The How of Business – Business Legal Episodes
These episodes of The How of Business podcast are related to the legal aspects of small business, including legal entities (like an LLC or Corporation), asset protection, liability protection, partnership and operating agreements, trademarks, copyrights, and other legal topics.
[LEGAL DISCLAIMER: Please be sure to seek your own legal guidance from your attorney before taking action on anything shared in these episode. Please read our full Disclaimer.]
Avoiding Business Partnership Disputes. Avoiding the Partnership or Founder Disputes that can ruin your small business with attorney David Siegel. David Siegel is an attorney and partner at Grellas Shah, LLC. Grellas Shah is a full-service boutique law firm, with a focus on startups, technology, and venture law, as ...
Legal Considerations of Buying a Business. The legal considerations of buying and selling a small business with Danya Shakfeh, a mergers and acquisitions attorney. Attorney Danya Shakfeh shares insights and general guidelines, from a legal perspective, about buying or selling a small business. We discuss some of the ...
Conflict Resolution with Christy Foley. Conflict Resolution strategies and tactics for small business owners with attorney Christy Foley. As a business owner we often must deal with conflicts of different types, intensity, and significance. On this episodes, Christy Foley shares some valuable insights on how we may be ...
Tax Structuring for Wealth Building with Sharon Winsmith. Tax Structuring and planning for Wealth Building for small business owners and entrepreneurs with Sharon Winsmith. Sharon Winsmith is an experienced tax attorney and the founder and owner of Winsmith Tax – helping her clients develop sustainable tax strategies for ...
Transform Your Expertise-Based Business with Erin Austin. How to transform your expertise-based small business with attorney Erin Austin. Erin shares how she helps her clients transform an expertise-based or service business – including consultants, coaches, designers, creative services firms, and other B2B professionals – from an unscalable, income-focused ...
Privacy Laws for Small Business Owners with Jodi Daniels. Privacy Laws for Small Business Owners with Jodi Daniels – an introduction to the laws that apply to customer information and data privacy. Are we aware and compliant with all of the privacy laws that we are responsible for ...
Legal Protection for Your Small Business. Legal Protection for Your Small Business. How to legally protect your small business with Christina Scalera, an attorney and small business owner who fully enjoys the freedom of location. She is the founder of The Contract Shop, and on this episode she ...
Trademarks & Copyrights for Small Business with Andrea Sager. How to use Trademarks and Copyrights to protect your small business and intellectual property with attorney Andrea Sager. LEGAL DISCLAIMER: Henry Lopez is not an attorney, and Andrea Sager may not be your attorney. Please be sure to seek ...
Patents for Start-Up Businesses. Patents for Start-Up Businesses with Patent Attorney Russ Krajec. Russ shares his entrepreneur journey and insights on patents for small business owners. NOTE: Please be sure to seek the advice of your own patent attorney before making any decisions or taking action on your patents ...
Small Business Asset Protection with Mark Balsom. Asset Protection for your small business, with attorney Mark Balsom. Mark explains various aspects of an effective comprehensive asset protection plan for your business and your personal assets. NOTE: The information shared in this episodes is shared as general knowledge and education, ...
Legally Protect Your Small Business with Scott Reib. Legally protect your small business (7:37) with Scott Reib, an attorney, popular speaker, coach and the author of “5 Proven Strategies to Shatterproof Your Business.” Scott shares why he decided to study law, his small business experiences, and growing his practice ...
Small Business Law with Lin Eleoff. Small Business Law with Lin Eleoff, an entrepreneur, internet business attorney, life coach and author. Lin shares her entrepreneurial journey, and valuable internet legal guidance for small business owners. [Notice: Lin offers general legal opinions on this episode, but she does not represent you individually, ...
Avoiding Small Business Blunders. How to avoid common small business blunders with attorney, CPA, author, speaker and small business owner R. Shawn McBride. Shawn shares his entrepreneurial journey, from attorney and CPA, to starting his own firm and writing several books for small business owners. Avoiding Small Business Blunders ...
5 Tips for Selecting an Attorney for Your Small Business
Selecting an attorney for your small business is a crucial decision, as legal advice and support can be vital at different points in the life of your small business. Here are five tips to consider when choosing an attorney for your small business:
- Identify Your Legal Needs: Understand the specific legal needs of your small business. Different attorneys specialize in different areas of law. For instance, if you need help with intellectual property, look for an attorney specializing in that field. If you’re drafting contracts or dealing with employment law issues, find someone with expertise in those areas. You may instead just require a small business lawyer with a broad range of knowledge and experience to help with your typical legal needs.
- Look for Relevant Experience: Choose an attorney who has experience working with small businesses or startups. An attorney familiar with the challenges and dynamics of small businesses will likely provide more tailored advice and understand your business’s unique needs.
- Check Their Reputation and References: Research the lawyer’s reputation in the legal and local community. Look for reviews, ask for client references, and check if they have any disciplinary actions against them in the state they practice. A reputable attorney should have a track record of professionalism and success.
- Consider the Size of the Law Firm: The size of the law firm can impact the level of attention and resources available to you. A smaller firm might offer more personalized service, while a larger firm might have more resources and a broader range of expertise. Consider which is more suitable for your small business needs.
- Discuss Fees and Billing Practices: Understand how the attorney bills for their services. Some work on an hourly rate, while others may offer flat fees for certain services. Make sure their billing practices fit your budget and discuss how expenses will be handled. It’s important to have clear communication about fees to avoid surprises.
Remember, the relationship with your attorney is a partnership. Choose someone you feel comfortable communicating with and who understands your small business’s vision and goals. It’s often beneficial to have an initial consultation to assess whether the lawyer is the right fit for your business.
5 Legal Considerations for Small Business Owners
For small business owners, navigating the legal landscape is crucial for protecting their interests and ensuring compliance with laws and regulations. Here are the top five legal considerations for small business owner:
- Business Structure: Choosing the right business structure (such as sole proprietorship, partnership, LLC, or corporation) is vital. This decision impacts tax obligations, personal liability, and the ability to raise capital. Each structure has its own legal implications, so it’s important to choose the one that best suits the business’s needs and goals. We recommend that you consult with a CPA or Tax Attorney to help you determine the best legal structure or entity for you business.
- Licenses and Permits: Depending on the type of business and its location, various licenses and permits may be required to operate legally. This can include general business licenses, professional licenses, health and safety permits, and zoning permits. Failure to obtain and maintain the necessary licenses and permits can result in fines and other penalties.
- Contracts and Agreements: Well-drafted contracts are essential in safeguarding your business interests. This includes contracts with partners, suppliers, customers, and employees. These documents should clearly outline the rights, responsibilities, and expectations of all parties involved. It’s advisable to have these contracts drafted and reviewed by a legal professional.
- Employment Laws: If your business has employees, you need to be aware of and comply with employment laws. This includes laws related to hiring practices, wages, workplace safety, employee benefits, and anti-discrimination. Non-compliance can lead to legal disputes and significant financial penalties.
- Intellectual Property Protection: Protecting your business’s intellectual property (IP) – such as trademarks, patents, copyrights, and trade secrets – is crucial. IP is a valuable asset that can give your small business a competitive edge. Properly securing and defending your IP rights helps prevent others from infringing on your creations or brand.
In addition to these considerations, it’s also important for small business owners to stay informed about changes in laws and regulations that may affect their business. Consulting with a legal professional who specializes in small business law can provide valuable guidance and help avoid potential legal pitfalls.
The How of Business podcast, hosted by Henry Lopez a small business coach and serial entrepreneur, is focused on helping you start, run and grow your small business.