Before opening the doors of your new business, you’ll need to lay its legal foundations. This can be a wide-ranging task for some business owners, as you may need to look at local, state, and federal laws that apply to your specific type of business. However, all businesses will need to consider trademarks, legal business structure, and taxes.

Register Your Trademarks

Your business name, logo, slogan, and design are all essential parts of your brand; they identify who you are, why you are unique, and how you serve your clients. To protect your business reputation and its integrity, you should trademark all names and symbols associated with your brand.

It’s fairly simple to register a trademark. First, you’ll do a search of the database to make sure what you have chosen is substantially different from any other trademarked name or symbol. Next, you’ll fill out an application with the U.S. Patent and Trademark Office.

Create an LLC

Businesses can be structured in a number of ways, but the LLC (limited liability company) has become one of the most popular. An LLC offers great liability protection for your business and each owner. If any debts or legal issues arise, only the LLC entity is responsible, and personal property or assets of the owners are not at risk.

Each state has slightly different laws for creating an LLC. For most, you register your business name and designate one person as the “registered agent” for accepting legal correspondence. You will also have to set up how the business is managed and organized.

Plan for Your Taxes

No matter how your business is organized, taxes will be required. You will need an EIN, or Employer Identification Number, for federal tax filing. You may also need a number on the state level. Even with an LLC, you will need to pay self-employment taxes.

If you manufacture or sell products, sales taxes or federal excise taxes can come into play. Matters get more complex if you have employees, since you will be responsible for paying employer payroll taxes. Local or specialized taxes may also apply.

The legal aspects of starting a business can seem overwhelming, but getting help from an attorney, tax accountant, or other professional may make the task easier for you. Once the legalities are in place, you’ll have a solid structure to build your business and achieve your goals.

Check out this article on how to be strategic about running your business!