Are you legal?

You are starting or have started a business. You have thought of a name, have a location, assembled equipment and everything else you need. A big question to answer is – Have you attended to ALL of the legal aspects of your business?

A lot of businesses literally fly by the seat of their pants with little if any thought as to whether they are doing business legally.

Most will give thought to whether they should file a Business Certificate – aka DBA (Doing Business As) or maybe incorporate or form an LLC (Limited Liability Company). Most don’t really know the difference or the pro’s and con’s of what form of organization to use.

Some will go into business with a partner but unlike a lot of marriages these days which start with a pre-nuptual agreement they do so without a partnership agreement. So there is no official legal document that spells out even the basic issues like ownership, profit splits, individual contributions and responsibilities or even how to break up if and when the time comes.

These are just a couple of examples of legal areas that are often neglected and there are more.

Maybe you have given some thought to these and other issues but don’t know how to move forward. The best bet is to sit down with your business attorney – not the one who counseled you on your pre-nup – but a real business oriented lawyer and get expert guidance and counsel.

Not sure what to consider or ask about?

Consider going to the next presentation of the First Wednesday small business seminar series at the Central Library in downtown Rochester on November 2.

You will learn about key legal issues that need to be addressed when starting a small business. Topics discussed will include choice of business entity, tax considerations, intellectual property, contracts and more. The program is appropriate for both first-time entrepreneurs and those who have recently started a small business – and it is FREE!

Here’s the short link for the legal seminar: http://bit.ly/smallbizlegal

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If you would like to be on our e-mail list and get notification of seminars, workshops and other small business related info, here is the link to opt in http://bit.ly/SBDCemail

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Remember – Ignorance of the law is not an excuse and can create serious problems for you.