Legal Guide for Starting and Running a Small Business

by Steingold, Fred S.

• ISBN13: 9780873376426
• ISBN10: 0873376420
• Edition: 6th
• Format: Paperback
• Copyright: 2001-02-01
• Publisher: NOLO PRESS

Summary

Business owners are regularly confronted by legal questions and problems. But with lawyers typically charging $250 an hour, calling one can be a fast track to the poorhouse.

Fortunately, Legal Guide for Starting & Running a Small Business clearly explains how to:
-- raise start-up money
-- get licenses and permits
-- buy or sell a business
-- negotiate a favorable lease
-- hire freelancers and employees
-- understand business tax rules
-- pick and protect a name
-- resolve legal disputes
-- and much more

Table of Contents

Introduction
Which Legal Form Is Best For Your Business?
Sole Proprietorships	4	(3)
Partnerships	7	(3)
Corporations	10	(11)
Limited Liability Companies	21	(2)
Choosing Between a Corporation and an LLC	23	(3)
Special Structures for Special Situations	26
Structuring a Partnership Agreement
Why You Need a Written Agreement	2	(1)
An Overview of Your Partnership Agreement	3	(10)
Changes in Your Partnership	13
Creating a Corporation
The Structure of a Corporation	2	(3)
Financing Your Corporation	5	(1)
Compensating Yourself	6	(1)
Do You Need a Lawyer to Incorporate?	7	(1)
Overview of Incorporation Procedures	8	(1)
12 Basic Steps to Incorporate	8	(9)
After You Incorporate	17	(1)
Safe Business Practices for Your Corporation	17
Creating a Limited Liability Company
Number of Members Required	2	(1)
Management of an LLC	3	(1)
Financing an LLC	3	(2)
Compensating Members	5	(1)
Choosing a Name	6	(1)
Paperwork for Setting Up an LLC	7	(4)
After You Form Your LLC	11	(2)
Safe Business Practices for Your LLC	13
Developing a Buy-Sell Agreement
Major Benefits of Adopting a Buy-Sell Agreement	3	(4)
Where to Put Your Buy-Sell Provisions	7	(1)
When to Create a Buy-Sell Agreement	8
Naming Your Business and Products
Business Names: An Overview	4	(3)
Mandatory Name Procedures	7	(3)
Trademarks and Service Marks	10	(1)
Strong and Weak Trademarks	11	(1)
How to Protect Your Trademark	12	(1)
Name Searches	13
Licenses and Permits
Federal Registrations and Licenses	3	(1)
State Requirements	4	(2)
Regional Requirements	6	(1)
Local Requirements	7	(2)
How to Deal With Local Building and Zoning Officials	9
Tax Basics for the Small Business
Employer Identification Number	2	(4)
Becoming an S Corporation	6	(1)
Business Taxes in General	7	(7)
Business Deductions	14	(5)
Tax Audits	19
Raising Money for Your Business
Two Types of Outside Financing	3	(5)
Thirteen Common Sources of Money	8	(7)
Document All Money You Receive	15
Buying a Business
Finding a Business to Buy	2	(1)
What's the Structure of the Business You Want to Buy?	3	(4)
Gathering Information About a Business	7	(1)
Valuing the Business	8	(3)
Other Items to Investigate	11	(2)
Letter of Intent to Purchase	13	(2)
The Sales Agreement	15	(9)
The Closing	24	(1)
Selling a Business	24
Franchises: How Not to Get Burned
An Overview of Franchises	2	(2)
What Is a Franchise?	4	(1)
Investigating a Franchise	5	(1)
The Uniform Franchise Offering Circular	6	(6)
The Franchise Agreement	12	(3)
Solving Problems With a Franchisor	15
Insuring Your Business
Working With an Insurance Agent	2	(2)
Property Coverage	4	(4)
Liability Insurance	8	(4)
Other Insurance to Consider	12	(2)
Saving Money on Insurance	14	(3)
Making a Claim	17
Negotiating a Favorable Lease
Finding a Place	2	(1)
Leases and Rental Agreements: An Overview	2	(1)
Short-Term Leases (Month-to-Month Rentals)	3	(1)
Written Long-Term Leases	4	(12)
Additional Clauses to Consider	16	(1)
Shopping Center Leases	17	(1)
How to Modify a Lease	18	(1)
Landlord-Tenant Disputes	18	(2)
Getting Out of a Lease	20	(1)
When You Need Professional Help	21
Home-Based Business
Zoning Laws	2	(5)
Private Land Use Restrictions	7	(1)
Insurance	8	(2)
Deducting Expenses for Business Use of Your Home	10
Employees and Independent Contractors
Hiring Employees	2	(3)
Job Descriptions	5	(1)
Job Advertisements	6	(1)
Job Applications	6	(3)
Interviews	9	(1)
Testing	9	(5)
Investigating Job Application Information	14	(2)
Immigration Law Requirements	16	(1)
Personnel Practices	16	(1)
Illegal Discrimination	17	(3)
Wages and Hours	20	(3)
Occupational Safety and Health	23	(1)
Workers' Compensation	24	(1)
Termination	24	(2)
Unemployment Compensation	26	(2)
Independent Contractors	28
The Importance of Excellent Customer Relations
Developing Your Customer Satisfaction Policy	3	(2)
Telling Customers About Your Policies	5
Legal Requirements for Dealing With Customers
Advertising	2	(3)
Retail Pricing and Return Practices	5	(4)
Warranties	9	(6)
Consumer Protection Statutes	15
Cash, Checks and Credit Cards
Cash	2	(1)
Credit Cards	2	(1)
Checks	3
Extending Credit and Getting Paid
The Practical Side of Extending Credit	2	(6)
Laws That Regulate Consumer Credit	8	(1)
Becoming a Secured Creditor	9	(1)
Collection Problems	10	(4)
Collection Options	14
Put It in Writing: Small Business Contracts
What Makes a Valid Contract	2	(2)
Unfair or Illegal Contracts	4	(1)
Misrepresentation, Duress or Mistake	5	(1)
Must a Contract Be in Writing?	6	(3)
Writing Business-to-Business Contracts	9	(4)
The Formalities of Getting a Contract Signed	13	(4)
Enforcing Contracts in Court	17	(1)
What Can You Sue For?	18
The Financially Troubled Business
Thinking Ahead to Protect Your Personal Assets	2	(3)
Managing the Financially Troubled Business	5	(3)
Seeking an Objective Analysis	8	(2)
Workouts	10	(3)
Selling or Closing the Business	13	(2)
Understanding Bankruptcy	15
Resolving Legal Disputes
Negotiating a Settlement	2	(1)
Understanding Mediation	3	(2)
Arbitration	5	(3)
Going to Court	8
Representing Yourself in Small Claims Court
Deciding Whether to Represent Yourself	2	(2)
Learning the Rules	4	(1)
Meeting the Jurisdictional Limits	4	(2)
Before You File Your Lawsuit	6	(2)
Figuring Out Whom to Sue	8	(1)
Handling Your Small Claims Court Lawsuit	8	(3)
Representing Yourself If You're the Defendant	11	(1)
Appealing Small Claims Decisions	11	(1)
Collecting Your Judgment	12
Lawyers and Legal Research
How to Find the Right Lawyer	3	(2)
Fees and Bills	5	(1)
Problems With Your Lawyer	6	(1)
Do-It-Yourself Legal Research	7
Appendix A
Appendix B
Index