A Sampling Of Business Law Tips

Mention legal regulations to a businessperson and you will probably see their eyes glaze over. One can hardly blame them given the complexities of the subject. That being said, here are a few legal nuggets you should know.

1. Avoid Oral Contracts In most situations, oral promises to do things are unenforceable, so avoid them. When it comes to contracts, the only thing important is what is in writing.

2. Legality of NCA Many businesses ask their employees to sign non-compete agreements, also known as NCAs. Keep in mind they are illegal in some states!

3. Identity Theft Tip Never click a link to a site based on an email you randomly received even if the company is well known to you. Instead, go to a search engine and access the site that way.

4. Business and Friends When starting a business, there is a tendency to get friends involved. Generally, this is a bad idea. Different views can lead to the end of friendships.

5. Financing New Businesses Starting a business usually requires money. Many people make the mistake of first offering ownership interests in exchange for cash. Use this as a last resort.

6. Common Law Copyright When you create an artistic work such as a book or music, you automatically are granted copyright. If some infringes on your copyright, however, you must have registered it with the Copyright Office to get damages.

7. Copyright Library of Congress To copyright something, you need to file an application with the Copyright Office which is a department of the Library of Congress.

8. Corporate Tax Designations Once you have incorporated a business, you must determine the tax status of the business. If you do nothing, it is automatically taxed as a C-corporation. Alternatively, you can file for a S designation.

9. Going Ecommerce? Most startups don't think about going online before opening a brick and mortar office or shop. If you can get the hang of web design, it is much cheaper to start online.

10. Email Privacy Issues If you send messages by email, it is important to remember they are not private. Whether you have a business dispute or personal one, a court can order you to produce them.

The law is a vast and complex subject. A few tips are not going to get you by. If you find yourself in a complex situation, seek out the advice of a good attorney.