Starting a business is an exciting opportunity, but it is also a complex undertaking. Handling it entirely on your own may be possible. Yet, it also creates possibilities of missing important steps or for essential efforts to fall through the cracks. Business lawyers in Edmonton can aid you in ensuring that you tick every box as you work to set up your new company for success now and in the future.

How can a corporate lawyer assist you through the beginning and growth stages of your business?

Getting Your Business Started

Seeking experienced advice during the start-up phase is when you can access some of the most vital support from a lawyer. There are many ways a legal professional smooths the way forward at this stage. These efforts include:

• Helping you determine the proper structure for your business based on the number of partners, the type of business, financial and tax considerations, and more. Ensure your structure reflects the framework the business needs to thrive.
• Navigating the process of incorporating your business, obtaining licenses, and preparing to do business. With many steps and forms to manage, legal support can take the pressure off while you work on other aspects.
• Creating shareholder agreements that are fair, equitable, and cover the most important facts to ensure investors have clear expectations and so that all parties understand what they’re signing.
• Preparing employment contracts for your employees that are fair to individuals and protective of your business while remaining aligned with the law.
• Negotiating and securing commercial leases on the real estate your business may need.

With an experienced lawyer on your side, you can save time and money while avoiding headaches and mistakes that can hamper the launch of your business.

Finding Support During the Growth Phase

As your business grows, there may come a time when a lawyer can provide additional support as you explore expansion. For example, you may need to raise capital to expand the business, and a lawyer can assist you with negotiations and reviewing proposed offers. If you intend to expand to additional sites or locations, a lawyer can again assist you with contract reviews and closing. Likewise, as shareholders join or leave the business, revisiting shareholder agreements may be necessary.

At times, you may decide that a business reorganization is the best choice to support the growing company. With legal support, you can follow the proper process and move forward with confidence that the resulting reorganization will leave the business in a stronger, more strategic position for continued growth.

Planning for the Future of Your Business

What will be the ultimate fate of your business in the future? There may come a time when you are ready to exit the business, or you wish to hand it off to a successor. Making a succession plan early on is key to having a framework for a smooth transfer in the future. The same is true if you intend to acquire another business or sell the business to a buyer. These hand-offs are a complex process, and a lawyer’s knowledge of business law is an invaluable resource to protect your hard work and ensure you can satisfy your wishes with succession or a business sale.

Learn More from Business Lawyers in Edmonton

At Lypkie Henderson, our experience in business law, business structure, and sales all position us well to assist individuals like you in managing a company’s start-up, growth, and succession. With support available from a corporate lawyer in Edmonton through the life cycle of a business, you can enjoy greater confidence in your decisions and more peace of mind regarding structures, agreements, and more. Connect with our team today to find out more about how we can help you get set up for success, no matter which stage of life your business occupies.