Listen to the Intro:
- m4a Lesson Audio
Now, limiting the liability of the owner and promoters is one thing. Once you have actually chosen to limit the liability of the owners by forming an entity, you need to consider how to best limit the liability of the business. This module is focused on how to protect the your company internally.
Internal protection is protection of the business from those who work in the business. This can be employees, independent contractors, and any other service provider whose services or products are invaluable to the operation of the business. These documents are what keep the business moving forward. Protecting your business internally is an important part of your legal protection, but those who work in the business are often the ones who are the most loyal. That means, practically, those legal documents can be the last in the sequence of protection. There are many natural protections that exist internally. That does not make it any less important, but it does help make prioritization of your legal needs a bit easier.
Those who work in the business are often the ones who are the most loyal. That means, those legal documents are often ignored or postponed. There are many natural protections that exist internally. That does not make it any less important, but it does help make prioritization of your legal needs a bit easier.
Looking at your internal protections is essential to making sure you have covered everything you need to have a firm foundation for your business. In many cases, it is helpful to consider internal protections as protections of the relationship that involves you paying someone for products or services. These are the relationships without which your business might fail.
In this module, we will cover important internal items in your business. Such as:
- Lesson 1: Internal Relationships to Consider
- Lesson 2: Be Careful the Authority You Give Your Managers
- Lesson 3: Understanding and Using Independent Contractors
- Lesson 4: Understanding and Working with Employees
- Lesson 5: Internal Policies