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.

Construction Site Safety Plan Generation – Reevaluating Your Approach

In the construction industry there are many risks which a company can experience, few of which are difficult to plan for. As a result of this hazardous industry there is usually a large focus which exists related to construction health and safety plans.

In fact, most governments demand that these companies produce the safety plans on a per job basis, assuring that each site have a customized plan of action relating to site safety. While most companies understand the importance that exists with safety, the steps which are needed to accomplish the generation of construction site safety plans proves to be a burden, affecting time on a job and the cost of a project.

The time and cost burden is often recognized as a result of the safety plan creation since many companies use hired legal services to generate them. Time and effort has to be placed in the creation of construction health and safety plans and several companies don’t see the value of hiring a person to accomplish this task. Rather they turn to legal services as their solution, as several companies’ do, to creating these required plans.

Needless to say no legal service is cheap, which is reflected in the high expense related to safety plans and the time it takes for these professionals to complete the task and usually impacts the burden of time on a construction project. Time and cost are often valuable factors related to a company’s ability to complete projects and the regular influence of legal services to create construction site safety plans is a chief con.

So, where can a company turn when they are trying to overcome the several cons which are related to creating these plans? Your best opportunity exists when you invest in the new solutions available with templates. When a company invests in templates, they are creating a new avenue of construction health and safety plan creation that is both low in price and time, when in comparison to the legal avenues. This permit a business to create their own plans using the simplistic layouts of templates. These templates feature easy use of personalization, allowing your business to create plans for any site in house rather than outsourcing to another company.

The opportunity to save money is the very first advantages out of the many that a company will have when they use the templates. Your associates could easily create construction site safety plans which meet the demands of the area without the need to pay costly legal fees. Time is saved since you no longer have to wait on the time frames of legal associates and can develop the plans when you require them.

Construction Accident Attorney

Construction accident attorneys are legal professionals whose role is to cater for construction related accidents and incidents. Their responsibility lies in ensuring that the people injured in a construction site are well compensated by the ones responsible for those accidents. They cater all legal matters geared at sustaining legal proceedings against the employer/construction company and their respective insurance companies so that the accident victims are adequately compensated.

Jurisdiction

Construction accident attorneys are trained in areas of law to cater for the welfare of construction workers and other injured construction site stake holders. They serve a wide range of construction site accident prone workers like electricians, roofers, plumbers and cart operators, among others.

They operate on the premise that worker safety at the construction site lies squarely with the owners of the buildings and their contractors. The responsibility for the safety measures at the construction sites also lies with the site engineers and other registered construction site professionals like architects and designers. In fact, recent studies show that construction accidents mainly occur because of negligence and carelessness on the part of these professionals. It is therefore, the duty of the construction accident attorney to make these professionals accountable.

Working

Most construction accident attorneys are either employed at law firms or in private practice, based on their academic qualifications. However, most of them are employed by law firms whose target market is the construction and real estate industry. When accidents occur at construction sites, they are among the first people to be dispatched to the said construction sites. Their role is to collect relevant evidence, exhibits, testimonies, witness statements together with the police and other relevant reports from the site of the accident, adequate enough to help them sustain trial. Their biggest responsibility however lies in how much they can link contractor or employer negligence and carelessness to the accidents.

They also provide initial legal advice to the injured in terms of making legal representation, so that they are not swindled or harassed. On most occasions, they normally file immediate law suits against the parties whose failures led to the accidents, as soon as possible to avoid distortion and interference.

Costs and charges

Whereas construction accidents handle common legal rights issues, most construction accident attorneys charge differently for their services. Some of the factors that may affect the Construction accident attorney charges include:

1. Size of construction-The bigger the construction site, the higher the legal fees cost.

2. Size of settlement- Incidentally, the larger the settlement being sought, the higher the costs in legal fees.

3. Type of law firm- different law firms charge differently, according to their professionalism,

success rate and tradition which may vary the cost of their representation. Recent studies also reveal that there are umbrella organisations which offer free legal representation to the injured in these cases, and so on.

In general, construction accident attorneys play a very important role that is in the interests of any construction worker, regarding accidents at their lace of work. Looking through your city’s legal brochures and classifieds can help you get a suitable one if in need of one.