155 Legal Do's (and Don'ts) for the Small Business

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Wiley, Aug 28, 1996 - Business & Economics - 239 pages
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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

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About the author (1996)

PAUL ADAMS is an intellectual property lawyer practicing with the firm of Peacock & Myers in Albuquerque, New Mexico. He formerly started and ran as President and CEO several high-technology companies, including Calios, Inc., a manufacturer of fiber optic data communication systems. He is actively involved in assisting new venture companies.

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