What's legally sound--and what's not--for the most common problems facing today's small business owner
One of the most difficult aspects of starting and running a small business is knowing what are the requirements for compliance with the law . . . and what legal pitfalls to avoid. This user-friendly guide, written by a practicing attorney, features a format that offers helpful cross-references and quick access to 155 major legal do's and don'ts in a variety of subject areas, including international transactions, contracts, intellectual property, computers, business succession planning, and more. Included are such important topics as:
- Employment--hiring aliens
- DO be sure to comply with the requirements for hiring aliens
- DON'T trip over the discrimination laws when complying with the alien hiring laws
- Litigation--arbitration
- DO use an arbitration clause in your contract if the situation warrants
- DON'T allow the arbitrator to "split the award down the middle"
- Commercial transactions--warranties and disclaimers
- DO limit your warranty exposure by using proper terms in your sales order forms
- DON'T indemnify against patent infringement except where it is advantageous
- Financing--personal guarantys
- DO carefully consider the personal financial implications of signing a guaranty
- DON'T sign a guaranty without carefully considering the terms
- Types of businesses--conversion from a corporation
- DO convert your corporation to a Limited Liability Company (LLC), if appropriate
- DON'T ignore the tax effects of a conversion from a corporation to an LLC
