Starting a business is an exciting opportunity. Starting and growing your business also presents a wide range of legal challenges. Working with an experienced start-up attorney can help you form your business correctly, ensure compliance with all relevant state and federal laws, and protect your business from liability.
Discuss Your Business Start-Up With an Experienced NYC Attorney
At Woods Lonergan PLLC, our start-up attorneys have worked with many New York City entrepreneurs to start and grow successful business ventures. Our start-up clients value our attorneys’ attention to detail, diligence, and dedication to the success of their businesses. When you work with us, you can rest assured that we will help you get your start-up business off to an excellent start. Contact Woods Lonergan today to schedule your initial consultation and learn more about our start-up services.
Our Start-Up Services
Start-up owners have a lot to think about, from formation to obtaining angel adventure financing to intellectual property decisions. If you are a start-up owner, it’s important that you know that you aren’t alone. At Woods Lonergan, we are here to guide young companies through all business cycles. Our attorneys take the time to learn about your unique business, your industry, and all of your goals.
After learning about your business, we will work with you to develop a legal strategy tailored to your start-up. We understand that start-up companies do not have large budgets for legal services, which is why we provide cost-effective and business-minded legal counsel. Woods Lonergan has effectively assisted clients in all of the following start-up services:
- choose an appropriate business structure and entity
- file all of the necessary paperwork to create a business entity in New York
- establish an organizational and corporate system
- provide legal advice to the founders and memorialize their agreements to avoid disputes
- protect intellectual property rights by registering trademarks and copyrights
- draft confidentiality agreements to protect the start-up’s trade secrets
- draft employee contracts and develop an employment law compliance program
- help managers ensure that employees are incentivized to drive the start-up forward
- guide to start-up business through rounds of financing from angel to venture capital
- provide support for strategic deals, including mergers and acquisitions
Selecting a Business Entity for Your Start-Up
The first step in launching your start-up business is to choose a business entity. New York State recognizes several different types of business entities, including sole proprietorships, limited liability corporations (LLCs), partnerships, and corporations. The type of business entity you should choose depends on several factors, including the intended strategy of your new business, and whether you would like to take your business public. After learning more about your business’ needs and goals, we will advise you as to the benefits and negatives that come with different business entities.
For example, if you are a small business with no intention of becoming publicly traded, forming a limited liability company may be the best choice. You will receive legal protection without a significant paperwork and regulatory burden. On the other hand, you may need to form a corporation. There are three different types of corporations in New York: C-corps, S-corps, and B-corps.
S-corps and C-corps operate similarly, but S-corps elect to have their profits flow through the business directly to the shareholders. Earnings are only taxed when they reach the shareholders as profit. B-Corps serve a general public benefit that positively impacts society. Once you choose a legal structure, we can help you file all of the necessary paperwork and ensure your start-up complies with all state and federal regulations.
Every start-up company will eventually need to hire employees. Establishing best practices in the beginning of the start-up process helps ensure your compliance with employment law. New York City has some of the most stringent employment regulations. It’s difficult for busy start-up owners to stay on top of all of the employment law developments and ensure they are compliant. Failure to comply with employment regulations can cause serious problems for your business and put you at risk of a lawsuit.
Our attorneys can help you draft employment agreements that detail each employee’s job title, description, and expected compensation. It’s important to put a “work for hire” provision in the employment agreement. These provisions ensure that the company will maintain the right to any intellectual property developed by the employee during the scope of their employment. Down the road, you may choose to hire an employee and agree that you will only terminate employment for a specific cause. Documenting these types of stipulations in an employment contract can help you avoid litigation down the road.
Intellectual Property Protection
Another important aspect of launching a start-up involves intellectual property. Whatever industry you are in, you will need a logo and certain branding items. You may need additional property to be trademarked, patented, or copyrighted. One of our attorneys can sit down and go over all of your intellectual property needs. We will help you apply for protection for your intellectual property. Should any other person or business attempt to infringe upon your intellectual property, we can help you defend your rights.
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Contact a New York City Start-Up Business Attorney
At Woods Lonergan, we provide valuable and cost-effective solutions for our clients through all phases of their business, beginning with business formation. Our attorneys handle a full range of services for business formation clients. We take the time needed to understand each client’s industry, objectives, long-term goals, and any issues they are experiencing as they form their start-up. If you consider starting a business in New York, contact Woods Lonergan today to schedule your initial consultation.
Woods Lonergan PLLC helps clients with business and corporate law throughout NYC including the boroughs of Manhattan and Brooklyn.