The idea is there. The need is there. The building space you’ve been dreaming of is available. You’ve come up with nearly everything to begin the process of starting your own business. Before you get too far into the details of your new business, consider and address some of these legal issues to ensure that both you and your business are protected.
Are you in this business with another person? If you are, starting a business partnership may be the best for the future of the business. If you think a business partnership is the way to go, here are some things to think about to ensure you protect yourself and your business in the long run.
Some of the legal factors associated with business partnerships involve agreements, liability, and tax issues. It’s important to address these legal factors, along with others which may accompany business partnerships, to ensure both you and your business are in good standing during the partnership and also in the event of the termination of the partnership.
One legal aspect many entrepreneurs believe can be overlooked is trademarks. If not researched properly, infringing on trademarks can cause major consequences, both legally and financially, that could cause serious impacts on your business.
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To ensure you and your new business are making wise legal decisions, you can save yourself a lot of trouble by having a discussion with Steve Welle, an experienced business attorney. Contact O’Keeffe O’Brien Lyson Foss in Fargo, North Dakota or call 701-235-8000 or 877-235-8002 for help establishing your LLC.