Legal guide for starting & running a small business

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Title:

Legal guide for starting & running a small business

Author:

Steingold, Fred S., 1936-2017 author.

ISBN:

9781413328608

Edition:

Seventeenth edition.

Physical Description:

402 pages ; 28 cm.

Series:

Nolo Press self-help law books.

General Note:

Includes index.

Subject Term:

Small business -- Law and legislation.

Business enterprises -- Law and legislation.

Genre:

Law for laypersons

Added Author:

Steingold, David M.,

Added Corporate Author:

Nolo (Firm)

Summary:

The Legal Guide for Starting & Running a Small Business has helped more than a quarter million entrepreneurs and business owners master the basics, including how to: raise start-up money, decide between an LLC or other business structure, save on business taxes, get licenses and permits, choose the right insurance, negotiate contracts and leases, avoid problems if you're buying a franchise, hire and manage employees and independent contractors, attract and keep customers (and get paid on time), and limit your liability and protect your personal assets.

Holds:

Available:*

Library	Call Number	Status
Searching... R.H. Stafford Library (Woodbury)	346.730652 STE 2021	Searching... Unknown

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Summary

The all-in-one business law book

Whether you're just starting a small business, or your business is already up and running, legal questions crop up on an almost daily basis. Ignoring them can threaten your enterprise--but hiring a lawyer to help with routine issues can devastate the bottom line

The Legal Guide for Starting & Running a Small Business has helped more than a quarter million entrepreneurs and business owners master the basics, including how to:

raise start-up money decide between an LLC or other business structure save on business taxes get licenses and permits choose the right insurance negotiate contracts and leases avoid problems if you're buying a franchise hire and manage employees and independent contractors attract and keep customers (and get paid on time), and limit your liability and protect your personal assets.

This new edition explains how to do all of these things, taking into account coronavirus implications. Whether you're a sole proprietor or an LLC or corporation, a one-person business operating out of your home, or a company with a large staff leasing space, this book will help you start and run a successful business.

The 17th edition is completely updated with the latest business tax rules and best practices for running a home-based business.

Author Notes

Fred S. Steingold was the author of several Nolo business books, including The Employer's Legal Handbook and The Complete Guide to Buying a Business. David M. Steingold practices law in Ann Arbor, Michigan. His main practice areas are business law, real estate law, and estate planning and probate law. He is also the author of Nolo's Guide to Single-Member LLCs.

Your Legal Companion for Starting and Running a Small Business	p. 1
1 Which Legal Form Is Best for Your Business?	p. 3
Sole Proprietorships	p. 6
Partnerships	p. 9
Corporations	p. 12
Limited Liability Companies	p. 22
Choosing Between a Corporation and an LLC	p. 25
Special Structures for Special Situations	p. 27
The Benefit Corporation	p. 31
2 Structuring a Partnership Agreement	p. 35
Why You Need a Written Agreement	p. 36
An Overview of Your Partnership Agreement	p. 37
Changes in Your Partnership	p. 46
3 Creating a Corporation	p. 47
The Structure of a Corporation	p. 50
Financing Your Corporation	p. 52
Compensating Yourself	p. 53
Do You Need a Lawyer to Incorporate?	p. 54
Overview of Incorporation Procedures	p. 55
Eleven Basic Steps to Incorporate	p. 56
After You Incorporate	p. 63
Safe Business Practices for Your Corporation	p. 63
4 Creating a Limited Liability Company	p. 69
Number of Members Required	p. 70
Management of an LLC	p. 71
Financing an LLC	p. 71
Compensating Members	p. 73
Choosing a Name	p. 74
Paperwork for Setting Up an LLC	p. 75
After You Form Your LLC	p. 78
Safe Business Practices for Your LLC	p. 80
5 Preparing for Ownership Changes With a Buyout Agreement	p. 85
Major Benefits of Adopting a Buyout Agreement	p. 87
Where to Put Your Buyout Provisions	p. 90
When to Create a Buyout Agreement	p. 92
6 Naming Your Business and Products	p. 93
Business Names: An Overview	p. 95
Mandatory Name Procedures	p. 96
Trademarks and Service Marks	p. 100
Strong and Weak Trademarks	p. 101
Before the Trademark: Name Searches	p. 102
How to Use and Protect Your Trademark	p. 104
7 Licenses and Permits	p. 105
Federal Registrations and Licenses	p. 107
State Requirements	p. 108
Regional Requirements	p. 110
Local Requirements	p. 110
How to Deal With Local Building and Zoning Officials	p. 112
8 Tax Basics for the Small Business	p. 115
Employer Identification Number	p. 116
Becoming an S Corporation	p. 119
Business Taxes in General	p. 120
Business Deductions	p. 125
Tax Audits	p. 131
9 Raising Money for Your Business	p. 135
Consider Writing a Business Plan	p. 136
Two Types of Outside Financing	p. 139
Thirteen Common Sources of Money	p. 144
Document All of the Money You Receive	p. 150
10 Buying a Business	p. 155
Finding a Business to Buy	p. 157
What's the Structure of the Business You Want to Buy?	p. 158
Gathering Information About a Business	p. 162
Valuing the Business	p. 163
Other Items to Investigate	p. 165
Letter of Intent to Purchase	p. 168
The Sales Agreement	p. 170
The Closing	p. 178
Selling a Business	p. 178
11 Franchises: How Not to Get Burned	p. 183
What Is a Franchise?	p. 185
The Downsides of Franchise Ownership	p. 186
Investigating a Franchise	p. 189
The Franchise Disclosure Document	p. 190
The Franchise Agreement	p. 196
Resolving Disputes With Your Franchisor	p. 200
12 Insuring Your Business	p. 201
Working With an Insurance Agent	p. 202
Property Coverage	p. 204
Liability Insurance	p. 208
Other Insurance to Consider	p. 211
Saving Money on Insurance	p. 213
Making a Claim	p. 215
13 Negotiating a Favorable Lease	p. 217
Findinga Place	p. 219
Leases and Rental Agreements: An Overview	p. 220
Short-Term Leases (Month-to-Month Rentals)	p. 221
Written Long-Term Leases	p. 221
Additional Clauses to Consider	p. 233
Shopping Center Leases	p. 234
How to Modify a Lease	p. 235
Landlord-Tenant Disputes	p. 236
Getting Out of a Lease	p. 237
When You Need Professional Help	p. 238
14 Home-Based Business	p. 239
Zoning Laws	p. 240
Private Land Use Restrictions	p. 245
Insurance	p. 246
Deducting Expenses for the Business Use of Your Home	p. 247
15 Employees and Independent Contractors	p. 253
Hiring Employees	p. 255
Job Descriptions	p. 258
Job Advertisements	p. 259
Job Applications	p. 259
Interviews	p. 260
Testing	p. 260
Background Checks	p. 264
Immigration Law Requirements	p. 266
Personnel Practices	p. 266
Illegal Discrimination	p. 267
Wages and Hours	p. 269
Occupational Safety and Health	p. 273
Workers' Compensation	p. 274
Termination of Employment	p. 275
Unemployment Compensation	p. 276
Independent Contractors	p. 277
Employers' Health Care Insurance Requirements Under Obamacare	p. 285
16 The Importance of Excellent Customer Relations	p. 287
Developing Your Customer-Satisfaction Policy	p. 289
Telling Customers About Your Policies	p. 291
17 Legal Requirements for Dealing With Customers	p. 293
Advertising	p. 294
Retail Pricing and Return Practices	p. 297
Warranties	p. 300
Consumer Protection Statutes	p. 306
Dealing With Customers Online	p. 306
18 Cash, Credit Cards, and Checks	p. 309
Cash	p. 310
Credit and Debit Cards	p. 310
Checks	p. 312
19 Extending Credit and Getting Paid	p. 317
The Practical Side of Extending Credit	p. 318
Laws That Regulate Consumer Credit	p. 324
Becoming a Secured Creditor	p. 325
Collection Problems	p. 326
Collection Options	p. 329
20 Put It in Writing: Small Business Contracts	p. 331
What Makes a Valid Contract	p. 333
Unfair or Illegal Contracts	p. 335
Misrepresentation, Duress, or Mistake	p. 335
Must a Contract Be in Writing?	p. 336
Writing Business-to-8usiness Contracts	p. 339
Signing Your Contracts	p. 342
Electronic Contracting	p. 345
Enforcing Contracts in Court	p. 346
What Can You Sue For?	p. 347
21 The Financially Troubled Business	p. 351
Thinking Ahead to Protect Your Personal Assets	p. 352
Managing the Financially Troubled Business	p. 355
Seeking an Objective Analysis	p. 358
Workouts	p. 360
Selling the Business	p. 362
Closing the Business	p. 363
Understanding Bankruptcy	p. 364
Appendix Checklist for Starting a Small Business	p. 373
Index	p. 379

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