Hey Friend!
Are you confused about how to legally protect your business? I remember being so overwhelmed with how to protect my business when I first got started. I was searching the internet to try and find answers to all the legal stuff and it was super frustrating and I struggled so much! So I sat down with my friend Andrea Sager, owner of Legalpreneur, and got her top 3 ways to protect your business and copyright your podcast. And these tips are so simple to implement in your business!
P.S. You can get $20 off anything on the Legalpreneur site with the code STEFGASS
* This post contains affiliate links. This means that I get a percentage of sales at no additional cost to you.
1. To legally protect your business, you must establish your business entity
One of the most common questions that people have when it comes to how to legally protect your business and copyright your podcast is whether they should be a sole proprietor, an LLC, an S-corp, or any other type of entity. The answer is that you need to be an LLC (Limited Liability Company) as soon as possible (yes, even if you’re a new business, and even if you’re not making money yet).
The purpose of an LLC is to protect you as an individual from the debts of your company. So if you were to get sued, an LLC means that they can’t come after your car, your house, or any of your personal assets.
Obviously, you’re not trying to break the law or do anything illegal, but accidents can happen! You never know when something is going to go wrong and want to ensure that you legally protect your business long before any issues arise.
And this process is so simple, it’s way easier than I thought it was going to be. All I had to do was get a certificate from my state and pay the fee each year, and it was not even expensive!
There are 3 ways you can become an LLC:
- Go to your secretary of state’s website and file an LLC. This is the cheapest way to file as you only need to pay the state fee.
- Work with a 3rd party (like the Legalpreneur). This is a little more costly but still cheaper than working directly with an attorney.
- Work with an attorney. You may not need this option as a new business owner, but if your business is complicated, this is a better way to ensure you protect your business properly.
2. Use contracts in your business
Contracts are there to protect you and the other party. They’re not about anyone trying to be sneaky and squeeze things in that shouldn’t be there. This is such a simple way to make sure that everyone knows what’s going on and everyone is protected.
You can buy contract bundles to keep things even simpler! The Legalpreneur has bundles specifically for coaches and podcasters, and I use them every day in my business. All I have to do is fill in the blanks on the documents and they’re ready to use! Then I pair this with SignNow to get everything signed.
3. Legally protect your business by understanding your intellectual property rights
There are 3 types of intellectual property:
- Patents
- This covers things that are invented
- Trademarks
- This is for branding, e.g. your business name, logo, and podcast name
- Copyrights
This is your creative content, e.g. your photos, videos, blog posts, course materials, and podcast episodes
The moment you create something, you own the copyright to it. So all those podcast episodes you’re putting out there are protected immediately! You don’t have to have a registration to copyright your podcast, you just need to put the copyright symbol and the current year on the page.
The only thing you can’t do without copyright registration is suing somebody. You are most likely better spending your money on a trademark application to legally protect your business and your brand instead of copyright registration.
Trademarks can be expensive, and if you’re still in the early stages of your business, you may pivot and no longer need the brand that you trademarked! But you still need to be aware of trademarks from the beginning to protect your business.
Here are 3 bonus tips to help you with trademarks:
- Do a proper trademark search. This involves going to the trademark database and searching the exact name AND similar names to make sure your name can’t be confused with anyone else’s stuff. The Legalpreneur has a course on how to do this if you want to dig into the details!
- If money is not a problem, file your trademark application as soon as possible. But if it is, wait until you have momentum.
- Prioritize the things in your business that need to be trademarked. Start with your overall brand first and then your biggest money-making offer.
Thinking about everything you need to do to legally protect your business can be overwhelming. But focus on these 3 simple steps – Establish your business entity, make use of contracts, and understand your intellectual property rights – to get you going in the right direction.
If you want to learn more about the legal side of your business, check out Andrea’s podcast, The Legalpreneur podcast. She gives you bite-sized pieces of information to help you legally protect your business and yourself!
If you’re just getting started with your business, check out my Complete Business Blueprint. It’ll give you everything you need to know, IN ORDER, for getting your business set up and on the right track. And it’s free!
I pray this blesses you!
Xo,
Stef
P.S. Also, listen to podcast episode 401 for the full training on How to Legally Protect Your Business and Copyright Your Podcast with Andrea Sager from Legalpreneur.
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