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What Is the Best Legal Structure for My Small Business?

What Is the Best Legal Structure for My Small Business?

Selecting a legal structure is one of the most important decisions you will make when starting a new for-profit or nonprofit business. The choice that you make will have a lasting impact on major aspects of your business and your life. The legal structure you select when forming a business will have personal tax and liability implications, and will affect how much it costs to form and operate your business. As an attorney who regularly guides new business owners through this decision-making process, I know just how difficult and confusing it can be to weigh all of your options and...

So You Have an Idea for Starting a Nonprofit Business. Now What?

So You Have an Idea for Starting a Nonprofit Business. Now What?

So, You Have an Idea for Starting a Nonprofit Business. Now What? If your goal is to positively impact your community or, if you’re especially ambitious, the world, there are few better ways to do so than starting a nonprofit organization. A well-run nonprofit can efficiently turn ideas and funding into direct action. However, turning a brilliant, world-changing idea into a fully operational organization involves forethought and planning. Here are a few considerations you should keep in mind on your journey from brainstorming to launching a new nonprofit.  Occupy a Unique Space Particularly successful nonprofits carve out their own niche....

9 Essential Considerations when Starting a Business

9 Essential Considerations when Starting a Business

Congratulations on having a million-dollar idea! For some entrepreneurs, coming up with the concept for a new product or service is the most challenging part of starting a business. For others, it is all the complicated steps you have to take to get your business off of the ground.  Drawing on my experience as a small business attorney, I’ve put together a list of 9 things you need to consider when turning your brilliant business idea into a money-making machine. Consideration #1 —  What Does the Market Research Data Say? Your idea may seem like a winner, but will it...

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Why Do I Need Liability Insurance for My Small Business?

  After you’ve formed your small business, a critical next step is to determine the extent of your liabilities. As part of this process, you’ll want to perform a risk analysis to decide what types of small business insurance you need. While structuring your business as a LLC or corporation protects your personal assets from business-related lawsuits, the more assets your company uses, the greater its own liabilities will be. Insurance can help protect your business’ assets, making it a must-have for any new business owner. Drawing on my years of experience working with small business owners, I’ve put together...

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Types of Intellectual Property Protection for Small Businesses

As a small business owner, creating unique value in the marketplace is how you stand out from the pack and gain a competitive advantage. If you’ve done any sort of marketing, you know that the key to a successful marketing campaign is to differentiate your business’ products or services from what everyone else is offering. What you might not know is that thing that makes your business so special could be intellectual property that your business is legally allowed to protect. Whether it be your business name or logo, a product that you offer in your store, or the secret...

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