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Perhaps you and your family have decided to start up your own small restaurant business in Brockton. You've got everyone's roles in the business figured out—you'll be the head chef, your sister will manage the business's finances, and your mother and father will wait tables.
It's a great idea to start with, but now you've got to apply for licenses and permits, find a location, maybe hire a few more staff members and so on. There are so many considerations to make when starting a simple restaurant in Massachusetts!
For business owners in Boston, Worcester or Lowell, it's important to understand state and federal laws and know how to proceed when a legal issue develops. LawInfo has the Massachusetts small business law information you need from buying a small business to understanding the different business insurance policies available in your state.
If you're looking to purchase an existing small business, your goal is probably to buy a business with growth potential. However, that growth potential—and your return on investment—could be jeopardized if you're not wary of the risks of buying a small business.
Aside from determining a small business's value and your goals with the business, you should perform your due diligence prior to making a purchasing decision. This means researching and investigating the company's records, finances, and ongoing or past litigation. You'll want to find potential red flags in:
An attorney and an accountant can gather information on the business to help you determine the risks of purchasing it.
You've got an idea for a small business. How do you make that idea a reality? You might benefit from getting training and counseling if this is your first time making a new business. Generally, the first steps to creating a small business in Massachusetts include:
When your small business creates a new or original product, service or invention, you can protect it from your competitors in the U.S. by registering it as an intellectual property. Some intellectual properties like published writing or artwork are automatically protected under U.S. Copyright Law, but registering them with the U.S. Patent and Trademark Office provides you with convincing proof of ownership in a legal dispute.
There are three major types of intellectual property protections, each of which protects specific types of intellectual property:
This article is intended to be helpful and informative. But even common legal matters can become complex and stressful. A qualified business lawyer can address your particular legal needs, explain the law, and represent you in court. Take the first step now and contact a local business attorney to discuss your specific legal situation.