How To Avoid 3 Common Legal Mistakes Small Business Owners Make

Disclaimer: This video and accompanying content (blog, Youtube descriptions, etc. herein referred to as "Content") is for informational purposes only and should not be construed as legal advice of any kind. Jo-Ná Williams and J.A.Williams Law, P.C. assumes no liability for use or interpretation of any information contain in this Episode or this document. This Episode should not be an alternative to obtaining legal advice from a licensed attorney in your state based on the specific facts of your legal matter. Jo-Ná Williams is licensed to practice law in the State of New York only. 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! If you enjoyed this video, subscribe to our channel and sign up for your free weekly business and life advice at http://www.marieforleo.com. 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

Comments

1. So I am doing business with foreign manufacturing companies, what Tax form would I send out?
2. I really liked Ms Williams statement that most people end up paying to solve a problem instead of prevention and a legal shield will be built around your business by incorporating. Step that can be taken right now? Get a legal plan that offers a monthly price for legal services instead of being charged an hourly rate. Preventive law is affordable with a small business legal plan. We have an incorporation package for C, S or LLC to launch a small business. This is what our company does nationwide and in Canada. You can message me and I will email you some info.
3. Hi Marie, The message was very informative. Thanks so much Jo Na Williams.
4. make an independent contractor agreement :)
5. Good Stuff
6. This was so great and very helpful! Thanks Marie and thank you so much Jo'Na!
7. Finally, great tips without even a hint of spam. Love this! Thanks Marie!
8. Wow, fantastic suggestions! Thank you!
9. We are ready to be your offshore development company
10. Any tutorial to Lear how to fill E-500? Thanks
11. Your videos are really good and fill with great content. I'm already familiar in this area but for new business owners or employees wanting to become their own boss, this is definitely for them.
12. is jonA on you tube
13. ok
14. I love your video about passion and how to live a life doing what you love. It inspired me to make the Youtube channel I have now AND I also showed your page to a dear friend of mine who is actually opening up her own pharmacy. This video above really helped guide her. I guess she had some doubts regarding business decisions and this video really helped her out! Thanks for all you do!
15. This is great info.  Thanks for sharing:)
16. I hope this video goes out to people who are planning on starting their own companies. Talking to a CPA beforehand definitely helps to ensure that you are not committing any legal mistakes. 
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18. Very helpful and great tips.
19. Great tips! Getting a lawyer on retainer for your company could save you a lot of money as well as legal problems!
20. Great video! Another great resource for determining the type of entity that will be more useful for your business and your assets is checking out the Secretary of States office for the jurisdiction in which you will be conducting business. The Secretary of state offices strive to be a one-stop center. In NV, for instance, you can draft operating agreements and find tools on what licensing requirements you may have based on the nature of business and entity type. It also goes into detail in the liabilities and structures behind each entity type. I hope this is helpful!