C’mon over to http://www.marieforleo.com/2014/05/small-business-legal-help/ where the main discussion happens after the episode!
Legal help can be confusing if you run a small business, but in this video you’ll learn about three common legal mistakes small business owners make — and how to avoid them.
1. Business Structure. Should your business be an LLC or S Corp? Get legal help from a lawyer about what option is best for your business, since they can help you figure out what will be best for your taxes as well. Many people think that a lawyer is going to cost a lot of money, but most people would rather pay for solving a problem than preventing one.
2. Protect Yourself And Your Offerings. It’s very important your terms are outlined in something written. Make sure that your contracts have protection for your IP, disclosure of your programs and content, clear terms as to refunds and how to terminate the contract.
It’s also important to make sure your contracts have disclaimers in them. It’s important to have what you are in the contract but even more importantly what you’re NOT. Legal help from an attorney will show you exactly what your contracts and terms should include.
3. Your Business Relationships. An independent contractor’s agreement serves as additional proof that you have this arrangement with the people working for you. In this type of agreement, you should outline their duties, how they are being paid and when.
A non-disclosure clause protects your confidential information, and explains the fact that they’re an independent contractor and not an employee.
And a final bonus tip: If you are in the U.S. and you pay an independent contractor over $600, you’re going to have to issue them a 1099. Make sure you have their W-9 form when they come on-board so you don’t have to try and get it from them later!
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And if you’re interested in more videos on next level business growth like this one, check out our YouTube playlist on that exact topic here: https://www.youtube.com/playlist?list=PLD87A632CFD5449B5.
Thanks for watching!
My YouTube channel: http://www.youtube.com/marieforleo
Legal Help on my website: http://www.marieforleo.com/2014/05/small-business-legal-help/
Legal Help on YouTube: http://youtu.be/zahVagoP3SU