Starting your legal business

Hey guys, is there a topic on DP on how to start your own, legal business?
If not, how did you start yours?

 

To start a business you need some initial investment, a lawyer, an accountant, a good product/service, a decent margin, a reliable network, the will to fight, ...and the most important: you need sales! Nothing will ever exist if you don't have sales, so get ready to put "cold calling" on top of your priority list.

 

First things first you need to be a lawyer or have a lawyer as a business partner.
You also have to decide what niche of legal field you want to focus on.

 

I understood the question to be how to start a business in a legal manner not necessarily a business in the legal field.

Much of the answer would depend on where you live and what type of business you seek to start.

 

If in America you need to register your DBA or corporation, and then register for tax id. You might have to register in your city, county, and state as well. It highly depends on where you live and what you're doing.

 

You do not necessarily need to do any of those things. (Register DBA/Corp, obtain Tax ID)

Depending on where you live you might need to get a business license, although I am not even sure that is required in every jurisdiction. It is where I live and in most cities.

 

I've been running a small business in Montreal, Canada for about 8 years now. I've only consulted a small business lawyer a few times over the years, mainly because we modified our bi-laws. You should also limiting your liability. If you are going into business with more than 1 person, you should register as a corporation. I am not an expert, however with my basic understanding, is that the business in the eyes of the law is considered a separate entity, whereas in a partnership the business would be liable to yours or your partners debts. In Canada we have to register both federal and provincial jurisdictions which will run you about 500$. Applying for a tax # in quebec is free. Depending on what you are selling, there are some restrictions and possibly specific licenses you'd need to require when registering. Best of luck!

 

Do lots of reading and research, knowledge is power, the power to succeed.
Most online businesses escape local business licensing requirements they are more geared towards local bylaws, places where people go, insurance issues, liabilities and other benefits to the business like local listings and credibility. It's ok to get started online so you have the money to afford to register everywhere you can get every local license and membership possible, chamber of commerce, BBB, etc. All these things will help you a lot whether it's online or not. The biggest need for registrations is if you have local customers and sell taxable goods or services, as you need to file taxes properly.

 

You need to follow the rules as per your country and fulfill the documentation requirements accordingly. Rules and regulations varies from country to country.