Business Law FAQ
Q: I’m starting a new business. Should I talk to a lawyer?
A: Yes. Business law is often complex and missteps at any point, whether at formation or later on, can mire a business in serious and costly problems. It is extremely important that business owners consult with an attorney as soon as possible to ensure that their business and personal interests are protected. By speaking to an attorney as soon as possible, one can prevent possible headache and minimize or eliminate costs down the road. Call or email today for a free consultation and protect you and your business.
Q: What is the best type of business structure for my company?
A: The type of structure you choose will affect everything from retirement plans to taxes. At Dexter & Dexter, our attorneys take the time to learn about your business and determine the best corporate structure for your company.
Q: Do I need to incorporate?
A: Yes. Incorporation protects the business owner from personal liability for the debts of the business. Incorporating a business also helps protect from tort and contract liability. The most common forms of business organization used in Utah are limited partnerships, corporations, and limited liability companies (LLC’s).
Q: How much will it cost?
A: Fees and retainers are discussed with the client during the initial, free consultation and will be tailored to meet the individual needs of the client and the anticipated scope of representation.
Q: Do I need separate tax advice?
A: Dexter & Dexter always recommends that a client obtain competent tax advice before making significant financial decisions. Our firm works closely with our clients’ tax consultants to ensure that the legal advice our firm provides harmonizes with the tax advice received from our clients’ tax specialists.
Q: How long does it take?
A: Once the client has engaged the firm, our goal is to provide the client with written confirmation of the incorporation and the initial corporate documents (usually within five business days). The time involved with other types of transaction work or litigation will depend upon the complexity of the issues involved, although the firm works aggressively to minimize any potential delays.