Business Lawyer Alexandria, VA
If you are looking to establish a new business, you should talk to a business lawyer in Alexandria, VA residents trust to obtain reliable legal services. Setting up a new business can be exciting, but going through the legal processes to launch your business can be difficult to do on your own. It is recommended that you hire a lawyer not just to ensure that you meet the legal requirements, but to set up the barriers to protect your business from litigation. To learn how you can receive legal help regarding your business needs, contact a top lawyer like one from Mughal Law Firm PLLC.
Business Lawyer in Alexandria, VA
A business lawyer like one from Mughal Law Firm can assist you with all of your needs related to running your business. We care about each of our clients and want to see them succeed. The legal team at the firm can help you review your paperwork, find a business type, help you obtain your business license, defend you against litigation, and many more. Many business owners don’t seek legal help until there is a problem, but it is better to be prepared well before a problem arises. Lawyers can help guide you in the right direction so your business can grow and thrive.
Legal Assistance For All of Your Business Requirements
Before you can begin running your business, you first have to make sure you meet all the requirements and obtain the necessary legal documents. If you don’t meet all of the legal requirements, you won’t be able to open your business. A business lawyer like one from Mughal Law Firm, PLLC can give you essential legal advice and guidance so you have everything that you need.
Understanding the complex state and federal business laws can be difficult. You need to have a strong basic understanding of these laws so your business can operate legally and you can file your taxes correctly. Some of the tasks that a lawyer can help you with include:
- Review information in documents
- Obtain a business license
- Help you decide on a business structure
- Create a partnership agreement
- Register a trademark
- Protect you against litigation
What’s the Process for Registering a Business
There are a few different ways to register a business and your lawyer will be able to help you choose the best/correct method for your business. As a whole, registering a business name offers you a few benefits including:
- Allows you better comply with state and federal laws.
- Protects your business against another company/organization trying to do business under your name.
- Registering a business name is a requirement if you want to open a business account.
- Offers a greater degree of professionalism and ensures your customers and clients that you have a legitimate business.
- Registering a business also offers you tax benefits and owners of corporations are only taxed on their salary and bonuses.
- You can gain stock incentives that can offer great benefits for you and your company in the future. You can also more easily transfer the business to another owner by selling stock.
With these benefits in mind, there are three main ways to register a business.
Registering as a DBA (Doing Business As)
DBA is also known as a Fictitious business name is the name of your business. In this scenario, you will act as a sole properitier and you’ll be able to do business under your Fictitious name. One potential downside is that you’ll lack limited liability protection.
Registering as a DBA prior to forming a LLC, Corporation, or any other legal entity will result in your state recognizing your business as a sole proprietorship.
Creating a Business Structure
Creating a business structure when registering your business name is the path that a lot of people undertake. This path is also recommended if you have or will have multiple employees/partners that will be handling different departments/operations of the business. When forming a business structure, whether it is a sole proprietorship, an LLC, or Corporation, your business name will be registered along with it.
The Top Six Most Popular Business Structures
There are four main business structures you may be familiar with that were just mentioned: sole proprietorship, LLC, Corporation, and a partnership. However, there are many more business structures which we have yet to mention such as non-profits. You should review each type carefully before deciding which best suits your situation, but no matter which structure works best for you, a business lawyer in Alexandria, VA can help you establish your company.
#1 Sole Proprietorship
This is where a single person owns a business. Many small businesses are sole proprietorships. Specifically, this is where a business owner and the business itself has no legal distinction. As aforementioned, as a sole proprietor you will want a DBA set up — Doing Business As.
#2 Partnership
Business ownership is split equally between multiple people. There are two subtypes of partnerships: general and limited. General is for those that are involved in the day-to-day running of the business while limited partners are normally just more investors in a company.
#3 Corporation
This is for companies that are more established with shareholders and employees. The owner of a corporation is treated independently of the company legally speaking. Corporations require more exact record keeping for tax purposes. Corporations can either be a C-Corp or an S-Corp. C-Corp company owners pay taxes on the company’s income, and then they pay taxes on what they pay themselves too. S-Corp owners report the company’s income as their own for taxes.
#4 LLC
A limited liability corporation or LLC, is a blend of the first three business types mentioned above. For tax purposes, income is treated at the personal income level while keeping your personal debts completely separate from the company itself, which also protects you from your company’s debts.
#5 Non-Profit
This is a common structure you are most likely very familiar with. These companies are usually tax exempt and the company’s earnings pay for its own expenses. Non-profit organizations can also be subdivided into four categories: an unincorporated association, a trust, a corporation, or limited liability company. These can be difficult to understand, which is why a business lawyer in Alexandria, Virginia is a good option to help you set up your company’s legal framework.
#6 Co-Op
A Co-Op, or cooperative business, is a company owned and operated by those that use the business for its services. There are actually five different types of co-ops: consumer, worker, producer, purchasing/shared services, and multi-stakeholder. Co-Ops have no stakeholders.
When starting a business of any size or industry type, it’s important to take the time to choose the right structure for your business. Each business structure comes with its own set of pros and cons, so picking the right one can make a significant difference when you start to grow. For example, if you plan on bringing investors into your company at some point, then having a C-corporation will allow them to claim profits from your company’s earnings. But that same structure could be problematic if you plan on selling shares of your company at some point because there are strict rules about transferring ownership of stock.
Don’t let these different types of business structures intimidate or worry you. As long as you have a business idea, the business lawyers in Alexandria, VA at Mughal Law are ready to help. Reach out today for more information.
Registering as a Trademark
Registering as a trademark ensures that your business receives the most optimized protection. Especially when you register with the federal government you’ll have a lot of protection against infringers or people attempting to use your business name as you’ll have legal protection in every state.
What’s the Process in Obtaining a Business License?
After choosing the name of your business and the type of business you’re registering for, there are a few additional steps in obtaining a business license.
- The next step is to complete and submit a zoning review form. This process may not be necessary, of course, if your business doesn’t have physical property.
- Determine which business category your business falls under. This can range from retail to foodservice, contractor, and business or personal or real estate services, etc.
- You’ll need to provide estimated gross receipts that can vary on the business category and fixed fees.
- You’ll next need to complete and submit the application form which is usually found in your specific counties in either an online or printable form.
- Lastly, you’ll just need to pay for your business license which can usually be done either in person or online or by mailing a check.
5 Reasons You Need a Business Lawyer to Get a Business License
Opening your own business can be exhilarating, but it also comes with its own challenges and concerns. One of the first things you will likely want to do as an entrepreneur is apply for your business license. While this process typically doesn’t require any legal assistance, it’s still important to understand how your local government will judge you, and to make sure that you meet their criteria. Read on to learn five reasons why you need a business lawyer to get a business license.
1) Saves Time
If you’re thinking about starting a business, you may be wondering if you need a business lawyer. The answer is, it depends. If you’re starting a simple business with no employees and minimal risk, you may not need one. But if you’re starting a more complex business, or if your business will have employees or customers, it’s a good idea to consult with a business lawyer. Working with a lawyer now at the start of your business can save you time later if you realize you didn’t do the paperwork correctly or if an issue arises.
2) Avoid Future Issues
No one likes getting into trouble with the law. But when you’re starting a business, it’s important to make sure you’re doing everything by the book. A business lawyer can help you avoid future issues by making sure you have all the proper licenses and permits in place.
3) Set Up Your Corporation Properly
You do not want to be successfully operating your business only to discover that your corporation was not set up properly in the beginning! Instead, you want to start out with everything good to go so that you do not have to worry about any issues coming up with your business license. A business lawyer can ensure that your paperwork is filled out properly so that your corporation is set up correctly, allowing you to focus on running your business!
4) Help Avoid Common Mistakes
Starting a business is exciting, but it can also be overwhelming. There are so many things to think about and do, and it’s easy to make mistakes. That’s where a business lawyer comes in. A business lawyer can help you avoid common mistakes, such as forgetting about required permits or licenses. They can guide you through the process of choosing the right business structure for your company, including sole proprietorship, partnership, LLC or corporation. They’ll also draft legal agreements for partners and employees. You’ll want an attorney on your side if you need to buy equipment or lease property too! Business lawyers are like safety nets for small businesses. Not only will they keep you from making some costly mistakes; they’ll give you peace of mind throughout the process!
5) Provides Support
A business lawyer will be there to support you before, during, and after the business license application process. They will be able to guide you as to how to set up your business, how to best apply for a business license to ensure you receive it, and how to run your business according to the license you have received.
If you are starting a business, contact a business lawyer today to apply for your business license.
Why You Should Hire a Lawyer
Building the foundation of your business is essential if you want to set up your business for success. Knowing where to begin with your business development plan can be difficult, but with a lawyer’s guidance, the process will be much easier to complete. Hiring an Alexandria, VA-based business lawyer from the start ensures that you can complete the legal requirements and prevent any issues from occurring. If you have questions about any part of the process, they can give you answers. Business lawyers are highly experienced in a variety of matters, so they can help you with any of your needs.
Obtain Quality Legal Services
We are capable of handling even the most complex business matters. Allow us to help you develop your business and position it for success. Contact Mughal Law Firm today and request a case evaluation with a qualified and highly skilled business lawyer in Alexandria, VA to receive urgent legal support.
