Navigation: | Home | 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | 11 | 12 | 13 | 14 | 15 | 16 | 17 | 18 | 19 | 20 | 21 |
Entrepreneurialism Information Click here for eBay Motors! Get 2 weeks FREE CA Anti-Virus 2007 Accept Credit Cards Get your FREE $250 Cash Card PhotoStamps

This Domain For Sale. Contact us for more information.


Starting Your Business By The Book


I've gotten several questions recently about the legalities of starting a business. So, this week I thought I would address a few of the more common legal issues most new businesses face. But first, let's get the mandatory legal disclaimer out of the way: the advice dispensed by this columnist is probably no better or worse than the advice dispensed by other columnists. Do not take the following advice as gospel or bet the future of your business on any advice given herein by said columnist.

Agreed? Good, let's proceed.

To begin, here's the best legal advice I can give you as a new business person: find yourself a good lawyer and make him or her your very best friend. Granted, your new best friend will charge you an hourly fee for chatting on the phone or talking business over lunch, but you'll find it to be money well spent. A good attorney can save you far more than the cost of his services. I rarely make any decision that has the potential to impact my business without first consulting my attorney.

You can locate an attorney through legal referral services or just by opening the phone book, but the best way to find a really good attorney is to ask other business owners for references.

You want an attorney who specializes in business matters. A few of the things you may need legal help with are: legal business formation, articles of incorporation, trademarks and copyrights, investment documents, employee policies, etc. You may find that a single attorney can't meet all your needs, but if you use a larger firm they will have attorneys on staff that can provide the specialized services you require.

Now, let's take a brief look at a few questions I've received regarding the legalities of starting a new business.

What's a DBA? "DBA" stands for "doing business as." A DBA is another name that you use in the operation of your business other than the legal name. For example, "Jones, Inc." might be the legal corporate name of your business, but you might use "Bob Jones Landscaping" as the everyday business name. In this case, you would see the business described in legal context as "Jones, Inc. Doing Business As Bob Jones Landscaping."

Here's an example of using a DBA to launch a new venture within an existing business. A reader asked: "My wife incorporated a multimedia business three years ago, and I am starting a voice-over business. Is it more beneficial for me to open as a sole proprietorship or to operate within her multimedia business?"

My answer was that he should open his company as a division of his wife's business, operating as a DBA. Even though he is using his own business name (the DBA), technically his wife's corporation is launching the service and therefore will give him some liability protection. Doing so would also help him save on start-up costs (such as having to pay for a separate incorporation). It's relatively simple to keep a separate set of books, and when the new business takes off, he can spin it off into a separate entity.

Will a corporation protect me from liability? It can, if handled correctly. You may have heard about the "corporate veil," which means that you can't be sued personally for anything that happens in the corporation and your personal assets can't be attacked by creditors or a lawsuit on the corporation. But in order to have this protection, you must act like a corporation. This means conducting board meetings, taking notes and publishing minutes in your corporate book.

In addition, be sure to have a separate corporate checking account and, if you need them, corporate credit cards. Don't use corporate money for personal purchases, and vice versa (unless you file an expense report). Many people think they don't need to go to all this trouble if there is just one or two people in the company, but in order to be treated like a corporation, you must act like one. Your attorney can give you more details.

How do I register my company name? To register your company name simply contact the office of the Secretary of State. This is easily done by phone. The registrar will tell you if the name you have in mind is available as a corporate name and will reserve the name for you if it is available. You will be sent a form to complete and submit with a nominal fee. For more information you can also visit the Secretary of State's website.

Do I need a business license? Nearly every business will require a county or city license. Luckily, such licenses are relatively easy to obtain and are not expensive. For local licensing requirements, contact your city or county government offices.

Some businesses might also require a state license. For example, hair stylists, contractors and most businesses serving food fall under the purview of the state licensing board. Each state has an agency that deals with these types of businesses. Contact your local government offices to see if your particular business requires a state license.

Some businesses will even require federal licensing. Examples of such businesses would be those that provide investment advice or that deal with firearms. Federal licensing is typically required for businesses that are highly regulated by the government.

I operate my business out of my home. Do I still need a license? Operating a business out of your home does not get you off the hook when it comes to licensing. You should check local zoning requirements and property covenants. You can find this information at the court house or by calling your local license department. Home businesses are also subject to zoning laws that regulate how property can be used and may restrict various activities.

This is just a sampling of the legal issues that must be addressed by every new business owner. To learn more, take your favorite lawyer to lunch.

Just be prepared to pick up the tab.

Here's to your success.

Tim Knox

Tim's latest book is "The 30 Day Blueprint For Success!" We asked 58 Top Internet Money Makers: If you lost is all tomorrow and had to start from scratch, what would you do to be back on top in the 30 days? Their answers just might make you rich!

Related Links:
http://www.prosperityandprofits.com
http://www.dropshipwholesale.net


MORE RESOURCES:
Business:Entrepreneurialism Articles from EzineArticles.com
04/20/2021 11:35 AM
What Is the Best Online Business You Can Start?
Starting an online business is a great way to create a lifestyle that you enjoy living. But, you must be realistic as you develop your business.
04/11/2021 02:42 PM
Looking to Build Your Network? Please Avoid This 1 Mistake
Networking isn't just about meeting new individuals. It's also about you maintain connections. Ignoring the current connections of your professional network because you're excessively focused on development is a big blunder. Don't just consider about meeting and getting to know new professional contacts. Don't fail to remember to keep up with the people you by now know.
04/11/2021 02:39 PM
How to Face Your Fears and Get More Business Leads
What fear do you have lurking inside of you, preventing you from enjoying life, or creating a successful business for that matter? When it comes to our business, fear can definitely stop us in our tracks, preventing us from moving forward and achieving our goals.
04/06/2021 11:39 AM
A Realistic View of Being Self-Employed
If you are thinking about becoming an entrepreneur, you'll want to know all about your field, your products and your customers... but you'll NEED to know about running a business. It is important for business owners to realize all the hidden areas that eat up a surprising amount of time and energy behind the scenes in running a business.
04/06/2021 11:33 AM
Business in a Slump? 13 Ways to Get Your Motivation Back
Truth be told, it's a fact of life for every entrepreneur and business owner... we are going to get into a rut every once in a while. We're human after all! The good news is that this slump can be very temporary... if you choose it to be. Here is a list of things you can explore the next time you feel this lack of motivation sweep over you.
03/09/2021 05:39 PM
Business Success Guarantees Business Longevity
The most important tool I use in building my businesses is my intuition. I've discovered that when I trust my feelings and intuition more, I'm more able to see opportunities that others are missing. This is important as it allows me to make decisions and take action faster. Here are a few tips on using your intuition to propel your business forward:
03/01/2021 08:59 AM
The Downfall of the Stubborn Entrepreneur
Why You Aren't Getting More Clients and Leads (and it's not for a lack of trying). And it could be because It's Not About HOW; It's About WHAT.
02/08/2021 08:44 AM
Why You Should Write an eBook
Using an eBook to market your business is an excellent idea. It can be a great calling card for your business with proof of your expertise.
01/29/2021 01:19 PM
Tales From the Online Marketing Crypt 10 - Playing the Dangerous Comparison Game on Social Media
Before you start comparing your business to someone else's, realize you do not know the whole story. You do not know the trials and tribulations they've gone through, you don't know anything they are choosing not to disclose on social media.
01/27/2021 10:54 AM
How to Create a Buzz About Your Business
If you want to create buzz about your business, using social media is a great way to do it. Try these different ways and see what reactions you get. Keep doing new things as often as you can to keep the buzz going.
01/08/2021 11:42 AM
How No More Military PT Tests Are Hurting My Business
When I left the military I packed on 15 pounds pretty fast. My recent trip to the doctor's for the first time outside of the military was highlighted with the lovely comment from the doc, "You know, technically you're obese."
01/06/2021 10:18 AM
\"Learn How to Promote Digital Products and Earn Your First $10,000 Online."
You're invited to attend... Complete Access to TWO Separate Training Tracks: ClickBank Product Publishing & ClickBank Affiliate Mastery
12/23/2020 03:07 PM
The Power of the Hand Written Thank You Note
Why should you send a Thank You Note. What should you say. State a Call to Action closing sentence.
12/22/2020 10:08 AM
The Key to Continual Growth and Expansion
Growing and expanding requires self-awareness of what you are doing and what you're not doing to move forward. If you're succeeding, keep on doing what you're doing. If you're behind, it's okay; you just need to adjust.
12/21/2020 12:15 PM
Winning the War Over Loans and Debts As an Entrepreneur
Among the things that can make or mar a business is taking loans. People take loans to meet up with their expectations. However, it takes a wiser entrepreneur to decipher when to or when not to take a loan. Loans can do wonderful things for you when properly managed. It can help solve urgent problems, cater for substantial expenses and grow businesses. Though loans can work perfectly for those who have steady income, yet it has the propensity of entangling those who struggle to earn a living. It is very important for every entrepreneur to note that a mismanaged loan is hell.
11/16/2020 09:05 AM
How Can You Make Your Online Business More Successful?
Many entrepreneurs have gone before you and figured out how things work, so that you don't have to reinvent the wheel. You can follow what other successful online entrepreneurs have done and become successful doing it.
11/02/2020 10:01 AM
How To Develop The Mindset Of An Entrepreneur And Become Successful
Mindset Is Everything-You won't be awesome at being an entrepreneur unless and till you condition your brain for getting into business and then making the most of it.Any trade can be really tough to comprehend. However, if that is something somebody wishes to do, then how do you do that effectively? Here are a few great tips that I have come up with on how you are able to become that awesome entrepreneur as well.
11/02/2020 09:20 AM
Winning at the Proposal Game
Submitting bids and tenders is a great way to grow and expand your business and is a great way for a small company to become a much larger company. It can be frustrating and costly to bid, this work taking you away from other business activities. However, winning a bid gives you access to a new customer and other project opportunities. You also have to consider as to whether you have the financial standing and moral fortitude to undertake large projects so choose your opportunities with great care. Smaller projects can help your company grow efficiently and profitably with less drama and anguish. Here are a few pointers to remember when producing tenders.
11/02/2020 09:15 AM
There Is Such a Thing As Too Much Free Content
When you fundamentally reexamine your marketing strategy, it's very freeing. You can focus on what's most important.
10/22/2020 11:34 AM
The Pros and Cons of Working for Yourself
Working from home offers many benefits and even a few drawbacks. It's up to you to determine if you have the personality for it. You'll need to rein in family and friends who want to take advantage of you, as well as yourself, to stay on track for creating a healthy and profitable home business.
10/12/2020 09:53 AM
The Impact Trifecta: Make the Most of Your Impact Efforts
Impact can feel oddly unsatisfying. If you're feeling that your impact isn't fulfilling you, that's a clue. Maybe you're not having all the impact you want to have.
10/02/2020 10:22 AM
How To Show Your Expertise When You're Starting Out
To show your expertise when first starting out doesn't require you to have a huge client roster, or even a following yet. Use these tips to help you gain a following, improve search engine optimization (SEO) and build your business.
09/29/2020 09:03 AM
5 Things to Think About Before You Start a Business
Before you start a business and kick off your entrepreneur journey, you need to understand a number of things. Here are five to think about before you invest your money.
09/29/2020 09:01 AM
How Do You Create Multiple Streams of Income?
Here are just a few of the ways you can create multiple streams of income online. There are also ways you can do it offline such as savings, investing, rental income, and more.
09/28/2020 09:45 AM
Does Money Make You Successful?
When people want to become entrepreneurs they don't actually think about the work. They think about the freedom.
09/28/2020 09:43 AM
Your Fear Is a Valuable Messenger
I know you care about impact. Fear will keep you from it, if not by shutting you down, then by distractions. We all feel fear, so what can you do?
09/02/2020 01:33 PM
Discovering Lucrative Business Opportunities
There are several ways to be successful today but the most popular one is almost always acknowledged as venturing into a world of capitalizing on online business opportunities. People who are able to do this easily usually reap in the positive benefits many folds.
09/02/2020 01:27 PM
Ready To Position Yourself As an Expert?
Becoming an expert is a process. At first you will feel as if you'll never make it, but everything you do builds on the next thing and eventually it will snowball to true success.
09/02/2020 01:25 PM
It Will Take More Than Motivation To Make A Business Succeed
Many people naturally have the leadership abilities that are necessary to operate a successful business based on their family environment while they were growing up. Their basic character traits are often nurtured and manifested during these stages.
08/31/2020 09:26 AM
Are You Enough?
What would it mean if YOU were enough? All the things you need to have a successful business.
08/17/2020 12:59 PM
Postpone Your Impact, and It May Never Happen
When you postpone your impact, it may never happen. Life will always get in the way, if you allow it.
08/11/2020 11:45 AM
Do You Have What It Takes To Become An Succesful Entrepreneur?
Deciding to become an entrepreneur is just the beginning. You know you want to own your own business and control your fate, but you're not yet sure exactly what it is that you should do.
08/03/2020 02:42 PM
Do Your Prospects and Clients Really Know You?
People buy from those they know, like, and trust. How can you help them get to know your business? How can you build their trust?
07/24/2020 10:25 AM
Be Willing to Fall Flat on Your Face
Being the leader you want to be, to have the impact you want to have, will not always be well received. You might take that as a failure. But is it?
07/08/2020 09:48 AM
The Secret Shame Of Having A Full Time Job
According to experts, More than 47% of Americans today cannot pay $400 for an emergency without having to borrow that money. The secret shame is that most of that 47% had full time jobs when answering this question. That number is even worse today as millions have lost their jobs.
07/08/2020 09:48 AM
How Becoming An Author Builds Expertise
If you want a fast way to become an insider within your niche, push yourself to new heights, and become the expert you know you are, becoming an author will do that for you. But, you must get started and learn all you can about marketing once the book is finished.
07/03/2020 11:30 AM
How To End A Business Relationship Amicably
Ending a business relationship is never easy, but once you do let go of clients who aren't ideal, you're going to free up space to attract your ideal clients. Plus, once it's over you're going to feel so much better about your business and yourself.
07/02/2020 11:37 AM
Are You Honoring Your Values?
So much is going on in the world right now, that it can be difficult to focus on your business' values. You may be going through some financial challenges due to the pandemic, and even if that's not the case, it can feel hard to consider one more thing as you pivot and adjust. I have had to make conscious and sometimes difficult choices in my own adjustments to stay aligned with my values and those of my business.
06/30/2020 06:30 AM
You Are Made For These Times
Ever feel like you want to just leave everything behind and go elsewhere? I sure do. But we're here. How do we rise to these times?
06/22/2020 08:50 AM
5 Tips to Make Big in Business From the Expert Business Coach
Get tips to make big in business from the expert business coach Thamizharasu Gopalsamy. One can learn business basics with this pen work.
06/19/2020 04:19 PM
Honest Grant Cardone Marketing Mentoring Program Review
Do you know Grant Cardone? Do you strive for success? Are you passionate? If you want to learn from the best Grant Cardone is your guy. You are about to take a "DEEP DIVE" and become submersed into his Marketing Mentoring Program. We will take a look and I will help educate you on what I have learned, and where you will benefit by joining him on his mission to create success, and help you do the same.
06/15/2020 02:39 PM
When Celebrating Your Big Accomplishments Is Hard
Celebrating your significant accomplishments can stir up feelings and resistance. Here's how to deal with that.
06/15/2020 02:32 PM
What Exactly Is Passive Income?
Any income where the individual does not have to physically earn is called passive income. This of course is a very attractive way of earning an income and indeed those who are lucky enough to make a decent living this way are quite happy. Ways To Generate Loads Of Passive Income- There are currently some very popular and common ways to earn a passive income.
06/08/2020 09:13 AM
Find Your Fierce
You want to have impact with your business. You'll have a lot more impact if you get in touch with your fierce.
06/01/2020 08:48 AM
Are You Becoming the One?
Impact calls you on a deeper level. If impact were just about taking action, you would have had that impact already.
06/01/2020 08:43 AM
Respect Payroll
Entrepreneurs at times have such passion for their product that they overlook payroll. This article describes some common startup payroll problems, and their solution.
05/25/2020 01:14 PM
Your Relationship With Desire Shapes Your Impact
Your impact is a deep, unique expression of who you are. Diminishing your desire for impact rains on the parade of who you are and what you contribute.
05/18/2020 10:35 AM
Rethinking Your Business Plan? Be Sure to Include This
We're in the midst of a significant disruption of business. Creating a new plan focused on this one thing keeps you on track.
05/14/2020 09:50 AM
How To Handle Criticism In Business
There are essentially three types of critics. Each has a different agenda and all but one has something good to offer. It's important to understand and differentiate between these three types of critics so that not only can you quickly identify those whom you should listen to and those who you should ignore, but also so that you can learn to provide criticism yourself in a constructive and useful way.
05/11/2020 07:49 AM
Are You Afraid of Your Own Impact?
It's worth it to start to explore what's holding you back from the compelling, exquisite impact that you could have. Your impact matters.


home | site map | contact us
infolinks.com/js/infolinks_main.js"> s">