Entrepreneurs should seek legal advice at the inception of their business and continue to consult with legal professionals as their business grows. Critical milestones include:
1. Business Structure: Deciding whether to form a sole proprietorship, partnership, LLC, or corporation. 2. Intellectual Property: Protecting trademarks, copyrights, and patents. 3. Contracts: Drafting and reviewing contracts with suppliers, customers, and employees. 4. Funding: Navigating the complexities of obtaining venture capital or loans. 5. Compliance: Ensuring the business complies with industry-specific regulations and employment laws.