A Basic Guide to Legal Issues

A Basic Guide To Legal Issues


Laws and lawyers are often viewed as obstacles to an entrepreneur's vision. Certainly, zoning laws, city ordinances, federal regulations, tax codes, etc., are obstacles to beginning or continuing a business. However, these are fixed obstacles that a good lawyer will help the entrepreneur face. Failure to deal early and effectively with legal issues in your business will undoubtedly have bad long-term consequences. Not only can failure to comply with certain regulations be expensive, they can land you in jail.


The following lessons address several important aspects of entrepreneurism and the law. We will examine the relationship that one should have with his or her attorney, as well as delve into specific legal topics that we identify as crucial to the long- term health of your company.


It is important to understand that lawyers are not trained to make business decisions, but rather to inform the businessperson of the path that is legally the most beneficial. At some point in time, the entrepreneur will have to make a choice between the most legally prudent path and the one that makes the most business sense, because, oftentimes, they aren't pointing in the same direction.


Read on and discover—


The differences between LLC's, Partnerships, Sole Proprietorships, and S Corporations



How to value a business you want to buy



What kinds of legal mediation exist to help you avoid expensive court fees



How to protect yourself from embezzlement



Copyright basics



How to avoid IRS trouble