When you first meet with a business attorney to set up your business, it is best to come prepared. Below is a list of information I ask my clients to think about before coming in to see me for the first time:

  1. Determine who is going to own the business.  If you are unsure if you are going to own the business by yourself or with others, bring this up at your meeting as your business attorney can let you know some things to think about.  Partnerships do work, but they take a lot of work.
  2. Think about some names for the business.  It is best to have 2-3 names ready when you come see your business lawyer.  In many cases, the first name will work, especially if it is unique, but if there is someone already using the name for their business having more than one name ready ensures that you can get the ball rolling.
  3. Note any expenses already incurred in setting up the business.  Your small business attorney will need to know what type of expenses you have had and what type of expenses you foresee.  Your small business attorney and your small business accountant will probably work together to determine what expenses are deductible and if one tax entity would make sense over another based on the expenses you have had and you foresee.
  4. If you are interviewing business attorneys, have questions ready to ask about their experiences.  For instance, I usually like to tell potential clients about other types of businesses I have set up, accountants that I have worked with, and information about my background if asked.
  5. Have a list of your advisors on hand.  If you have advisors, you should bring it with you.  Even if you don’t have all the advisors you need, bring the ones that you have so that your business lawyer can help you fill in the gaps.