5 Legal Questions To Ask When Setting Up Your Business

It’s no secret that Vancouver is home to one of North America’s busiest and most diverse entrepreneurial sector. With thousands of startups and enterprises launching each year, some of the greatest minds in today’s market call the West Coast home. At Paperclip Law, we’re proud to partner with corporate clients from all walks of life and backgrounds to help them create a business that’s protected and on the fast path to success. From the initial stages of incorporation to hiring a world-class team and expanding in the future, we’ve got your back!

If you’re planning on starting a business in 2020, below are five questions to ask your legal team in the early stages. Read on to learn more!

1. What Business Structure Suits My Needs?

No two companies are the same and the corporate world offers several options when it comes to making your brand official, each with their own pros and cons. From sole proprietorships to multi-level corporations, it’s important to know which options are best suited to your specific situation both today and down the road. Choosing the right path will help you drive forward successfully while also mitigating your liability and protecting you as you grow.

2. How Do I Protect My IP/Trademark/Etc?

Ideas move fast, and without the right protection in place, you might just find that yours ends up going to market with someone else’s name on it. One of the most vital aspects of setting up a business, especially one that deals with propriety ideas or products, is protecting your assets. Partnering with the right legal team will make it easy to get the ball rolling on several key applications include trademarks, patents, and all other associated documentation.

3. What Kind Of Contracts Do I Need?

Contracts are key in the day to day of business operations and can make or break you. Documents like non-competes and non-disclosures help to keep your inner workings private and away from prying eyes on the competitive market. Contrastingly, employment and contractor documents help ensure that everyone working for and with the company have a clear outlined set of expectations from both sides of the table. Knowing what you need and having assistance with implementation will give your team peace of mind and safeguard against any mishaps.

4. How Can I Minimize My Risks As An Employer?

Expanding your team is one of the most exciting parts of company growth as it is tied directly to your current and projected success. With that being said, adding new team members is also one of the trickiest aspects faced by any owner. Your legal team should be able to help guide you through the hiring process by drawing up clear employment contracts, advising on related legal matters, and helping you handle any necessary terminations with upstanding processes.

5. How Can You Help Me Grow In The Future

Finally, one of the most important questions to ask your current or prospective team is how they can help you grow in the long run. While many firms are prepared to assist piece by piece with your day to day, it takes a special kind of team to see the bigger picture and protect your vision today, tomorrow, and in the many years to come.

At Paperclip Law, we offer comprehensive corporate legal services that make it easy to grow with confidence and tackle the market like never before! Proudly serving Vancouver and Squamish BC, we’re here to make sure your company stands the test of time and is poised to enter the market in the best standing possible. Contact us today to learn more about getting started with Paperclip Law!