon to advise companies on how to minimize their tax liability and on how to respond to tax challenges that arise. There is an entire area of the U.S. Code governed by the rules of “tax law.” It shouldn’t surprise many people to learn that lawyers with extensive experience representing the interests of companies often advise in re: tax strategy but it often does!
Manage Real Estate Matters
Our legal team regularly handles legal matters concerning real estate on behalf of individuals and companies alike. Whether your new company is looking to develop commercial property, residential property, acquire mixed-use developments, or otherwise obtain premesis, we can help. From land use challenges to construction contracts, financing to zoning to indemnity, we can handle it all in ways that serve your company’s unique needs.
Advise in re: Financial Services
The knowledgeable legal team at Mahdavi, Bacon, Halfhill & Young, PLLC has extensive experience assisting businesses with successful management of their financial services and related resources. We do a great deal of work representing the interests of plaintiffs in litigation matters concerning misrepresentation and misconduct on the part of financial advisors, accountants, insurance agents, and other financial professionals. As a result, our Fairfax business lawyer team can both assist your company in the event that it has been taken advantage of and we can provide guidance as to how to avoid such challenges whenever possible.
If you are hoping to launch a new company or you need legal assistance to better protect the interests of a newly-formed enterprise, connect with a skilled Fairfax business lawyer at Mahdavi, Bacon, Halfhill & Young, PLLC today.
How Our Firm Can Help
A Fairfax business lawyer from Mahdavi, Bacon, Halfhill & Young, PLLC has a lot to offer. Our lawyers at our firm have years of experience in helping clients with their business needs. Whether it’s setting up a business, operating a business, or even ceasing operations at the business we have you covered for all of your legal business needs. Businesses can run into trouble when they are unaware of the local and federal laws that they need to follow. If a business is in violation of these laws then it may face fines or other penalties. This is why it’s important to have our firm assist when things get difficult with the process. We understand the different things that transpire with businesses and can offer our assistance to settle these difficulties. Contact us today for assistance with your business needs.
Support and Guidance when Things Get Tough
Having support and guidance from a Fairfax business lawyer can turn a difficult situation into a manageable one. Mahdavi, Bacon, Halfhill & Young, PLLC understand the different issues that can arise with the legal system that businesses need to adhere to. When documents are needed to be submitted and statutes of limitations are needed to be followed we can offer our experience with those items. If a battle in court ensues or negotiations with other businesses or legal teams are needed then we can help out with those things as well. Our experience has seen us help a variety of different businesses with their legal needs to help make sure that they are in compliance with the law or to help them if they get caught up with legal issues. Contact our firm today to get assistance with a business you are forming, operating, or have any other additional questions related to business.
Business Items to Consider
When someone is beginning a business it’s important to consider all of the different things needed to start and run that business. A Fairfax business lawyer from our firm will go over these things with you in person in even more detail. For starters though, it’s important to ensure that startup costs are considered and that loans are secured legally and in compliance with the law. If employees are needed to be hired then it’s important to consider the legality of that too and that people with the proper credentials or licenses are hired for the job. Employment issues are something that may arise too with hiring and having to let employees go and also establishing what wages will be and whether or not to give raises are also things to keep in mind. Operating costs are another major item to consider to ensure that the business can pay its employees and for supply chain items if and when needed. Getting behind in payments can hurt a business’s image and also get it into trouble if it’s unable to pay for wages and materials. If you are in need of assistance with legal items for a business then reach out to our firm today for help. We have years of experience in helping businesses get through a variety of different issues and believe that we are the right firm to help you too.
If you need help from a Fairfax business lawyer, contact Mahdavi, Bacon, Halfhill & Young, PLLC today!