Episode 50: Not Controlling Your Legal Means Someone Else Is

Everything that happens in your business is impacted by legal. It can be complicated. But, it doesn’t have to happen all at once.

If you want to protect your business, you must take control of your legal. Otherwise, someone else will be in control. If you take the time to understand and implement legal strategies and protections, you will be one step further to building a business that is sustainable and won’t crumble at the first sign of trouble. You will have a business built on a firm foundation.

In this episode, we discuss what happens when you don’t take control of your legal. Legal matters in your business. You can either control it’s impact or see what happens. Entrepreneurs may be risk takers, but they are not gamblers. Understanding how legal impacts your business relationships is essential to developing a business with a firm foundation.

In this 17 minute episode, we discuss:

How not making legal decisions in your business is making legal decisions
How not choosing an entity before you start is
How not putting your contractual relationships in writing is making a choice to rely on what the law says about your relationship
Some of the legal issues you may want to consider with your legal relationships
How not taking control of your legal can cost you your business

Referenced and Useful Content:

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Legal to English Academy

Listen to Legal to English with Josh Andrews below:

Legal to English Dictionary: Limited Partnership

Legal A partnership composed of one or more persons who control the business and are personally liable for the partnership’s debts (general partners), and one or more persons who contribute capital and share profits but who cannot manage the business and are liable only for the amount of their contributions (called limited partners). English A limited partnership is one step past […]

Getting Started with Intellectual Property

Hello, How has your week been? Can you believe summer is coming to a close? It is strange to see all of the back to school commercials and advertisements. I have even seen Christmas decorations in some stores! Last month, we focused a lot on contracts and how to draft them. Contracts are integral to […]

Starting Your Business – Choosing An Entity

Last week, we talked about starting your business out on the right foot. Today, let’s continue that conversation and talk about choosing the entity for your business. The beginning of protecting your business is to make sure you have chosen an entity with some form of liability protection. With that you are looking for an […]

Is an LLC Right For Your Startup?

If you are starting a business and you don’t have a specific reason to form a corporation, you should opt for an LLC. Yep. It’s that simple. The LLC is so flexible and there are so many options down the road that, unless you are absolutely certain you need the double taxation of the C-Corporation, […]

Drafting Payment Terms in Your Contract

Payment Terms in a contract are important to the cash flow of your business. They are important to the ebbs and flows of money and how you keep the doors open. Payment terms are what you point to when your client doesn’t pay or they are late or, worse, you have to go to court […]

Referenced and Useful Content:

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Listen to Legal to English with Josh Andrews below:

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