Legal Guide for Starting & Running a Small Business 18TH EDITION

Cover
Title Page
Table of Contents
Your Legal Companion for Starting and Running a Small Business
1. Which Legal Form Is Best for Your Business?
	Sole Proprietorships
	Partnerships
	Corporations
	Limited Liability Companies
	Choosing Between a Corporation and an LLC
	Special Structures for Special Situations
	The Benefit Corporation
2. Structuring a Partnership Agreement
	Why You Need a Written Agreement
	An Overview of Your Partnership Agreement
	Changes in Your Partnership
3. Creating a Corporation
	The Structure of a Corporation
	Financing Your Corporation
	Compensating Yourself
	Do You Need a Lawyer to Incorporate?
	Overview of Incorporation Procedures
	Eleven Basic Steps to Incorporate
	After You Incorporate
	Safe Business Practices for Your Corporation
4. Creating a Limited Liability Company
	Number of Members Required
	Management of an LLC
	Financing an LLC
	Compensating Members
	Choosing a Name
	Paperwork for Setting Up an LLC
	After You Form Your LLC
	Safe Business Practices for Your LLC
5. Preparing for Ownership Changes With a Buyout Agreement
	Major Benefits of Adopting a Buyout Agreement
	Where to Put Your Buyout Provisions
	When to Create a Buyout Agreement
6. Naming Your Business and Products
	Business Names: An Overview
	Mandatory Name Procedures
	Trademarks and Service Marks
	Strong and Weak Trademarks
	Before the Trademark: Name Searches
	How to Use and Protect Your Trademark
7. Licenses and Permits
	Federal Registrations and Licenses
	State Requirements
	Regional Requirements
	Local Requirements
	How to Deal With Local Building and Zoning Officials
8. Tax Basics for the Small Business
	Employer Identification Number
	Becoming an S Corporation
	Business Taxes in General
	Business Deductions
	Tax Audits
9. Raising Money for Your Business
	Consider Writing a Business Plan
	Two Types of Outside Financing
	Fourteen Common Sources of Money
	Document All of the Money You Receive
10. Buying a Business
	Finding a Business to Buy
	What’s the Structure of the Business You Want to Buy?
	Gathering Information About a Business
	Valuing the Business
	Other Items to Investigate
	Letter of Intent to Purchase
	The Sales Agreement
	The Closing
	Selling a Business
11. Franchises: How Not to Get Burned
	What Is a Franchise?
	The Downsides of Franchise Ownership
	Investigating a Franchise
	The Franchise Disclosure Document
	The Franchise Agreement
	Resolving Disputes With Your Franchisor
12. Insuring Your Business
	Working With an Insurance Agent
	Property Coverage
	Liability Insurance
	Other Insurance to Consider
	Saving Money on Insurance
	Making a Claim
13. Negotiating a Favorable Lease
	Finding a Place
	Leases and Rental Agreements: An Overview
	Short-Term Leases (Month‑to‑Month Rentals)
	Written Long-Term Leases
	Additional Clauses to Consider
	Shopping Center Leases
	How to Modify a Lease
	Landlord-Tenant Disputes
	Getting Out of a Lease
	When You Need Professional Help
14. Home-Based Business
	Zoning Laws
	Private Land Use Restrictions
	Insurance
	Deducting Expenses for the Business Use of Your Home
15. Employees and Independent Contractors
	Hiring Employees
	Job Descriptions
	Job Advertisements
	Job Applications
	Interviews
	Testing
	Background Checks
	Immigration Law Requirements
	Personnel Practices
	Illegal Discrimination
	Wages and Hours
	Occupational Safety and Health
	Workers’ Compensation
	Termination of Employment
	Unemployment Compensation
	Independent Contractors
	Employers’ Health Care Insurance Requirements Under Obamacare
16. The Importance of Excellent Customer Relations
	Developing Your Customer-Satisfaction Policy
	Telling Customers About Your Policies
17. Legal Requirements for Dealing With Customers
	Advertising
	Retail Pricing and Return Practices
	Warranties
	Consumer Protection Statutes
	Dealing With Customers Online
18. Cash, P2P Payments, Credit Cards, Checks, and Cryptocurrency
	Cash
	P2P Payments
	Credit and Debit Cards
	Checks
	Cryptocurrency
19. Extending Credit and Getting Paid
	The Practical Side of Extending Credit
	Laws That Regulate Consumer Credit
	Becoming a Secured Creditor
	Collection Problems
	Collection Options
20. Put It in Writing: Small Business Contracts
	What Makes a Valid Contract
	Unfair or Illegal Contracts
	Misrepresentation, Duress, or Mistake
	Must a Contract Be in Writing?
	Writing Business‑to‑Business Contracts
	Signing Your Contracts
	Electronic Business-to-Business Contracts
	Electronic Contracts for Online Sales
	Enforcing Contracts in Court
	What Can You Sue For?
21. The Financially Troubled Business
	Thinking Ahead to Protect Your Personal Assets
	Managing the Financially Troubled Business
	Seeking an Objective Analysis
	Workouts
	Selling the Business
	Closing the Business
	Understanding Bankruptcy
Appendix: Checklist for Starting a Small Business
Index