Starting a business is an exciting time. It’s a chance to pursue a vision or chase a dream while providing opportunities for others along the way. However, there is much more to consider than how to achieve your goals. You’ll also need to take care of the legal aspects. A small business lawyer in Edmonton can help.

Taking the appropriate steps sets your business up to operate legally. At Lypkie Henderson, our business lawyers in Edmonton can help you navigate these concerns. Here are a few of the most important things new small businesses must consider.

Organizational Structure

Do you have business partners, or will you operate alone? Is a sole proprietorship right for you, or should you incorporate? Answering such questions about business structure is key to your future. The proper structure simplifies decision-making, makes responsibilities clear, and could help shield personal assets from business failures. Creating a business agreement that’s fair and equitable isn’t something you should leave in less-experienced hands. Business lawyers can help you evaluate each option and choose the structure best for your needs.

Name and Register Your Business

Deciding on the name of your business is an integral part of starting a company. Not only does this identify you to the public, but it is also a requirement for registering a business in Alberta. It is essential to choose an identifiable name while avoiding trademark or duplication issues. You must also go through a formal registration process for your business.

Understand Your Obligations in Employment Law

You should have an appropriate structure if you intend to employ other people in your business. However, you must also understand your obligations under employment law. Knowing the difference between employees and contractors—and which you will use—is also necessary. Likewise, you must consider your responsibilities for providing notice and severance packages. Running afoul of the law in this area can create significant problems for your company.

Find Friendly, Competent Help from Business Lawyers in Edmonton Today

Building a solid foundation for your business gives it a better chance for success. Speaking with a small business lawyer in Edmonton from Lypkie Henderson can help you tick all the essential legal boxes. After that, you can focus on the vital work of running the company. Let’s start your business off on the right note.