Hazards for Business Beginners: The Disasters Are in the Details
Small business owners may not realize the extent of the legal apparatus that governs even a small, emerging business. In fact, unintentional missteps can put you on the wrong side of the Securities and Exchange Commission (SEC), the Federal Trade Commission (FTC), and the Internal Revenue Service (IRS), or expose you to lawsuits over patent and trademark infringement. On the plus side, taking proactive legal steps—writing good contracts and spelling out agreements with partners and investors—can help you build a solid foundation for your fledgling enterprise.
Issues faced by new business owners include: