One thing I have learned throughout the process of starting up our business is that if you want to follow the proper procedures, legal fees can be a pretty substantial part of your start-up costs. You may be asking yourself, why is she writing about legal fees over a year and a half into running the business?
The thing is, legal costs will continue to exist as long as you have a business. At the beginning, we had start up legal fees, such as the cost of filing the organizational documents required to officially form our business as a LLC (Limited Liability Company).
Other business-related legal fees that may be required later down the line include filing for trademarks, in order to protect and have exclusive use of names for new products. From my perspective, one thing is for sure- I think you can emphasize too much, the importance of researching the proper legal procedures required for your specific business. Certain legal procedures may be necessary for some businesses and not for others, depending on the nature of your work. It's true that there will be larger upfront costs associated with doing this, but taking these steps and following the proper legal precautions may help save you a large amount of trouble (or in some cases, even a law suit) in the future.
Here are some online legal resources I find helpful when it comes to business-related issues:
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