If you want to start a business, you have a lot to consider. You need to consider what to sell, find an accountant, and more. But you shouldn’t forget about the legalities of starting a business. From forming your business to mitigating lawsuits, here are a few legal things you need when starting a business.

Formation Paperwork

When starting your business, you need to decide what the structure will be. If you’re going to be the only employee, you can be a sole proprietor. But if you want to grow your company, consider forming a limited liability company (LLC) or S-Corp. You can look into other business structures to find the right one based on your business goals. Not all businesses should have the same structure, so compare a few and ask a lawyer for advice to choose one.

Workers’ Compensation Coverage

Before you hire any employees, you should invest in workers’ compensation insurance. In case someone gets hurt at work, you need to be able to pay for their medical expenses. You should also contact a local Iowa workers compensation attorney. That way, you can work with them whenever you do have a workers’ compensation case.

Contracts

You should also have a lawyer write some contracts for your business. You’ll need one contract for any employees or freelancers that you hire, so your team knows what you expect of them. If you take on clients, you should also have a contract that your clients need to sign before you offer any services. That way, your clients won’t expect too much, and you will be covered as long as you deliver what you promise.

Starting a business isn’t easy, and it can be even harder when you add in all of the legalities of starting. If you don’t get workers’ compensation, one accident could bankrupt your company. So keep these things in mind to protect you and your business before it’s too late.