Shownotes
Episode 45: Building Wealth Through Entrepreneurship While Legally Protecting Yourself and Your Business
Choosing the Right Business Structure
- Sole Proprietorship: No liability protection.
- LLC: Liability protection, flexible taxes, needs a strong operating agreement.
- Corporation (C-Corp/S-Corp): Strong protection, more regulations.
Contracts & Legal Agreements
- Essential contracts: client agreements, partnership agreements, employment contracts, NDAs.
- Get contracts in writing to prevent disputes.
Protecting Intellectual Property
- Trademark, copyright, and patent protection.
- Register with the USPTO to secure your brand.
Financial & Tax Strategies
- Separate business and personal finances.
- Utilize tax deductions, depreciation, and retirement plans (SEP IRA, solo 401K).
Risk Management & Succession Planning
- Business insurance (liability, professional, cyber).
- Create a succession plan and estate plan for long-term protection.
Stay legally savvy and financially fearless!
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This podcast episode contains general information for discussion purposes only. Each case is different and must be judged on its own merits. Missouri rules generally prohibit lawyers from advertising that they specialize in particular areas of the law. This article should not be construed to suggest such specialization. Nothing on this site should be taken as legal advice for any individual case or situation. This information is not intended to create an attorney-client relationship, and the listening or viewing of this podcast does not constitute an attorney-client relationship. The choice of a lawyer is an important decision and should not be based solely upon advertisements.
