In Montana, local laws apply when an owner chooses to start a new business or expand their current company. All prerequisites must be met before a business license is provided. A business plan is essential to the overall process. An attorney provides advice about Business Law Great Falls, MT for prospective owners.
Setting Up the Business
When starting a business, the owner must select a business type. Among the choices are a sole proprietorship, partnership, limited liability company, and corporation. The type defines whether or not the owner will hire employees and need worker’s compensation insurance. It also determines who pays taxes and if shareholders or a board of directors is involved.
Securing Intellectual Property Rights
Companies must also protect their intellectual property rights. The company logo, trademarks, and specific content that belongs strictly to the business is protected by applicable laws. Copyrights and trademarks are secured for these reasons. Any violation of the law is prosecuted to the highest degree. Any financial gains acquired through the use of the company’s intellectual property are recovered through a lawsuit.
Reviewing Product Liabilities
Product liabilities could present a serious financial loss. An attorney explains all instances in which the liabilities could occur. The business owner must secure the right liability insurance coverage to protect their interests. Typically, general and global liability insurance provides adequate coverage for the probabilities. The attorney could also present methods based on clauses in the company’s contracts that protect against the liabilities.
Setting Up Contracts
Contracts are vital for all businesses, and attorneys introduce clauses to protect against breach of contract. The details outline the expectations of the company as well as their client. All terms of partnerships are also defined in contracts, and they prevent either party from deviating from their individual responsibilities.
In Montana, businesses are established through a series of steps. First, the owner must choose the type of business they want to start and obtain a license. Next, contracts are created according to the preferences of the owner and/or their partners. Individuals who need answers about Business Law in Great Falls, MT can contact an attorney or browse our website for more details right now.
