Table of contents for Legal guide for starting & running a small business / by Fred S. Steingold ; edited by Ilona Bray.


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Introduction
A   Is  This  Book  for You?  ......i  ................ . . ..........  ........
B .  H ow   T  his  B oo k  W ill  e  i p  .................. ...... ...................... ........................ ...... 3
C.  Nonlegal M atters to  Attend  To  ........ . . -  ..... .  ....... ...  -  ...  ..... .... .. .... 5
Which Legal Form          Is Best for Your Business?
A,  Sole  Proprietorships  .  ...........  .  ....  . .. .. .......  14
B.  Partnerships  .........   ..............-............ . ......   - - -   7
83.   rpo  ral i  s  1  I i . , .  .  .  . . ^.~.\  .  I .. , .. 1 _  . .  . .  .  1 . y  . . .. . .  i '~  . i i  . r  I
C .  C orporations ...2........ ........... ................ ..... 20
D. Lim ited  Liability  Com panies ......  . ...... .....  - .................   3i
E.  Choosing Between a Corporation and an  LLC ............................  33
F  Special Structures for Special Situations ....      ..   --..   36
Structuring a Partnership Agreement
A. Why You Need a Written Agreement .......  .......   ........ ...44
B. An  Overview  of Your Partnership  Agreement ........... ...................... 45
C.  Changes  in  Your  Partnership  ....... .  ... ...  ......... . .. ..... ... ............ 54
Creating a Corporation
A.  The  Structure  of a  Corporationi ......  ..... ....... ..  .... ..........5. ...  58
B .  Financing  Your Corporation  .... .  . .. ... . . . .  .......  .  .. .. .   .  ............  61
C . Compensating Yourself ........ ,-2
C  I Co  m  p ens a t ing 5i  se  If. -^   .:_ .i; . I  - ; I   . . _ I I i  I .  I : . >    d  i   :   l   . .i -  =  n  o  :  "   "  !   R - -i p .  .  .   i .  i.  "  -   o - . :  .  -  I I _ _     .  B  ;  .  a   .D I  i  :  h  d
D. Do You Need a Lawyer to Incorporate? ...  ...-..............63
E .  O verview  of Incorporation  Procedures ........ .. ..... ............... .......... .. .. 63
F.  Tw elve  Basic  Steps  to  Incorporate ...... ............................. ..  ........ .............  64
G  After You  Incorporate  .. .. .  ... . ... . .  .  . .. .  .. . .   .......  3. .
H . Safe Business Practices for Your Corooration . I .. . .. .. . . . . ....  ... ,  ..., 73
Creating a Limited Liability Company
A. Number of Members Required  .... ..  .... ............. . ...... .. .. . 80
B. Management of an LLC.....  .....                     ...... .... 80
C,  Financing  an  LLC  . . .   . .....   .........   . .............. .  -  81 .
D.  Com pensating  M em bers ........ ....  ........... .. . .. ..  .. ......... ...  ...   83
E . Choosing a Name  ..  ... .......                           84
F.  Paperwork  for Setting  Up  an  LLC  8... .. .5. ..... .............  .. .... ... ..... 85
G . After You  Form  Your  LLC  ........ ......................8.9.. ............ . ....................   8
H. Safe  Business Practices for Your LLC  .. .... .............. ...  ........... . 90
Preparing for Ownership Changes
With a Buyout Agreement
A. Major Benefits of Adopting a Buyout Agreement- .  .....  ........... 97
B.  W here to  Put Your Buvout Provisions  .   .... .. ....   .... ... . . .. . .  . .. . .. ..  .  100
C. W hen to Create a Buyout Agreernent.... . .. .  .. . ....... ....  .. .... 1 02
Naming      our Business and Products
A. Business Names: An Overview  .. .... ...   . .............  106
B.  Mandatory  Name  Procedures  .......... .... .........  ........  108
C, Trademarks and  Service  Marks.... ..   .  ..-..  .......... ....   111
D, Strong  and W eak Trademarks ...   ....... .. ....... .. .......  .  .  112
E.  How  to  ProtectYourTrademark ...........  .... .............  ..1.   3
F.  Nane  Searches  .  ..........  . .....            .. ......  14
Licenses and Permits
A. Federal Registrations and  Licenses ...... ...  .... .. ....  ........  121
B. State  Requirements ... .... .. . . .. .......  . .  1....22
C. Regional Requirements  ................  ..          ...   124
D. Local Requirements . ..Ll... .. .... ..i  . .... Z .n .  O .....  ... ......  124
E. How  to  Deal W ith Local Bui lding and Zonin i  Officials.  ........... . ...... t 27
Tax Basics for the Small Business
A. EmploYer Identification  Number .....  . . .......  ....... ......... .  30
B.  Becom ing  an  S  Corporation  ...  .  .  .. ...... ... . .................. ... .... .......... 134
C .  Business Taxes  in  G eneral  . ..  ....   .......  .... ... . ..... ............ ..... ..... . 1 35
D. Business Deductions ..........  .. ....         ... ..  ..  141
E.  Tax  A ud its ,.  .  .... ... . . ... ........  . . . ...... . .. .. ..... ...  ... ...... .   14 7
Raising Money for Your Business
A. Two Types Of Outside  Financing  ... ... ............. ...... .. ....... 1 53
B. Thirteen Common Sources of Money.  .  ... ....  ...........   1 58
C. Document All Money You Receive. .........                  163
Buying a Business
A.  Finding  a  Business  to  Buy  .. .......... ... .. .. ......  .  .... . .. . . .. ... ..... . 1  17
B. What's the Structure of the Business You Want to Buy?.... ....  172
C, Gathering Information About a Business ......              176
D .  Valuing  the  Business .. ........... . .. .  ...  ...   ......... ........ ..... ... .. .....1  77
E.  O ther  Iter s  to  Investigate  .................... . ............ .. ,,..., ...  . ..   180
F  Letter of intent to  Purchase  ....  .......   ...............  82
G . The  Sales Agreement .. . . ...   .... 8.. .... ........... .4. . ....   T 4
.  The  C losing  ......  ...  ..... .... ........ ........  ......... . .. 192
I  Selling  a  Business  ..... . ........  .9....             19 3
Franchises: How       Not to Get Burned
A. What is a Franchise?  .  ..       .        ...  . ..  .    1 99
B. The Downsides of Franchise Ownership .. ....  ........  ... ..   .200
C.  Investigating  a  Franchise  .... ....... ....   .... ..... .. .... .. . . 204
D Thhe Uniform Franchise Offering Circular               . .......205
. The Franchise Agreement ..... ....       ..  ..  .  ... ........ 211
F.  Resolving  Disputes W ith Your Franchisor ..4.... .  ... ... ......... 214
Insuring Your Business
A. W orking  W ith  an  Insurance  Agent ......... .......... ....... ....... .......... .. .. ...  6
B .  Property  Coverage  .  .. . .. . ...  .. .. ...........  ..... ... .. ..  .. 218
C.  Liability  Insurance  ...... _........                  . . 222
D. Other Insurance  to  Consider ...   ....... ............    . .226
E Saving Money on lnsur,nce ......                      ...  ..... 227
F,  M aking  a  C la im   ... . . . . ..... ...  ........ . . . . . ............................. . .. .... .. . 2  3  0
Negotiating a Favorable Lease
A .  Finding  a  Place  .  ... . .. ...  ..............   .  . . . I  .. 1. .....  233
B.  Leases and  Rental Agreements: An  Overview  .. ..................... .... ...... .... 2 33
C. Short-Term  Leases (M onth-to-M onth  Rentals) .................. ..  ... .............. . 234
D, Written Long-Tern Leases ....     ............ 235
L^ i  v  v  ite i. i I !  r  L eases .' .t f  I *  - E  I i i  *   < *  - *  '  .  '  .   .  ,   .  * *  .  .* ' * * *.. * * *..  .  * * ' '  *  . * *  *  *. * *  . ' ' ' " *  2  3 "
E  Additional Clauses  to  Co nsider .. .   .   .  ... ..  .   . . . ... .  . .  .  .  .  .. . ..... .  .. .  .  . 7
F.  Shopping  Center  Leases . .. .. ...   .... ........................... ...... . ..... ..  24 8
G .  H ow   to  M odify  a  Lease... .......................................................... ........ . 249
H. Landlord-Tenant Disputes ......... ..................        249
1.  Getting  O ut of a  Lease .  ... . . .  . . . . .  . .....  .  . . . .  250.  2 . ..  . .  . .
I.  W hen You Need  Professional Help ....   ...............     252
A .  Z on ing  L w sr .....i   e...  ......... .......... ..  .  2.  . ... ..  .  .   ..   . .   . .  .  . .. .  .  .  .  ...4 .  . . .  2  5
B. Private 'Land  Use Restriction .....  ......... 2              259
C .  In su ra  n  ce   ....  ......  .. ..  ....  .. . .. .... . ..  ....... .. .  .. .....  ... . . .........  ....   ... ...  . 2 6  0
D. Deducting Expenses for Business Use of Your Home........  ..... 261
Employees and Independent Contractors
A.  H iring  Erip oyees ... .... .  .  ..... .  .. . ......  ... ...... _269
B. Job  Descriptions ..           .......                 ......... 272
C  .  ob  Advertisem ents.      ..  ........ . .  . . .  .... . . . . ..... . ..   . . . .  273
D . Job  A pplications  . ... .  . .  ....... . . . . .  .. . . ...  .. ..... ...   27 3
E  .  n te rv ie w s  .. . . . . . . . . . . . . . . . . . . .  .   . .   .  .  .  .   . . .. ..   .  .  .   ..... . . ...........  .....   .. . 2  4
G. Investigating Job  Application  information ......... ............ ............  , 2 86
H. Immigration  Law  Requirements  ...... .  ........ ..... ..  ...  288
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I  Personnel Practices  . .  ... ... ......   . .. .......  ... -288
t.  Illegal D iscrim ination  .. .  ... . -   . .....  . ... ..2 89
K. W ages and  Hours .,, . . .   .  .  .  .  ... ..  ..... .  .. 2:91
L Occupational Safety and Health .... .......                  295
MI  W orkers' Compensation... ..... ...        ..........      295
N .Termin ti on of Employment                                  296
O . Unemploy ment Compensation  ..  .......... ... ...... ... .................  ...   298
P  independent Contractors ...   ...... .-.. . . ...       ..  299
The Importance of Excellent Customer Relations
A. Dveloping Your Customer Sat sfaction Policy         ....... - 311
B. Telling Customers About Your Policies  .. ................ 313
Legal Requirements for Dealing With Customers
A .  A dvertising                                   . .   .....   ... ... .  ..   . . . ............ .. ..... . ..... ....  .. ...  1  6
BR  Retail Pricing and Return Practices  ...........            319
S W arrantie s  .... . .. . .  ..  ... .  ... ..  .....  ... .... . .... .......... .......... . .....  32  3
D. Consumer Protection Statutes    .....         .......      .329
E  Dealing With Customers On ine  ... ..  ......  ...    ... .  329
Cash, Credit Cards, and Checks
A ,  C ash  ..3. ....... .... .3. ....... .. ... .....  ..... .. ............. -  -  34
B. Credit Cards      ......... 334
C   C hecks .....  . .....  ....... ...........  ........  ... ...  .... . .   33 6
"Extending Credit and Getting Paid
A. The  Practical Side of Extending Credit       ....  . ....... ......... ...  . .. .. 3  42
B. lws That Regulate Consumer Credit                   .    347
(C Becoming a Secured Creditor                       .......   349
D. Collection  Problem s ... .....    .... .. . ......  ......... ...  350
E  Co nlection Op tions . .......   ... ..                .  . . 353
Put It in Writing: Small Business Contracts
A. W hat M akes a Valid  Contract ... ............... .. ..... ........ ..  .... 357
B.  Unfair or Illegal Contracts ............. ..  ..  . ..... ..  ..  359
C. Misrepresentation  Duress, or Mistake  . ........   ..  .9-3 9
D. Must a Contract Be  in W riting? .......... ............ ......  360
E. W riting Business-to-Business Contr ts .. .... ...    ...  363
F The Formalities of Getting a Contract Signed .....  .      366
C.  Enforcing  Contracts  in  Court .. .... .... ................. ........ .... ..... ....... 370
H. W hat Can You Sue Fo r?  .. . ..   .  ..... ..  .  ..  ..... .  371
The Financially Troubled Business
A. Thinking Ahead to Protect Your Personal Assets ....  ...............  ......3.. 376
B. Managing the  Financially Troubled  Business... .. ... ........... .... .  379
C.  Seeking  an  O bjective  An a lysis  ,.... ..".. ..... ..... ..... .. ... ... ...............  382
D  . W orkouts. . . ......  ....  ..   . ...  .  . .... .  .  .. .....  384
E.  Selling  or Closing  the  Business  ... .3.... ...........  . ..... . ....... . .......... . .-387
F.  Understanding  Bankruptcy  .. .. . .  ..... .  ... . . ....... ...  .. . 388
Sesolving Legal Disputes
A. Negotiating  a  Settlement .. ....... ... .  .  ......... . 398
B.  U nderstanding  M ediation  . .. ................. .......... .. ... ... ... ......  3499
C , A rbitration  .. ..  . ....... ....  . ... ..... ....  .. ....   ........  . 401
D . Going to  Court ... . . .. . ...  ..... ..  ...     . ..... 403
Representing Yourself in Smams Court
A. Deciding Whether to Represent ourself  .     .............. .  410
B.  Learning  the  Ru  les  ..  .. . . ... ...... . .......... ........ ... . ... .. .....   4  12
C. Meeting the Jurisdictional Limit. . r  .. .          ----.... ...412
D. Before You File Your Lawsuit ......             .    .. ..   412
F. Figuring Out W homn  to Sue  . .. ............         .....415
F.  Handling Your Small C airns Court Lawsuit ............. .. ............ . 416
G. Representing Yburself If You're the Defendant . . .... ................ 418
H. ApPealing  Small Claimts Decisions ... ............... .... ................. 418
SI. Collecting Your Judgment .4.. . . .  ..1.....9. ......  ......... ...19
Lawyers and Legal Research
A .  H ow   to  Find  the  Right  Law yer  ..................................................... ....   422
B .  Fees and  Bills  .- .                                           4-....... .... 4 4
C.  Problem s WA ith  YOUr Lawyier  ..... .......... .. .. ............ ....... .  426
D.  Doi - I  ourself Legal R s earch  . ....  .  .  .  . .. .. .  ..... ... . . ....... .. ..  ... .   4
D .  D o4 t  Yo u V rseF -  ^Ft  - i.'^^^t  - e.e rc ^ .- 6 . .... .......................  42 7 l  ^na  f  l  r^n"  003D  .^ lDflns  ^< DQB  ^= )o ]~ o ii s  t 1PP I R ^p i r  *- 



Library of Congress subject headings for this publication: Small business Law and legislation United States Popular works, Business enterprises Law and legislation United States Popular works