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WAHM > Business Ideas > The Legal Stuff You Need to Know.

Getting Started Tutorial - Step 4: The Legal Stuff You Need to Know.

If you’re a business, you likely have a few laws that you need to follow and a few decisions to make.

Let’s not beat around the bush, we’ll just be fearless and jump right in.

Here’s what you need to know:

What legal structure will you have for your business? Sole proprietorship, partnership, corporation or Limited Liability Company?

  • What type of business licenses do you need to legally operate your business? Check with your local City Hall about regulations or business license needs for your particular business.

  • What are your insurance needs? Include insurance on physical buildings, errors and omissions insurance for consulting and coaching businesses, liability, homeowners, health, etc.

  • How will you keep a record of your expenses for tax reporting? What taxes will you have to pay each year, quarter? The IRS website is a good resource for this information. It is important to have a system defined and organized before you begin doing business.

  • Do you and your employees have required legal certifications, diplomas or education to run the business?

  • If you have a website you will want to include a terms of use statement. A terms of use statement or privacy policy. It basically details your privacy protection policies. Take a look at the statement on this site.

It is also a good idea to post a copyright notification on each of your web pages.

This is not necessary to bring a copyright law suit, but it will help your case if you can show the person that copied your work was aware it was protected by copyright.

It may also scare some people into not using your working.

Okay, that wasn’t so tough was it? There are lots of resources for you at your local small business association and the IRS website. If you have any questions consult an attorney and/or an accountant for advice.

Next in our tutorial: --> Getting Started: Increase Profits and Efficiency by Using Technology

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