In today's world, most start-ups have a lawyer on their side from the very beginning. They do this to help protect themselves from potential lawsuits and business disputes. However, not all start-ups are clear about the advantages of hiring a business attorney. Here are five ways a business attorney can benefit your start-up.

1. Legal Advice on Business Formation

A business attorney can help a new business owner select the right legal entity for their start-up. The attorney will guide entrepreneurs through the pros and cons of each option so they can choose which one is best suited to their needs. This will ensure that they stay within the bounds of the law and have a smooth transition from start-up to a fully functioning business.

2. Legal Expertise with Regulatory Requirements

A business attorney can also help entrepreneurs understand licensing and permit requirements for their state or municipality, as well as any special permits that may be needed for their industry. While these laws can seem overwhelming at first glance, a business lawyer is an expert in dealing with them. They can also advise the business owner on where to get started and show them what steps to take next.

3. Ensure Ownership of Intellectual Property

Protecting intellectual property is critical for any new business, especially if they are planning to sell products or services online or own their brand name. A business attorney will help protect their interests by ensuring that the business is the legal owner of any intellectual property used in their products and services.

4. Legal Assistance with Contracts

A business attorney can also help entrepreneurs draft and review all types of contracts, including vendor agreements, loans, and leases for equipment or real estate. They will explain each term in detail so that the new business owner knows what they are agreeing to and can make an informed decision. According to Rocket Lawyer, contract dispute cases make up roughly 60% of the roughly 20 million civil cases filed annually. Given that, businesses need to have a lawyer who can help them avoid lawsuits or resolve them once they are filed.

5. Legal Assistance Dealing with the IRS

A business attorney can also help a start-up navigate the complex laws surrounding taxes, including sales tax requirements for their state or municipality. They will be able to set up the business in a way that reduces tax liability when possible while keeping within the bounds of the law.

A business attorney not only provides legal guidance and expertise to any new business owner but can also help them navigate the often confusing world of regulations and taxes. They are an invaluable partner in helping start-ups through every stage along their way toward success.