Home | Self Improvement | Education
As a businessperson, knowledge is the key to your success. This is particularly true when it comes to basic legal situations. Following are some helpful tidbits that might apply to your business. 1. Shareholders vs Members In a limited liability company, there are no shareholders. They are called members instead. 2. Legality of NCA Many businesses ask their employees to sign non-compete agreements, also known as NCAs. Keep in mind they are illegal in some states! 3. Identity Theft Tip Never click a link to a site based on an email you randomly received even if the company is well known to you. Instead, go to a search engine and access the site that way. 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. Common Law Copyright When you create an artistic work such as a book or music, you automatically are granted copyright. If some infringes on your copyright, however, you must have registered it with the Copyright Office to get damages. 7. Copyright Library of Congress To copyright something, you need to file an application with the Copyright Office which is a department of the Library of Congress. 8. Corporate Tax Designations Once you have incorporated a business, you must determine the tax status of the business. If you do nothing, it is automatically taxed as a C-corporation. Alternatively, you can file for a S designation. 9. Going Ecommerce? Most startups dont think about going online before opening a brick and mortar office or shop. If you can get the hang of web design, it is much cheaper to start online. 10. The First LLC The first limited liability company came to us from Wyoming. To attract tax revenues, Wyoming passed a law allowing them in the late 70s. 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 dont have to worry about lawsuits.
Article Source: http://www.ApprovedArticles.com
Read Free contract law articles at FindanAttorneyforme.com. This article is available as a unique content article with free reprint rights.
Please Rate this Article
5 out of 54 out of 53 out of 52 out of 51 out of 5
# of Ratings = 1 | Rating = 1/5
