When you’re starting a new company, the number of decisions you have to make can seem overwhelming. Not only must you raise capital, make a viable plan, hire employees, and so on, you have to think about whether or not you need a business attorney. In many cases, the answer is no. With some qualified help, you can do a lot of things on your own. However, there are times when a lawyer is absolutely essential. And then there are other times when it’s better to have one that not.
There are a number of decisions you’ll have to make or processes you may have to go through that will require the help of a good business attorney. For instance, many small company owners like to get together with their partners are create what’s called a special allocations fund. This fund can be put right into your agreement or the LLC statement. If you’re going to do something like this, you’ll want to get a good lawyer on board and have him take care of the more complicated legal areas.