Even the most educated entrepreneurs may make some unintentional mistakes as they take the first steps to start their business. While some of these errors may be easily remedied, others have more serious legal ramifications. With guidance from a corporate attorney, business owners can protect themselves from potentially damaging litigation. Read below to learn about some of the most common legal issues that small businesses face and how the Dallas law firm of Ritter Spencer PLLC can help.
Incorrect Business Structure
Selecting the correct entity for your business is essential and affects everything from daily internal operations to tax filings. From sole proprietorships and general partnerships to corporations and limited liability companies, it can be challenging to know which business entity is right for your company. If you are unsure how to structure your business, work with a corporate attorney who can recommend the optimal entity for your company.
From the name of the company to a slogan or branding concept, it can be easy to unintentionally build off of someone else’s trademarked property. Business owners must prioritize research as they make these crucial creative decisions to ensure they do not leave themselves liable to potential trademark infringement lawsuits in the future. A cease and desist letter in the early days of a new venture can limit the company’s ability to grow in the future, but this can be avoided or mitigated by working with an experienced trademark attorney.
Vague or Ambiguous Contracts
Businesses of any size face serious legal ramifications if they rely on vague or ambiguous contracts. The consequences of these unclear documents are especially damaging for a small business or start-up. Standard internet contracts may save businesses money in the short-term, but these pre-written agreements can leave businesses vulnerable to costly lawsuits in the future. Every document, from employment contracts to real estate agreements, should be tailored to the unique conditions and requirements of the parties involved. Work with a contract attorney to review your existing contracts, draft original documents, or address any contract disagreements that may come up for your company.
Part of owning and running a successful business is making choices that can limit risks while also dealing with legal challenges as they arise. The Dallas law firm of Ritter Spencer PLLC can work with businesses of any size to reduce the risk of future litigation and also strategize with companies to address any current legal challenges. Our team is experienced in a variety of practice areas, including business and corporate law, trademark law, commercial litigation, and more. Contact us today to see how we can work together.