In the life of any business, as a company attorney can attest, there are a few major milestones that represent a huge step up in recognition and achievement. These thresholds often come from actions that can only be taken through legal channels, such as incorporation, issuing stock, hiring employees, and more. If you’re ready to see your business through a major positive change, here are a few ways you can take your company to the next level.
Seek a Business Attorney for Incorporation
Many businesses start out as an LLC or sole proprietorship, but when you proceed to a C Corporation structure, you are creating a distinct legal entity unlike other business structures. A business attorney can give you key advice on the upsides and downsides of incorporating in a particular state and industry. Business lawyers can also help guide you through the challenging process of transitioning your business into a corporation, and most importantly, you can ensure that the results of the incorporation will meet your unique needs. Going with an attorney will streamline the process and avoid any snags.
Consult a Corporate Lawyer for Company Stock
Another reason to consult with a company attorney is for discussing company stock. The purpose of issuing stock, either private or public, is to raise money for expansion and growth. Only a tiny fraction of businesses will ever have an initial public offering (IPO), but if you have a legitimate business with assets and revenues, you can issue private ownership in your company to accredited investors in exchange for financial capital. It’s crucial that you get help from a qualified business attorney when you’re thinking about raising money through company stock, particularly to avoid consequences like losing control of your company or getting cheated out of the value of your company’s shares.
Hiring Employees with the Help of a Business Attorney
By the time your company is ready to start hiring employees, especially full-time employees, you’ll want to have a lot of information about what to expect. The best way to do this is under the guidance of an experienced company lawyer who specializes in hiring law. There are plenty of pitfalls to be aware of when you begin to look for employees to help expand your business, including provisions under Title VII of the Civil Rights Act and the Equal Employment Act. You also need to be aware of which questions are permitted in job interviews. In general, a business lawyer will help you understand a number of things you need to know as you get ready to hire new employees.