Forming a Business Enterprise – The Legal FAQs

When it is about starting a new business there are several key decisions to be made by you regarding organization structure, financing, management and operation and many more. The most important aspect we generally ignore is securing the business establishments with legal regulations and permissions. The basic homework a business owner should concentrate on before even thinking to start an entity.

Believe it or not, without finding an attorney and free legal resources or documents your knowledge won’t be complete. Here the specifications are about New Mexico Business law, though the primary level rules are same all where for a particular state in US.

Here we can run a brief session to take you through the basic functionalities of business law with much appreciated help from New Mexico Business Attorney. Finding answers of these inquiries would enable you take a wise decision.

Do you need a license or permit to open your business account?

It depends on the type of your business. Certain trades require special permissions or licenses. For example professional service like doctors, teachers, lawyers, accountants and commercial trades like alcohol manufacturers, fire arms producers need these.

Do you need a Taxpayer Identification number for your business?

Yes, most of the companies do this by filing with the IRS to receive an Employer Identification Number (EIN). This is to identify companies and their workforce. Those who can’t afford EIN should have a social security number at least.

How do you register yourself for an online business?

This is basically registering the domain name i.e. selecting your website address. You need to find the domain name customized to your business and check whether it is already registered or not. Ask for some good referrals of legal directories.

Do you find sole proprietorship advantageous for your business?

With sole proprietorship you can avoid any special legal construct in your business and enjoy exclusive right to make business decisions. Since there is no corporate taxes, filing fees or negligible legal fees associated with it the process is inexpensive.

Do you find Limited Liability Partnership a good option?

Again it depends. The advantage is – Each partner is personally liable for his or her own negligence or of the employee under his/her supervision. But the rule doesn’t comply while incurring debts.

How to form a corporation?

There are few simple steps:

1. First of all select your business name. Ensure you have passed the state rules and the words or phrases used in your business name don’t defy State laws. Visit the secretary of your state’s website.

2. Start preparing and file the necessary paperwork with the Secretary of state in the State of incorporation. Pay your filing fees.

3. Choose the board of directors, directors, officers to form corporate governance. A business Attorney would guide you on that.

4. Issue stocks to the owners, set up bank accounts, bookkeeping system, collect licenses, permits from local Government offices; opt business insurance, purchase office equipments, hire employees.

With all these strategies you can run your business smoothly.

How to Handle Construction Site Injuries and Construction Accident Claims

Progress is inevitable. That’s why more buildings are constructed every now and then. Thus, one can easily expect the number of construction site accidents to pile up as well. Although construction sites are undoubtedly a dangerous spot, it should not be used as an excuse not to provide construction workers a kind of security and protective measure that they enormously deserve. In fact, they should be provided with more safety programs and remunerative support especially when they are implicated in any construction-related accident. A personal injury attorney will be able to help an injured construction worker in terms of pursuing a claim for any compensatory damage while at work.

One of the tangible manifestations of progress is a series of tall edifices, countless constructions of new structural units, and construction of intricately-designed buildings. However, coupled to the growing number of buildings made year after year is the increasing number of construction workers getting injured and involved in life-threatening accidents. The more intricate the design of the building is the more difficult it is to build. As a result, the propensity to get involved in an accident at the construction site also increases.

When an accident happens in a construction site, is it largely due to the worker’s carelessness? Or is it by someone else’s negligence? Who should take the responsibility for a construction site accident? Is it solely the fault of the construction worker or it may be due to the shortcoming of the owner, architect, contractor, engineer, or firm? Personal injury attorneys will be able to help in determining who is largely responsible for it. Seeking legal counsel from personal injury lawyers is essential in finding out if you are eligible for compensation. Furthermore, the legal processes may seem complex and intimidating when claiming for a compensatory pay for injuries sustained at a construction site accident. For personal injury attorneys, dealing with any legal matter is their expertise. Thus, an accident lawyer is the best person to conduct the legal aspects of it. He will also be able to duly address the claim to the liable party. For instance, the company you work should ideally cover for the damages. However, it does not happen all the time. Oftentimes, the company is unable to provide monetary assistance to injured workers right away. This is why it is important to seek the legal expertise of an accident attorney. A highly experienced and skilled personal injury lawyer can help you attain the compensation you deserve as soon as possible.

Construction Document Management Services and Its Purpose

Typical Construction documents contain all critical information such as bidding papers, building plans, specifications and related documents required for the construction of a building or structure. These documents are used for various purposes. They help explain the needs of the owner into a buildable format that can be unanimously understood within the architectural and structural community. They also help the owner to put the project out for bid and to get necessary approvals from regional authorities. At last, they impart complete instructions to the contractor as to how the project should be executed.

Generation of a set of construction documents begins with the developer. The architect drafts different sets of building plans, which the builder revise and approve at each step before the construction is carried further. The conclusive set of plans is commonly referred to as 100% construction documents (CDs).

This final set is divided into three components. The major component is the set of building plans or drawings. These may contain everything from floor plans to architectural drawings. Plans for any project are generally divided into many different sections. The plans will begin with architectural drawings followed by mechanical, structural and electrical drawings.

Second component is the specifications manual book. It includes information regarding materials and methods to be used for construction. People who are new to the construction field often ignore the manual and concentrate only on the drawings. This is not the best practice since the manual often contains details not found on the building plans.

The third component is made up of the revisions made by the architect, structural engineer or the owner during the design phase. Official changes are published in the form of supplemental instructions, directives or bulletins. These written changes are included as an official part of the construction documents.

Once a completed set of construction documents is ready it is sent to prospective contractors for bidding and finding cost estimation of the project. Since they form a part of the legal construction contract, it is very important to provide accurate and comprehensive details. Each document should serve to a specific purpose so that the retrieval of information is simplified and the possibility of contention is considerably reduced. Each team member should benefit from this standardized approach of placing information within the documents.