Answers To Common Questions From Entrepreneurs
If you think no legal office will understand your startup questions, you may want to speak with our team at The Law Offices of Howard J. Finkelstein, PLLC. We know the law and are tech savvy enough to understand the legal challenges that emerging technologies can bring to the table.
Below we share some of the questions we have addressed from past clients. We hope they can serve as a good starting point for you.
Is it ever too early to find a lawyer?
No. As a business owner who plans on growing your business, the sooner you engage an attorney, the easier it will be to avoid stumbling blocks and potential obstacles. We live in this “space,” we know what the markets demand and how to navigate to a safe and fiscal landing.
How do I set up my business?
First, you will need an overarching business plan. Even if just notes or a sketch on a cocktail napkin, you will need to decide what it is, who it serves, who will be involved and how you plan to fund your startup. Second, you will need to decide what kind of organization is best suited to your business plan. Different business organizations have different risk levels. Is the market saturated? Will your business be a corporation or limited liability company? Where will your business be incorporated? That’s why it is never too early to find a lawyer. We can help you.
What docs do I need?
Generally, at minimum, you will need business contracts for vendors, leases, investments, financing, purchases and sales, and employees, if you intend to hire workers. You will need to file for a business license with the state where you intend to headquarter your business. In the likely situation that your business will have trade secrets, you will need nondisclosure statements. Depending on the nature of your enterprise, you will need other docs. Our attorneys can help you tailor the docs you need.
How do I bring on other people?
Your business plan will include the different types of people necessary for the type of business you intend to startup. If you are creating a corporation, you will need to list officers and a board of directors. Each role has different responsibilities. This is where your lawyer can help you understand the nuances of different types of organizations and the benefits or drawbacks of each.
How do I start raising funds?
It all comes back to your business plan. Are you building a rocket ship or an NFT platform? How much control of your enterprise are you willing to share? Strategic partners can be your parents, a rich aunt or other private equity groups. You will need to be organized and know what you are seeking funding for before sourcing crowdfunding, government grants, accelerators, incubators, hedge funds and other venture capital supplies of funds.
We Know You Have More Questions
Contact our office today to make an appointment with our attorneys. Call 347-428-8845 or send us an email. We love helping startup owners across the U.S. and worldwide pursue their ambitions and make them a reality.