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Legal, Insurance & Compliance
266 posts
Your Technology Company Needs E&O Insurance: Here’s Why
Every business has unique risks that can seriously harm its operations if not properly addressed. As a business utilizing technology to produce and deliver products or services, it’s important to recognize and take precautions against risks that your commercial general liability (CGL) coverage doesn’t include. Technology professional liability coverage, also referred to as tech errors...
10 Tips for Landing a Product Licensing Deal
When you’ve got a great idea for a product, there’s an important decision to make right up front: Do you want to build a brand new company from the ground up in order to commercialize the product, or do you sign a product licensing deal with a preexisting company that already has the resources in...
Why General Liability Insurance Isn’t Enough on its Own
General liability insurance is just that—general. While it provides coverage for a wide variety of potential losses, including claims for bodily injury, personal injury, advertising injury or property damage as a result of your products, premises or operations, if you’re sued for service errors, contract performance disputes or any other professional liability issues, general liability...
What Entrepreneurs Need to Know About the Home Office Deduction
You may see your home office as the place you take important business calls, the place you meet new clients, the place you focus best on crafting your products -- but what about the place you save money on your taxes? The home office deduction can save entrepreneurs a significant sum on their taxes. Here,...
5 Ways to Grow Your Startup Using the Power of Negotiation
Negotiation is one of the fundamental parts of staring your own business. Everything from acquiring a business loan to clinching deals with new clients and settling prices with suppliers will take an element of bargaining and compromise. For some, this type of haggling comes as second nature; but for others, the mere thought of business...
Why Cyberattacks Are on the Rise and What It Means For You
In a March 21, 2022, statement, President Joe Biden cautioned businesses in the private sector to harden their cyber defenses, reiterating earlier warnings related to potential cyberattacks against U.S. organizations by Russia as retaliation for recent economic sanctions. While there is no evidence of an imminent attack tied to the Russia-Ukraine crisis, Biden’s top cybersecurity...
Ransomware Is Biggest Threat to Small Business
Recent high-profile cyberattacks on large companies such as Colonial Pipeline, JBS Meats and Solar Winds have raised awareness of the growing threat of cyber risk, and may indicate to smaller business that they’re safe. After all, what criminal would go after a little guy when there are so much bigger fish to net? Turns out,...
Kapnick Insurance: Family-Owned, Thriving and Evolving
On this episode of WJR's Business Biography, Jeff Sloan unpacks the history behind Kapnick Insurance, which is celebrating its 76th year in business. What was started out of necessity by Elmer Kapnick in 1946 after a spat with his father-in-law has grown to what is now a fourth-generation family-owned business founded on the fundamental values...
Tips to Help Employers Resolve Remote Work Compliance Challenges
Remote workplaces have offered employees many benefits and revolutionized the way businesses operate. However, there are still many challenges employers face, especially when it comes to compliance in a remote space. The lack of face time with your employees can cause significant concern for company protection, restrictions and limitations on employee coverage and maintaining compliance...
5 Legal Must-Haves for E-Commerce Businesses
After an e-commerce business incorporates or forms an LLC, it’s time to review a small business checklist. There are essential items every e-commerce business needs, such as filing for business licenses and an employer identification number (EIN). It’s equally important to consider the nature of how e-commerce businesses conduct business. For example, an e-commerce business...
Which Entity Should E-commerce Businesses Choose for Incorporation?
Should an e-commerce business file for incorporation? The short answer is yes. It is possible to run an e-commerce business as an unregistered entity. This is a default business formation known as a sole proprietorship. Entrepreneurs can start and run businesses structured as sole proprietorships particularly if the business is one with limited growth potential...
Foundational Finance Considerations You Can’t Overlook When Launching Your Startup
There are few moments in the life of a business as consequential as Launch Day, the moment you finally get to lift the veil on the project you’ve been working on. It’s a heady time, one that is a mix of excitement (“Holy cow, we’re finally doing this!”) and anxiety (Holy cow, we’re actually doing...
5 ‘Boring’ Startup Responsibilities You Can’t Afford to Ignore
Starting a business is thrilling. You’re finally taking your business idea and turning it into a reality. And to do that, you have to check some exciting tasks off your list, like thinking of a name and decorating your office space. Unfortunately, not all tasks are going to be “fun” ones. There are a number...
Ready to Exit Sole Proprietor Status? Consider These 4 Entities for Incorporation
A new year means a clean slate for business. If your business is still in sole proprietor status, now is the perfect time to start thinking about incorporating as a registered entity formation. What registered entities should entrepreneurs incorporate as? Here are a few popular options for entrepreneurs planning to exit sole proprietor status. Limited...
How Do Smart Contracts Work for Startups?
Smart contracts use the blockchain, the technology that powers crypto, to generate self-enforcing and digitally distributed contracts. They can execute themselves automatically when certain conditions are met and are difficult to manipulate or spoof, preventing fraud. These smart contracts may be perfect for startups and other newer, less-established companies — especially when they’re creating business...
5 of the Biggest Gaps in Cyber Liability Insurance
An alarming number of data breaches and cyberattacks have occurred in the past several years, thanks to a global pandemic and various other factors. More precisely, cyberattacks have increased by 27% compared to 2020, with phishing and ransomware leading the way. As a result, all businesses — from startups to worldwide enterprises — must guard...
How Do Small Businesses Stay in Compliance?
What do we mean when we talk about small business compliance? Business compliance means meeting a series of internal and external business compliance requirements. These requirements are determined by the state of incorporation and may be defined under the terms listed below: Internal Business Compliance: These are forms of recordkeeping for incorporated businesses. Recordkeeping depends...
Employer Guides: Vaccine Policies in the Workplace
Lately the topic of vaccines in the workplace, specifically what employers can do, has been a popular point of discussion, and now with the new executive order in place regarding COVID-19 vaccinations, employers are wondering how they can implement a vaccine policy in their workplace. There are many factors that come into play when implementing...
Should Entrepreneurs Incorporate as an LLC or PLLC?
Entrepreneurs who choose to incorporate as a limited liability company (LLC) may pause when they realize there is a secondary option available known as a professional LLC (PLLC). What is a PLLC? How does it differ from an LLC? Which is the best option to incorporate a business? Let’s explore the differences between the entities...
Ask the Experts on StartupNation Radio: Greg Packer on the Importance of Following the Rules
On this week's episode of StartupNation Radio, Jeff Sloan talks with AccessPoint's Greg Packer about how cutting corners can hurt your long-term success. Tune in to the StartupNation Radio show with Packer to learn more: Greg Packer is the president of AccessPoint, a business that provides human resource services. He is StartupNation's human resources expert....