Legal Guide for Starting & Running a Small Business

by Attorney Fred S. Steingold

Pages: 480

eBook: (PDF 1.9 MB)

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Summary

From opening day to tax day, this is the all-in-one book you need!

Small business owners are regularly confronted by a bewildering array of legal questions and problems. Ignoring them can lead to disaster -- but with lawyers typically charging $200-$300 an hour, calling one to answer routine legal questions can be a fast track to the poorhouse.

Fortunately, you have a better alternative. Legal Guide for Starting & Running a Small Business clearly explains the practical and legal information you need to:

raise start-up money
choose between a sole proprietorship, partnership or LLC
get licenses and permits
buy or sell a business or franchise
negotiate a favorable lease
insure your business
hire independent contractors safely
understand small business tax rules
pick and protect a good name
resolve legal disputes
adopt the best customer policies
enter into strong contracts
cope with financial problems

The 9th edition is completely updated and revised to provide the latest regulations, tax numbers and business realities. It also provides a start-up checklist, an expanded discussion about choosing a business structure, updates to bankruptcy law -- and much more.

Press Reviews

"Get a basic understanding of small business legal issues... [with] this excellent resource...."
The Wall Street Journal

"This book is ideal for novice and even seasoned entrepreneurs. It will navigate you through the many legal concepts and procedures that affect small businesses. "
Newark Star-Ledger

"A nuts and bolts legal guidebook that answers questions that continually come up in running a small business in today’s competitive environment. Written in plain English."
Business Life Magazine

"Most entrepreneurs can’t afford to call their lawyer every time a legal question comes up. The Legal Guide for Starting & Running a Small Business is a cost-effective solution."
Success Magazine

"Key checklists will help small-business owners stay on top of tasks and keep track of their progress."
Andrea Nierenberg,
author of Million Dollar Networking

"You won’t find better up-to-date professional counseling [than this] easy to use and understand reference."
San Francisco Examiner

"The comprehensive Legal Guide for Starting & Running a Small Business... explains just about everything you (or your entrepreneurial clients) need to know about getting your new venture underway."
Accounting Today

"Anybody in business might want a book like The Legal Guide for Starting & Running a Small Business on their shelf."
The Herald Tribune

"One of the top six business books."
Inc. Magazine

"One of seven small business books recommended by the Seattle Public Library."
Seattle Times

I. Introduction

A. Is This Book for You?
B. How This Book Will Help
C. Nonlegal Matters to Attend To

1. Which Legal Form Is Best for Your Business?

A. Sole Proprietorships
B. Partnerships
C. Corporations
D. Limited Liability Companies
E. Choosing Between a Corporation and an LLC
F. Special Structures for Special Situations

2. Structuring a Partnership Agreement

A. Why You Need a Written Agreement
B. An Overview of Your Partnership Agreement
C. Changes in Your Partnership

3. Creating a Corporation

A. The Structure of a Corporation
B. Financing Your Corporation
C. Compensating Yourself
D. Do You Need a Lawyer to Incorporate?
E. Overview of Incorporation Procedures
F. Twelve Basic Steps to Incorporate
G. After You Incorporate
H. Safe Business Practices for Your Corporation

4. Creating a Limited Liability Company

A. Number of Members Required
B. Management of an LLC
C. Financing an LLC
D. Compensating Members
E. Choosing a Name
F. Paperwork for Setting Up an LLC
G. After You Form Your LLC
H. Safe Business Practices for Your LLC

5. Preparing for Ownership Changes With a Buyout Agreement

A. Major Benefits of Adopting a Buyout Agreement
B. Where to Put Your Buyout Provisions
C. When to Create a Buyout Agreement

6. Naming Your Business and Products

A. Business Names: An Overview
B. Mandatory Name Procedures
C. Trademarks and Service Marks
D. Strong and Weak Trademarks
E. How to Protect Your Trademark
F. Name Searches

7. Licenses and Permits

A. Federal Registrations and Licenses
B. State Requirements
C. Regional Requirements
D. Local Requirements
E. How to Deal With Local Building and Zoning Officials

8. Tax Basics for the Small Business

A. Employer Identification Number
B. Becoming an S Corporation
C. Business Taxes in General
D. Business Deductions
E. Tax Audits

9. Raising Money for Your Business

A. Two Types of Outside Financing
B. Thirteen Common Sources of Money
C. Document All Money You Receive

10. Buying a Business

A. Finding a Business to Buy
B. What's the Structure of the Business You Want to Buy?
C. Gathering Information About a Business
D. Valuing the Business
E. Other Items to Investigate
F. Letter of Intent to Purchase
G. The Sales Agreement
H. The Closing
I. Selling a Business

11. Franchises: How Not to Get Burned

A. What Is a Franchise?
B. The Downsides of Franchise Ownership
C. Investigating a Franchise
D. The Uniform Franchise Offering Circular
E. The Franchise Agreement
F. Resolving Disputes With Your Franchisor

12. Insuring Your Business

A. Working With an Insurance Agent
B. Property Coverage
C. Liability Insurance
D. Other Insurance to Consider
E. Saving Money on Insurance
F. Making a Claim

13. Negotiating a Favorable Lease

A. Finding a Place 233 B. Leases and Rental Agreements: An Overview
C. Short-Term Leases (Month-to-Month Rentals)
D. Written Long-Term Leases
E. Additional Clauses to Consider
F. Shopping Center Leases
G. How to Modify a Lease
H. Landlord-Tenant Disputes
I. Getting Out of a Lease
J. When You Need Professional Help

14. Home-Based Business

A. Zoning Laws
B. Private Land Use Restrictions
C. Insurance
D. Deducting Expenses for Business Use of Your Home

15. Employees and Independent Contractors

A. Hiring Employees
B. Job Descriptions
C. Job Advertisements
D. Job Applications
E. Interviews
F. Testing
G. Investigating Job Application Information
H. Immigration Law Requirements
I. Personnel Practices
J. Illegal Discrimination
K. Wages and Hours
L. Occupational Safety and Health
M. Workers' Compensation
N. Termination of Employment
O. Unemployment Compensation
P. Independent Contractors

16. The Importance of Excellent Customer Relations

A. Developing Your Customer Satisfaction Policy
B. Telling Customers About Your Policies

17. Legal Requirements for Dealing With Customers

A. Advertising
B. Retail Pricing and Return Practices
C. Warranties
D. Consumer Protection Statutes
E. Dealing With Customers Online

18. Cash, Credit Cards, and Checks

A. Cash
B. Credit Cards
C. Checks

19. Extending Credit and Getting Paid

A. The Practical Side of Extending Credit
B. Laws That Regulate Consumer Credit
C. Becoming a Secured Creditor
D. Collection Problems
E. Collection Options

20. Put It in Writing: Small Business Contracts

A. What Makes a Valid Contract
B. Unfair or Illegal Contracts
C. Misrepresentation, Duress, or Mistake
D. Must a Contract Be in Writing?
E. Writing Business-to-Business Contracts
F. The Formalities of Getting a Contract Signed
G. Enforcing Contracts in Court
H. What Can You Sue For?

21. The Financially Troubled Business

A. Thinking Ahead to Protect Your Personal Assets
B. Managing the Financially Troubled Business
C. Seeking an Objective Analysis
D. Workouts
E. Selling or Closing the Business
F. Understanding Bankruptcy

22. Resolving Legal Disputes

A. Negotiating a Settlement
B. Understanding Mediation
C. Arbitration
D. Going to Court

23. Representing Yourself in Small Claims Court

A. Deciding Whether to Represent Yourself
B. Learning the Rules
C. Meeting the Jurisdictional Limits
D. Before You File Your Lawsuit
E. Figuring Out Whom to Sue
F. Handling Your Small Claims Court Lawsuit
G. Representing Yourself If You're the Defendant
H. Appealing Small Claims Decisions
I. Collecting Your Judgment

24. Lawyers and Legal Research