Business start-up lawyers are professionals who provide general or specialized legal services to a new business. However, there is a wide range of practice areas related that can be managed by more than one counsel or one attorney that can handle a variety of those practice areas generally. If you are part of a Start-up or are planning to create one, you should be aware of the legal options available in your sector that are still affordable and flexible enough to keep your growth. If you wish to know more about our legal services for business at Gallenberg PC do not hesitate to contact us at (818) 237-5267 (Burbank), (213) 986-8432 (Los Angeles) or (310) 295-1654 (Beverly Hills) or by filling out a quick and easy free online Case Evaluation Form.
Why Do you Need A Start-Up Lawyer?Start-ups are known to be emerging businesses and as a result it is important to consult with a lawyer that is up to speed with the laws affecting those emerging businesses. Particularly important is to obtain start-up counsel in the local area where the emergent business is to be formed or operate or conduct business. Even before beginning the start-up creation, it would be useful to obtain a consultation with a lawyer about the type of legal entity that should be formed, how it should be formed, how to hire staff, and where the business should be legally formed.
Because of the importance of the legal structure of a startup a startup lawyer is a strategic partner you can count on in the early formation of your business. The earlier you can secure proper legal counseling, the more likely it will be to avoid the pitfalls of making costly errors leading to liability or lawsuits.
Why is California Chosen By Many Startups?Some of the top reasons why startups have decided to establish in California is because of the large market it represents. California is at the top in terms of GDP in comparison with all the other States in the US, notably the sectors that contribute the most to the GDP are highly innovative service industries such as the ones from technology and information. Many startups thrive because of the opportunities they can find when looking to further their business with the necessary investment, and California offers an exceptional financial environment that startups are able to use when the demand for more capital increases.
Part of the benefits when starting a business in California is the cultural strength and diversity that adds up to the dynamic of entrepreneurship, given that some studies have demonstrated that immigrants are more likely to pursue that path. Especially important to mention the Hispanic population that represents approximately 40% of the total population and keeps rising. There are opportunities for business in California that want to accomplish partnerships beyond the anglosphere, meaning a larger market and workforce that can sustain their growth over time.
What is The Lifecycle of Startups?Businesses always start with an initial conception or idea that will become the center of all its subsequent activities. After an idea is generated, it needs to be proved, validated or accepted in the market. There are several kinds of strategies that entrepreneurs can pursue to better test the viability of their ideas, they may contrast it with other options and conform teams to brainstorm alternatives and suggestions.
Depending on their ability, the entrepreneurs can also do some previous market research to assess the problems, needs, already existent products and competitors. They can use surveys to build a potential client base and obtain more information. Most startups are known to belong to technological fields, and they may need to do extra steps evaluating the operational and technical feasibility of their product idea.
After defining a final product idea, startups need to begin the production phase, not before some calculations of the basic costs and expected revenue among other important numbers that can be obtained with proper financial advice. Financial planning is key for the success of the business so entrepreneurs can set limits on the capital they are willing to risk, that they also need, when they can expect returns from the investment, if they need to implement more steps to attract more investors and enlarge the team or use fundraising strategies.
Another challenge arises when looking for investment funding, which is when investors will look at the legal formation of the start-up to determine their interest stakes. A start-up lawyer can assist in reviewing the documentation provided to potential investors, draft the investment contracts as well as structure the deal.
After the legal formation of the startup, now the startups are ready to slowly bring the idea into reality. First, it will be important to build a team of people who will help in creating the product/service. A startup lawyer can assist in drafting onboarding documents, structuring compensation plans, among other human resource functions to bring onboard a strong workforce.
Once your product has been accepted into the market and have acquired a more reliable customer base, you need to look for ways to retain and expand such a base. The bigger the demand becomes, the more your startup will be able to expand and grow. Until you decide when to reap the profits and start your next project, that is because your business is now mature enough and well established, but no longer a startup.
When Should I Hire a Startup lawyer?A startup lawyer should be hired even before deciding on the name of the business. During the startup process legal support is not only useful in the formation of your business, but also the most important element in assembling a good team. A start up lawyer can assist with the formation of the startup but also in making the proper and legally compliant hiring decisions. At Gallenberg PC, we have strong and reputable legal team that can help you through all the stages of the startup. Our startup legal team is prepared to handle the legal risks and complexities particular to your business needs from the beginning. We encourage you to contact a startup lawyer at our law office as soon as possible.
What are the Benefits of Hiring a Startup lawyer?Hiring a startup lawyer at Gallenberg PC can provide several key benefits, including:
Having a startup lawyer from the start can save you money and stress in the long run by preventing costly legal mistakes.
Contact a Los Angeles Startup Lawyer at Gallenberg PC TodayIf you need a Start-up lawyer in California, contact our Los Angeles Startup Attorney to learn more (213) 986-8432. For Beverly Hills, please call (310) 295-1654. If you need a start-up lawyer in Burbank and surrounding San Fernando Valley, please call (818) 237-5267.