Starting A Startup
In the previous post we covered the first four critical startup stepsand in this post we will cover the remaining four covering the laws and regulations you need to consider when starting a startup company.
File for trademark protection
You should also take steps to protect your company name by filing for a trademark. After all, you most likely spent untold hours deliberating what to call yourself.
Educate yourself on employee laws
Do you have a staff or future plans to bring employees on board? Too many small businesses think employer laws and regulations apply only to larger companies; however, your legal obligations as an employer begin as soon as you hire that first employee.
In this case, I advise spending time with an employment law professional to fully understand your obligations in such areas as federal and state payroll and withholding taxes, self-employment taxes, anti-discrimination laws, OSHA regulations, unemployment insurance, workers’ compensation rules, wage and hour requirements, among others.
Obtain business licenses and permits
Depending on the type of business, you may be required to have one or more business licenses and/or permits from the state, local (city and county) or even federal level. These can include: a general business operation license, zoning and land use permits, sales tax license, health department permits, and occupational or professional licenses.
Your specific insurance needs will vary depending on your type of business and risk tolerance. Consulting with an insurance agent who understands your industry is typically the best way to proceed in this area.
And yes, I know… when you’re hustling for clients or putting in 80-hour weeks to get product out the door, legal fine print and paperwork aren’t exactly high on your priority list.
But getting your legal ducks in a row from the start will enable you to scale far more smoothly and help you avoid any legal pitfalls in years to come. Remember, you can’t be an expert in every area when starting a startup, but just be wise about when you need to bring in expert counsel and when Do-It-Yourself is a reasonable way to go.
Nellie Akalp is CEO of CorpNet, her second incorporation filing service based on her strong passion to assist small business owners and entrepreneurs in starting and protecting their business. Through the various “Do-It-Yourself” and “Business-Startup” services she has founded since 1997, she has formed over 100,000 corporations and LLCs. As CEO of CorpNet, she helps educate small business owners to incorporate a business, Form an LLC, or File a DBA, in any state, and in any county across the U.S. To learn more about Nellie, view free guides on starting and running a business, receive a special discount, and see how she can help your business get off the ground quickly and affordably visit CorpNet today.