Small Business Law: A Practical Guide for Entrepreneurs

Starting and running a small business is both exciting and challenging. Mark can help you learn to recognize the crucial legal considerations that entrepreneurs face, from structure decisions to contract management. Here's a guide to key areas that every small business owner should know.

Choosing the Right Business Structure

Your business structure affects liability, taxation, and control. Options include sole proprietorships, partnerships, LLCs, and corporations. Mark and his staff assist with:

• Forming LLCs or corporations with proper state filings.
• Understanding liability protection and tax implications.
• Setting up governance to avoid future conflicts.

A poor structure choice can leave you exposed to debts or increase your tax burden.

Contracts and Agreements

Solid contracts protect your business, clarify expectations, and reduce disputes. Essential tasks include:

• Having contracts reviewed or drafted by a lawyer.
• Including key provisions like work scope, payment terms, and liability limits.
• Maintaining records of all communications and amendments.

Ongoing Legal Support & Compliance

Legal work doesn't end after launching. It includes risk management, contract reviews, and compliance.

• Conduct periodic legal check-ups to keep agreements relevant.
• Utilize ongoing legal support for documents and planning.

When to Seek Legal Help

Engaging legal help early can prevent issues later. Key times include:

• Before forming a business.
• Before signing unfamiliar contracts.
• When hiring employees or considering significant changes.

Why Choose Mark V. Kelly, Attorney at Law

We offer:

• Local, approachable service with practical advice.
• Transparent flat-fee services in many cases.
• Comprehensive experience from company formation to contracts.

Your Small Business Legal Checklist

• Choose a business structure.
• File required documents with legal assistance.
• Draft and review contracts regularly.
• Conduct legal reviews annually.
• Maintain insurance appropriate for your business.

Ready to Take the Next Step?

If you're launching a venture or reviewing existing operations, contact Mark V. Kelly, Attorney at Law for clear, practical advice. Visit us at 112 West D Street, Alpha, Illinois or call (309) 629-3100.