1. Avoid Oral Contracts ? In most situations, oral promises to do things are unenforceable, so avoid them. When it comes to contracts, the only thing important is what is in writing.
2. Operating Agreement vs Bylaws ? There are no bylaws for a limited liability company as found in a corporation. The Operating Agreement serves the function of the bylaws.
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. Corporate Protection and Crimes ? A corporation is touted a vehicle to protect shareholders from lawsuits and debts of the business. It does not provide protection from criminal charges.
6. Defining Shareholders ? The owner of a corporation is called a shareholder. The shareholder's interest is the number of shares he or she owns compared to the total shares issued.
7. Website Copyright Issues ? Many businesses need websites and yours probably does as well. If you use an outside party to create it, make sure they transfer copyright to you for the site.
8. Agency Controlling Trademarks ? Trademarks are controlled by the same agency that controls patents. The agency is the Patent and Trademark Agency. And you thought law was confusing.
9. Going Ecommerce? ? Most startups don't 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. Discovery in Lawsuits ? During a lawsuit, much of the time will be spent on discovery. Discovery is the process of learning information through depositions, document requests and so on.
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 don't have to worry about lawsuits.
