The new year is a great time to launch that new business endeavor you’ve been dreaming of. While starting a small business is an exciting opportunity, it’s natural to feel overwhelmed and intimidated by the number of decisions facing you. As you search for the ideal storefront location, choose a name for your business, and think about your long-term vision for your business, it’s important to take every opportunity to install legal protections and give your business the solid foundation it needs in order to thrive. Although new business owners are not required to enlist the help of an attorney to launch a company, doing so has numerous advantages—the most significant of which is the ability to feel confident in every decision you make. When you work with a dedicated and experienced business attorney, you can trust that you are investing in the viability and future success of your business. If your new Colorado business plans to hire employees, you will need to establish effective employment policies that minimize legal risk and cultivate trust between the business owner and their employees. Let’s take a look at how working with a skilled business attorney can help your new business implement employment policies that work for everyone and keep your business running as smoothly as possible.
Contract Drafting and Review
Any business that has employees relies on contracts and agreements that define the obligations, rights, and responsibilities of the involved parties. Although there are several cheap (or even free) templates available online for business owners to use for such purposes, using these generic contracts can put your business at risk for legal issues or even litigation later on. Unfortunately, many of these templates contain vague language and fail to protect the interests of you and your business sufficiently. Should an employee contest the terms of their employee agreement down the road, a flimsy contract will not do much in the way of shielding you from liability. However, when you invest a bit more time (and money) into working with a knowledgeable and experienced business attorney, you can feel secure in the quality of the employee contracts and business agreements they draft, review, and put in place. Your attorney will work with you to understand your unique goals and challenges, using this information to customize the contracts to address the specific needs of your business. In short, investing more of your resources into contract drafting and review at the start of your business venture can save you considerable time, money, and stress in the future.
Remaining in Compliance
There are so many things to think about when starting and supporting your new small business. Most of your time and attention will center on serving your customers, providing your services, and growing your business in a sustainable manner. With so much of your focus devoted to these pursuits, it’s understandable to pay less attention to shifts in employment law and state compliance obligations. Unfortunately, falling out of compliance—even if you were unaware of doing so—can put you and your company at risk of penalties, fines, and other negative consequences. Why not let your business law attorney step in to review your compliance obligations to ensure that you are not violating any local, state, or federal rules or regulations? Many business owners feel much more confident and reassured when they know they have a dedicated legal professional looking out for their best interests.
Navigating Employee Classifications
Small business owners may decide to launch their companies on their own as sole proprietors. Should there come a point where hiring an employee or two would best support the business, it’s critical that the owner understands the nuances of the hiring and employment classification processes. For example, classifying a worker as an employee carries different consequences and considerations than classifying the worker as an independent contractor. You can discuss your specific needs with your business attorney to determine which classification would best suit your goals. Taking this step can shield your business from potential misclassification fees in the future and give you greater confidence in understanding how your company operates.
Handling Employee Hiring and Firing Procedures
Businesses that involve employees must establish clear and effective hiring and firing procedures. Many small business owners worry about potential lawsuits from disgruntled employees, especially if the former employee alleges that they suffered acts of discrimination on the job or that the grounds for their termination were against the law. Due to the sensitive nature of these issues, it’s best to establish a solid relationship with a dedicated business law attorney long before any disputes arise. Your attorney can work with you to create clear employee agreements that specify the details of all hiring and firing processes. Should the time come to fire an employee, having a comprehensive and legally sound contract in place will minimize the risk of litigation and maximize the chances of resolving the matter as smoothly and peacefully as possible.
Building a Long-Term Business Relationship
Launching a new business is just the beginning of a meaningful relationship with your business law attorney. It’s essential to recognize that this legal professional is always available to provide ongoing support and encouragement, no matter what the future of your business may hold. As compliance regulations change or employment laws shift, you can trust that your attorney will be there to help you understand the implications and make any necessary changes to your contracts, agreements, or operations. Moreover, should a legal dispute arise that requires arbitration, mediation, or litigation, your attorney will be able to defend your best interests and help you obtain a fair outcome. As the new year arrives, consider making your business dreams come true by reaching out to a caring and friendly Colorado business attorney.
If you’re ready to start a new business in Colorado, reach out to Judex Law, LLC, today at (303) 523-4022 to discuss your goals with a dedicated and friendly business law attorney.
