Do You Know How To Legally Protect Your Small Business?

Take this quiz to find out how aware you are of legal pitfalls and then follow the tips for improvement.

Reading DocumentDo You Know How to Legally Protect Your Small Business?

Are you on top of what you need to know to protect yourself legally? From the time you open your doors for business even before there are many different areas you need to watch. Most likely, you’ve engaged an attorney at least for your startup. But if you’re a sole proprietor, for example, who’s ready to expand, plan on paying even more attention to the legal basics.

Take this quiz to find out how aware you are of legal pitfalls and then follow the tips for improvement.

1) Do you know the difference between an at-will employment relationship and a contractual relationship?

Yes No

2) Do you know whether you are your company’s “agent for the formal service of legal documents”?

Yes No

3) For protecting your business identity, do you know the difference between a trademark and a copyright?

Yes No

4) Does the existing copyright law protect software and advertising copy?

Yes No

5) Does your business have a written personnel policy?

Yes No

Do You Know How to Legally Protect Your Small Business?

Did you answer mostly YES? Congratulations! You obviously appreciate the importance and value of legal advice. Chances are you’re the sort of business owner who seeks legal counsel as a matter of course. Your attorney is a true partner in your business planning. That speaks well for your future expansion, not to mention your ability to head off legal troubles in the short term.

Did you answer mostly NO? Okay, so you’re not a legal eagle but you know one. Time to back up a step and scrutinize your business practices from a legal standpoint. In our increasingly litigious society, you never know when you’ll be on the giving end or receiving end of a lawsuit. And in today’s competitive job market, your choice of the employment relationship is a crucial as ever. Know when you’ve got a contract, when you don’t, and when you should.

Would you like your own, personal business advisor, someone who has been there before and can guide you along your path to business success? Ask SCORE today. And, get a business mentor on your team. Counseling is free and confidential.