Starting a new business is an exciting time, but it’s important to do things right from the beginning. A business lawyer in El Paso can make sure you jump through all the right legal hoops so your business can be a success and you don’t encounter any unexpected issues down the line.
Your Legal Structure
You can have a partnership, a sole proprietorship, a limited liability company, a limited liability partnership, or a corporation. There are advantages and disadvantages to all of these choices, of course. It will all depend on the precise nature of your business and how many people are involved, and a lawyer can tell you more.
Your Unique Name
In Texas, the law requires that your business name be easily distinguishable and not too close to the name of an existing business to be valid. Obviously, you want a name that resonates with you, that says something about what you’re doing, and that is memorable. But you’ll also need to make sure your business name isn’t already taken and that the name you want isn’t too close to someone else’s.
If you have an idea for a great name but aren’t quite ready to form your business, be sure to talk to your lawyer about filing to reserve your name. You can hold it for 120 days while you get ready to actually open the business. Don’t forget to check domain names for your website to make sure that something suitable is available. You’ll also want your lawyer to make sure that there are no issues with trademarks elsewhere.
Your Registration
Once you have established your business with all the right paperwork, you will need to register online with the Texas Secretary of State. The precise process for this will depend on the type of business structure you have, and your lawyer will make sure that your filing is done correctly from start to finish.
Your Permits and Licenses
It’s highly likely that your business is going to need some kind of permit or license to operate. For example, if you will sell anything, you have to have a sales tax permit. If you have any employees, you’ll need an employer identification number, or EIN. This is required by the IRS, and even if you don’t technically need one, it’s usually best to have one anyway because banks like to have an EIN from a business to open an account.
Then there may be regulatory permits or professional licenses that you’ll need to hold to be eligible to do the type of work you want to do. Again, your lawyer can help you make sure you get everything right.
Talk to a Business Lawyer in El Paso
There’s a lot that goes into forming a business, but a lawyer can help you get things done smoothly and quickly. Reach out to us at the Law Office of Albert Nabhan, PLLC in El Paso or Odessa, TX today.
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