Legal Guide for Starting & Running a Small Business, 12th Edition

Table of Contents......Page 9
Your Legal Companion for Starting and Running a Small Business......Page 15
1. Which Legal Form Is Best for Your Business?......Page 17
Sole Proprietorships......Page 20
Partnerships......Page 23
Corporations......Page 26
Limited Liability Companies......Page 37
Choosing Between a Corporation and an LLC......Page 40
Special Structures for Special Situations......Page 42
2. Structuring a Partnership Agreement......Page 49
Why You Need a Written Agreement......Page 50
An Overview of Your Partnership Agreement......Page 51
Changes in Your Partnership......Page 60
3. Creating a Corporation......Page 63
The Structure of a Corporation......Page 64
Financing Your Corporation......Page 67
Compensating Yourself......Page 68
Overview of Incorporation Procedures......Page 69
Twelve Basic Steps to Incorporate......Page 71
Safe Business Practices for Your Corporation......Page 79
4. Creating a Limited Liability Company......Page 85
Number of Members Required......Page 86
Financing an LLC......Page 87
Compensating Members......Page 89
Choosing a Name......Page 90
Paperwork for Setting up an LLC......Page 91
After You Form Your LLC......Page 95
Safe Business Practices for Your LLC......Page 97
5. Preparing for Ownership Changes With a Buyout Agreement......Page 101
Major Benefits of Adopting a Buyout Agreement......Page 103
Where to Put Your Buyout Provisions......Page 107
When to Create a Buyout Agreement......Page 108
6. Naming Your Business and Products......Page 109
Business Names: An Overview......Page 112
Mandatory Name Procedures......Page 114
Strong and Weak Trademarks......Page 118
Before the Trademark: Name Searches......Page 119
How to Use and Protect Your Trademark......Page 121
7. Licenses and Permits......Page 123
Federal Registrations and Licenses......Page 125
State Requirements......Page 126
Regional Requirements......Page 128
Local Requirements......Page 129
How to Deal With Local Building and Zoning Officials......Page 131
8. Tax Basics for the Small Business......Page 133
Employer Identification Number......Page 134
Becoming an S Corporation......Page 138
Business Taxes in General......Page 139
Business Deductions......Page 145
Tax Audits......Page 151
9. Raising Money for Your Business......Page 155
Consider Writing a Business Plan......Page 156
Two Types of Outside Financing......Page 159
Thirteen Common Sources of Money......Page 165
Document All of the Money You Receive......Page 171
10. Buying a Business......Page 175
Finding a Business to Buy......Page 177
What’s the Structure of the Business You Want to Buy?......Page 178
Gathering Information About a Business......Page 182
Valuing the Business......Page 184
Other Items to Investigate......Page 186
Letter of Intent to Purchase......Page 189
The Sales Agreement......Page 191
The Closing......Page 199
Selling a Business......Page 200
11. Franchises: How Not to Get Burned......Page 205
What Is a Franchise?......Page 207
The Downsides of Franchise Ownership......Page 208
Investigating a Franchise......Page 212
The Franchise Disclosure Document......Page 213
The Franchise Agreement......Page 219
Resolving Disputes With Your Franchisor......Page 223
12. Insuring Your Business......Page 225
Working With an Insurance Agent......Page 226
Property Coverage......Page 228
Liability Insurance......Page 232
Other Insurance to Consider......Page 235
Saving Money on Insurance......Page 237
Making a Claim......Page 240
13. Negotiating a Favorable Lease......Page 241
Leases and Rental Agreements: An Overview......Page 243
Short-Term Leases (Month-to-Month Rentals)......Page 244
Written Long-Term Leases......Page 245
Shopping Center Leases......Page 258
How to Modify a Lease......Page 259
Landlord-Tenant Disputes......Page 260
When You Need Professional Help......Page 262
14. Home-Based Business......Page 265
Zoning Laws......Page 266
Private Land Use Restrictions......Page 271
Insurance......Page 272
Deducting Expenses for the Business Use of Your Home......Page 274
15. Employees and Independent Contractors......Page 279
Hiring Employees......Page 281
Job Advertisements......Page 285
Interviews......Page 286
Testing......Page 289
Background Checks......Page 290
Personnel Practices......Page 299
Illegal Discrimination......Page 300
Wages and Hours......Page 302
Occupational Safety and Health......Page 306
Termination of Employment......Page 307
Unemployment Compensation......Page 309
Independent Contractors......Page 310
16. The Importance of Excellent Customer Relations......Page 319
Developing Your Customer Satisfaction Policy......Page 321
Telling Customers About Your Policies......Page 323
17. Legal Requirements for Dealing With Customers......Page 325
Advertising......Page 326
Retail Pricing and Return Practices......Page 329
Warranties......Page 333
Consumer Protection Statutes......Page 338
Dealing With Customers Online......Page 339
18. Cash, Credit Cards, and Checks......Page 343
Credit and Debit Cards......Page 344
Checks......Page 346
19. Extending Credit and Getting Paid......Page 351
The Practical Side of Extending Credit......Page 352
Laws That Regulate Consumer Credit......Page 357
Becoming a Secured Creditor......Page 358
Collection Problems......Page 359
Collection Options......Page 363
20. Put It in Writing: Small Business Contracts......Page 365
What Makes a Valid Contract......Page 367
Misrepresentation, Duress, or Mistake......Page 369
Must a Contract Be in Writing?......Page 370
Writing Business-to-Business Contracts......Page 374
Signing Your Contracts......Page 377
Enforcing Contracts in Court......Page 380
What Can You Sue For?......Page 382
21. The Financially Troubled Business......Page 385
Thinking Ahead to Protect Your Personal Assets......Page 386
Managing the Financially Troubled Business......Page 389
Seeking an Objective Analysis......Page 392
Workouts......Page 394
Selling or Closing the Business......Page 397
Understanding Bankruptcy......Page 399
22. Resolving Legal Disputes......Page 409
Negotiating a Settlement......Page 410
Understanding Mediation......Page 411
Arbitration......Page 413
Going to Court......Page 415
23. Representing Yourself in Small Claims Court......Page 421
Deciding Whether to Represent Yourself......Page 422
Before You File Your Lawsuit......Page 424
Figuring Out Whom to Sue......Page 427
Handling Your Small Claims Court Lawsuit......Page 428
Representing Yourself If You’re the Defendant......Page 430
Collecting Your Judgment......Page 431
24. Lawyers and Legal Research......Page 433
How to Find the Right Lawyer......Page 434
Fees and Bills......Page 437
Problems With Your Lawyer......Page 438
Do-It-Yourself Legal Research......Page 439
Appendix. Checklist for Starting a Small Business......Page 443
Index......Page 449
Related Products......Page 463
Web Resources......Page 0