A Sampling of Business Law Tips
by Gerard Simings
Mention legal regulations to a businessperson and you will probably see their eyes glaze over. One can hardly blame them given the complexities of the subject. That being said, here are a few legal nuggets you should know.
1. NDA Protection ? If you are going to provide important business information to a third party, make sure to get an NDA. An NDA is a non-disclosure agreement.
2. Multiple Business Owners ? If multiple people own a business, avoid situations where the ownership interests are equal. If you don't, you can end up with deadlocks that require court intervention.
3. Trademark Decisions ? When should you make the decision to get a trademark? As soon as possible, but only when you have a couple grand you can spend on it.
4. Copyright Office Information ? All copyrights must be filed with the Copyright Office. It is a department of the Library of Congress.
5. Financing New Businesses ? Starting a business usually requires money. Many people make the mistake of first offering ownership interests in exchange for cash. Use this as a last resort.
6. Business Ownership Planning ? At the outset of a business start up, it is hard to image worrying about owners leaving. Well, you need to sit down and plan out scenarios with the owners. It is easier to negotiate difficult subjects before revenues are made.
7. Avoid General Partnerships ? Never form a general partnership unless you have to. This business form leaves all partners open to joint and several liability. This means everyone is entirely responsible for the debts of the business.
8. Business Failure Rates ? Roughly 80 percent of businesses fail in the first two years. Plan as much as you can before starting the business to increase your chances of making it.
9. Trademark Filing Delays ? Filing a trademark is an exercise in patience. It can take the Patent and Trademark Office up to a year or more to approve it.
10. Email Privacy Issues ? If you send messages by email, it is important to remember they are not private. Whether you have a business dispute or personal one, a court can order you to produce them.
At the end of the day, your specific situation is key to the legal issues confronting you. The best way to run your business is to have a handy lawyer a phone call away in case you need advice. Do it right the first time and you don't have to worry about lawsuits.
Conduct an
attorney search at FindanAttorneyforme.com. You are welcome to reprint this article - but get your own
unique content version here.
