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Entrepreneurial Series Fundamentals of Business Legal Issues
Objectives ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
Agenda ,[object Object],[object Object],[object Object],[object Object],[object Object]
Introduction ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
Legal Considerations  when Starting a Business ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
Legal Identity and Business Entities ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
Comparison of Common Forms  of Business Ownership ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
Tax Treatment of Business Entities ,[object Object],[object Object],[object Object]
  Legal Structure Options Regulation Start-up cost and registration Entity & Life Liability Taxation Sole Proprietor Least Regulated Low County Tied to Individual Unlimited  Individual -Schedule  “ C ” Partnership Limited Regulation Low County Tied to Partners Partners Liable Shared Schedule  “ C ” Limited Liability Company Limited Regulation Relatively Inexpensive State As agreed to by Members Limited to Assets of company May choose to be taxed as partnership Corporation  “ C ”  corp  “ S ”  corp (IRS election) Most regulated Most Expensive State Perpetual Legal Entity No Individual Liability Double taxation
Form 1040 Schedule C  Profit or Loss from Business
Registering the Business Name ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
How to Enter a Market  Business Start Up ,[object Object],[object Object]
How to Enter a Market  Purchasing an Existing Business ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
How to Enter a Market  Purchasing a Franchise ,[object Object],[object Object],[object Object]
Selecting and Using Legal Counsel  in your Business ,[object Object],[object Object],[object Object],[object Object],[object Object]
Contract Basics - Elements of a Contract ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
Specific Types of Agreements ,[object Object],[object Object],[object Object]
Leases ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
Collection Action Plan ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
Construction Liens ,[object Object],[object Object]
Intellectual Property Protection ,[object Object],[object Object],[object Object],[object Object]
Employment Issues ,[object Object],[object Object]
Independent Contractors versus Employees ,[object Object],[object Object]
Property ,[object Object],[object Object],[object Object],[object Object],[object Object]
Zoning Issues ,[object Object],[object Object],[object Object]
Insurance ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],The Michigan SBTDC TM
www.misbtdc.org/region7 Michigan SBTDC Services  ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
Small Business Resources Additional Local Resources

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Fundamentals Of Business Legal Issues Grand Valley

  • 1. Entrepreneurial Series Fundamentals of Business Legal Issues
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  • 9. Legal Structure Options Regulation Start-up cost and registration Entity & Life Liability Taxation Sole Proprietor Least Regulated Low County Tied to Individual Unlimited Individual -Schedule “ C ” Partnership Limited Regulation Low County Tied to Partners Partners Liable Shared Schedule “ C ” Limited Liability Company Limited Regulation Relatively Inexpensive State As agreed to by Members Limited to Assets of company May choose to be taxed as partnership Corporation “ C ” corp “ S ” corp (IRS election) Most regulated Most Expensive State Perpetual Legal Entity No Individual Liability Double taxation
  • 10. Form 1040 Schedule C Profit or Loss from Business
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  • 29. Small Business Resources Additional Local Resources