Legal piece of advice for start-ups

attorney 1When starting a new business everyone is apprehensive about its success. But one thing no one wants to get into is legal complications. One of the key indicators of a successful business is when it is free of any legal tangle.

Gregory Dell’aquila, organizer at the Mission 50 Workspaces Hoboken, New Jersey, who aims to aid this process, held a start-up meeting with legal expert, Dror Futter from SorinRand LLP, a New York-based corporate law firm which tends to clients in sectors such as finance and technology.

The meeting stressed on the 10 most important things an attorney should inform the individuals looking to start their own businesses. The event was attended by lawyers, bankers, entrepreneurs, financial planners and analysts.

Futter started off by explaining that individuals realize the difference between an LLC and a corporate entity. It is important to know how the firm is going to be registered, what the trademark/logo of the firm should be.

“Always pay your taxes and pay to people who you are entitled to,” he said.

The speaker also stressed the importance of data privacy especially for healthcare, insurance related firms. He also went over by explaining the difference between hiring a consultant and an employee.

When asked how successful he thinks his lectures are, Futter replied with a smile, “Inevitably after a lot of programs, I do get a phone call or two telling me what I spoke in the lecture was helpful. This is quite rewarding.”

The event was insightful for most of the individuals.

“I attended the event because I realize the importance of legal matters when starting one’s own business.  I have several questions that I need to have answered by a legal expert and was hoping to find some answers,” says Carmen Bonilla, who previously worked in insurance and financial services and is currently looking to start her own consulting business.

“Whenever I get an opportunity, I attend such events in the hope of making contacts for my business,” said an investment banker who is venturing into the world of entrepreneurship.

Photo by Purva Chitnis

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