Tips from November 4, 2009
The Small Business tips today discuss legal concerns for start up businesses.
- Sole proprietors should incorporate their home-based businesses with tax benefits and protect personal assets from business liabilities.
- You can use your own name as your business name in most states without having to register it. Everything else needs some type of registration.
- Minimize disputes with clients by having thorough contracts, detailed wording with no room for excuses, multiple signatures, and clarity from both parties.
- General rule of thumb: a business that sells goods, needs a business license; a business that offers professional services (regulated by the state) needs a business certificate.
Daily Overview: All business legal concerns should be taken to a lawyer who knows the laws in your state, specific to your situation.