Hello, I'm Attorney Elizabeth Potts Weinstein. Today, I'm sharing six essential legal tips for starting your online business. 1. Choose the Right Legal Structure One of your first legal decisions is determining the legal and tax structure for your business. Options include a sole proprietorship, partnership, LLC, or corporation. Additionally, you'll need to decide on your tax classification, such as sole proprietorship, partnership, S Corp, or C Corp. My advice is to keep it simple initially. For most single-owner businesses, a sole proprietorship works well. If you have multiple owners, I recommend forming an LLC over a partnership due to liability concerns. 2. Protect Your Trademark and Branding Trademarks are crucial for your brand's identity. Conduct thorough searches on the United States Patent and Trademark Office (USPTO) database and Google before finalizing your brand name. Remember, owning a domain name doesn't grant trademark rights. If someone
Hello, I'm Attorney Elizabeth Potts Weinstein. Today, I'm sharing six essential legal tips for starting your online business. 1. Choose the Right Legal Structure One of your first legal decisions is determining the legal and tax structure for your business. Options include a sole proprietorship, partnership, LLC, or corporation. Additionally, you'll need to decide on your tax classification, such as sole proprietorship, partnership, S Corp, or C Corp. My advice is to keep it simple initially. For most single-owner businesses, a sole proprietorship works well. If you have multiple owners, I recommend forming an LLC over a partnership due to liability concerns. 2. Protect Your Trademark and Branding Trademarks are crucial for your brand's identity. Conduct thorough searches on the United States Patent and Trademark Office (USPTO) database and Google before finalizing your brand name. Remember, owning a domain name doesn't grant trademark rights. If someone
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