These are two professionals that I personally would not be in business without. I count on both to keep me straight legally. When it comes to taxes I want the security of knowing my numbers all add up and the digits are going in the right places. And an attorney to make sure my “I’s are dotted and “t’s crossed or to handle any legal issues that may unexpectedly arise.
Large corporations will often have them on staff. But for a small business owner or someone looking to buy or start up a business you will need to acquire their services.
They are both crucial in the buying and selling of a business for auditing books, valuation of the business and of course closing. In this process I would suggest hiring your own and not sharing these services with the buyer/seller of the business. You will want someone that has your best interest in mind.
When I was looking at starting Venture Point I really had no one that I could ask on where to find an attorney versed on e-commerce businesses. The few people that I did approach didn’t even know what an e-commerce business was much less understand what I was trying to do. I looked in the yellow pages with no success. So like most of my research I went on the internet. Here I was able to find an attorney with e-commerce knowledge; however I found it interesting that there were only a couple actually listed in my state. I’m not sure if it was because of lack of advertising or because e-commerce businesses grew so quickly that the legal profession has had to swim diligently to catch up.
This is what prompted me to add “professional services” to the Venture Point website. Venture Point does not advise on accounting or legal issues. The intention of this website is to be a resource. And based on the questions that Venturepointonline.com receives through e-mails this is a much needed service.
So back to the question, “should you acquire the services of a CPA or Attorney?” There services can be costly, but more costly to you in the long run without them. Not a risk I’m willing to take.
The following is an excellent article on how to hire a business attorney;
http://smallbusiness.aol.com/manage/managing/article/_a/how-to-hire-an-attorney/20051213183309990009
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