what would a lawyer ask an entrepreneur internet-based business

Why don't lawyers want to be entrepreneurial?

There are a number of reasons for this lack of entrepreneurial sensitivity among lawyers. The U.S legal system rests on guidance from previous case law, and focuses heavily on precedent and risk-spotting -- instead of breaking stuff and disruption associated with fast-growth companies. It may even be in the legal genes.

Do I need a small business lawyer for my business?

Remember, small business lawyers cost far less than what you’d pay for unwanted provisions. If your business uses contracts, consider hiring a contract lawyer to review them and make sure your business is represented properly. The information in this article can help you when you face a legal situation.

What is an internet entrepreneur?

An internet entrepreneur is essentially someone who operates their businesses online. Compared to traditional business owners that require huge capitals, shop houses, ready-made products, and staff management, online entrepreneurs seem to have an inherent advantage when it comes to business management and start-up costs.

Do I need an intellectual property lawyer for my business?

If your company has trademarks and patents, you’re likely to need an intellectual property (IP) lawyer. These lawyers are qualified to handle matters concerning copyrights, trademarks, patents, and even brand recognition concerns. An IP lawyer can also work to make sure your business isn’t infringing on the IP concerns of other companies.

Why should an entrepreneur consult with an attorney?

The most common reasons for needing an attorney are: Navigating the many forms and requirements of legal documents, like incorporation documents, that are involved. Assurance the startup is being done right.

In what ways can a lawyer assist an entrepreneur when starting a business?

Hiring a lawyer will help make sure your business is legal and prepared for success.A Lawyer Will Set You Up for Success.Connect With Investors.Correct Mistakes Before They Cause Problems.Avoid Legal Problems Early.Protect Your Interests.File the Required Paperwork.Tax Advice.Protect Intellectual Property.More items...•

What questions should be asked before starting a business?

17 Questions You Should Ask Yourself Before Starting A BusinessWhy do I want to start a business? ... Can this business idea make me money now and in the future? ... Who is my target audience for my business? ... Who are my competitors? ... What is your USP? ... How will I market my business? ... How will I price my products?More items...•

How do you make an online business legal?

Begin the Registration ProcessRegister your entity name. ... Register your “Doing Business As” (DBA) name. ... Register your business as a legal entity. ... Register your business with the IRS and state tax authorities. ... Register for the appropriate licenses and permits.

What questions should I ask my consultation business lawyer?

7 Questions to Ask Your Attorney Before Starting a BusinessWhat Business Structure Should I Choose? ... What Do I Need to Know About Choosing a Name for my Business? ... How Do I Minimize My Risks as an Employer? ... What Should Be In My Operating Agreement or Bylaws? ... How Can I Protect My Intellectual Property?More items...•

What does a business lawyer do?

A business lawyer educates clients on applicable laws and best practices, and represents them when an issue arises. Compliance & Risk Management – New and even established businesses benefit from an experienced business lawyer who can advise on compliance issues and develop systems to monitor and minimize risk.

What questions would you ask an entrepreneur?

Questions to ask successful entrepreneursWhat are the three most important habits to be a successful entrepreneur?What is a typical day like for you?What's your favorite aspect of being an entrepreneur?What are the biggest challenges to being an entrepreneur?How do you stay on top of industry trends?More items...•

What are the 4 basic business questions?

The 4 Questions You Need to Ask When Starting a BusinessWhy are you deciding to start the business? This is the most important question to answer before you do anything else. ... What capital do you have access to? ... What do you know how to do? ... If this failed, would you regret it?

What are some business questions?

Thirty Most-Asked Questions about Small BusinessDo I have what it takes to own/manage a small business? ... What business should I choose? ... What is a business plan and why do I need one? ... Why do I need to define my business in detail? ... What legal aspects do I need to consider? ... What do I need to succeed in a business?More items...

What documents are required for online business?

Documents needed for starting Sole proprietorship businessPAN card (Permanent Account Number) and valid government recognized ID proof (passport, voter card, aadhar, etc.) ... Bank statement or a copy of a cancelled cheque.Copy of electricity bill/ landline bill, water bill.More items...•

Does an online business need a business license?

The short answer to whether a business license is a requirement for online selling: yes. A business license is a requirement for online selling and it's a crucial part of establishing your business as legitimate and legal.

What is online business law?

What are online business laws? Online business laws govern digital product and services sales, digital copyrights, as well as customer data collection, storage and processing. Such laws were designed to make online browsing and shopping experience safe, secure and fair for businesses and consumers alike.

1. Haley Altman, CEO and founder, Doxly

Altman says her idea for an automated document and transaction management platform was born at 1 a.m. when, as partner at a law firm, she sat surrounded by hundreds of manila folders. Altman and her team were hunting through thousands of documents for one missing signature page holding up a multimillion dollar closing.

2. Noory Bechor, CEO and co-founder, LawGeex

My boss Noory Bechor was a lawyer at a top Israeli law firm when he experienced firsthand the pain of creating and reviewing everyday contracts manually. Convinced the process could be automated, he founded AI contract review platform LawGeex in 2014.

3. Ned Gannon, co-founder, eBrevia

Ned Gannon graduated from Harvard Law and worked in a law firm, before founding eBrevia, based on technology developed in partnership with Columbia University. EBrevia provides contract due diligence and lease abstraction.

4. Michael Mills, co-founder and chief strategy officer, Neota Logic Inc

Michael attended the University of Chicago Law School, then served as law clerk to a United States district judge before becoming partner at global law firm, Mayer Brown. Mills created Neota Logic, an AI-driven, no-code platform for intelligent automation of expertise, documents and processes.

5. Chrissie Lightfoot, CEO and founder, Robot Lawyer LISA

Former lawyer Chrissie Lightfoot is now a bestselling author, consultant, legal and business commentator. In 2016, she created Robot Lawyer LISA (Legal Intelligence Support Assistant), the "world's first impartial AI lawyer." “These are evolutionary, revolutionary and transformational times," she says.

6. Nehal Madhani, CEO and founder, Alt Legal

Nehal Madani, founder of Alt Legal, graduated from University of Pennsylvania Law School and landed a job at the prestigious law firm Kirkland & Ellis. Inspired to make legal practice more efficient, he left his high-paying salary, taught himself to code, and started Alt Legal, a cloud-based software using technology to manage global IP filings.

7. Joseph R. Tiano, CEO and Founder, Legal Decoder

After practicing law for nearly 20 years as partner at two American Law 50 law firms, Tiano founded Legal Decoder seeing that clients lacked analytic tools and data to manage costs of outside counsel. He told High Performance Counsel to lean on the experience of investors. “About six of my investors in Legal Decoder truly inspire me.

What is a good business attorney?

A good business attorney will provide vital assistance in almost every aspect of your business, from basic zoning compliance and copyright and trademark advice to formal business incorporation and lawsuits and liability. First, some general rules about dealing with lawyers:

How much do lawyers have to pay upfront?

Many attorneys require payment of a flat fee upfront, so that they can cover their out-of-pocket expenses. You should always ask to "hold back" 10 to 20 percent of a flat fee, though, in the event the lawyer doesn't do the job well.

What skills do you need to be a lawyer?

You will need a lawyer who can understand your business quickly; prepare the standard form contracts you will need with customers, clients and suppliers; and help you respond to contracts that other people will want you to sign. 2.

What is a "finder" attorney?

Your attorney should be a combination of a "minder" and a "grinder.".

Why are larger firms more expensive?

While larger firms are more expensive to deal with, they have two significant advantages: 1) they usually have all the legal skills you need "under one roof," and 2) they have a lot of clout in the local, regional and (perhaps) national legal community.

Why do I need an accountant?

The reasons for hiring an accountant are pretty obvious--you need someone to help you set up your "chart of accounts," review your numbers periodically, and prepare all of your necessary federal, state and local tax returns. The reason for hiring a business attorney may not, however, be so apparent. A good business attorney will provide vital ...

Do lawyers know everything?

No lawyer can possibly know everything about every area of law. If your business has specialized legal needs (a graphic designer, for example, may need someone who is familiar with copyright laws), your attorney should either be familiar with that special area or have a working relationship with someone who is.

What is a business lawyer?

2. Develop stronger, good faith relationships with investors.

Why do companies need an attorney?

Here are 6 undeniable reasons why your company needs an attorney today: 1. Gain a key business advisor without supporting the weight of a new employee. A business attorney isn’t just there to represent you in court.

How can an attorney help you?

5. Use your attorney’s connections to spread the word about your business.

What can a corporate lawyer teach?

A strong corporate lawyer can teach. Your attorney is able to educate you and your staff regarding various legalities and illegalities throughout the course of your day-to-day business. Your entire operation becomes more efficient and compliant as a result.

Written By

Jane Porter is a freelance writer and editor based in Brooklyn, NY. You can find more of her work at Janeroseporter .com

Jane Porter

Jane Porter is a freelance writer and editor based in Brooklyn, NY. You can find more of her work at Janeroseporter .com

What is a general business lawyer?

1. General Business Lawyer. As the name suggests, a general business lawyer can provide legal advice on a wide range of matters. This type of lawyer has a hand in every legal discipline. If your business doesn’t deal with special circumstances, a general business lawyer may be well suited to your purposes.

Why is it important to hire a lawyer?

However, if your business is subject to a lawsuit, you’ll be relieved that you hired a lawyer. When evaluating lawyers, you should ask a lot ...

What is a CPA for a business?

Taxes for businesses can get complicated. For this reason, it pays to use a qualified tax professional, such as a Certified Public Accountant (CPA). While a CPA can be beneficial when your business gets audited, there could be a situation where the tax authority decides to take legal action against your business.

What kind of law do lawyers specialize in?

People sometimes wonder what types of lawyers are available to them. Lawyers often specialize in either business law or personal law. For this reason, you should search for lawyers who have business law experience.

What is an employment lawyer?

Employment and Labor Lawyer. Using an employment and labor lawyer only makes sense when your business has employees. If it does, your business should comply with state and federal laws. An attorney in this area of the law can help you draft employee manuals and ensure safety standards are in place.

What happens when you buy and sell a business?

When you buy and sell businesses, you’ll negotiate for the property and assets of those businesses. It may not always be clear what you’re entitled to during these negotiations. It pays to have a mergers and acquisitions (M&A) lawyer representing your interests in the transactions.

Can a lawyer review a contract?

In addition, some lawyers are knowledgeable about tax issues, even if they aren’t accountants. They may have handled legal tax matters for other business owners and can make sure you don’t run into the same issues.

Written By

Geoff Williams has written for numerous publications, including Entrepreneur, Consumer Reports, LIFE and Entertainment Weekly. He also is the author of Living Well with Bad Credit.

Geoff Williams

Geoff Williams has written for numerous publications, including Entrepreneur, Consumer Reports, LIFE and Entertainment Weekly. He also is the author of Living Well with Bad Credit.

What is an entrepreneur?

An entrepreneur is an individual who creates, launches and operates businesses. Navigating this career path can come with challenges, but you can obtain guidance by having an informational interview with a successful entrepreneur. During this conversation, you can ask questions that help you gain insights into this career path. For example, you may ask about mistakes they have made or challenges they faced along their journey. By asking these questions, you can feel more prepared to avoid or overcome those challenges as an entrepreneur.

What to ask an entrepreneur about their journey?

Asking an entrepreneur what they would change about their journey can help you avoid making those mistakes yourself. You can also use the changes they wish they could make as guidance for developing your business.

What to ask a professional about a career?

When you are interested in a particular career path, you may find it helpful to ask a professional in the field about their experiences . Entrepreneurs can take many routes to success, so speaking to successful individuals can provide you unique insights to guide your career. This guidance can help you develop effective strategies ...

What does it mean when an entrepreneur has an a-ha moment?

An "a-ha" moment represents a revelation or epiphany that an individual has. In this situation, it may represent the moment an entrepreneur realized that they had a winning business idea. Often, entrepreneurs may come up with many business ideas before finding one that works.

Do you need compromises to develop a business?

Developing a business may sometimes require compromises. While often necessary, you may find it insightful to learn about where the entrepreneur is not willing to compromise or negotiate. These items might align with their values or mission as a business.

What is an internet based business?

This is an inexpensive and friendly internet-based business idea best suited to people who want to earn some extra income while working from home. You can freelance as a writer, marketer, designer, translator, coach and many more. Depending on your skillset and knowledge, you can take up projects and assignments from different clients and companies. There are many companies that hire contract workers to work for them.

What is digital marketing?

Digital marketing is the umbrella that covers SEO, SEM, SMM, and other online marketing strategies. It makes for lucrative internet-based business ideas provided you have the necessary skills and talent. If you are a webmaster who is proficient in online marketing techniques then you can get projects from business clients. You can outsource some of the work such as SEO writing, web designing, affiliate marketing and the like to freelancers to reduce the workload and meet the needs of the client.

What is ecommerce business?

E-commerce is one very promising niche that is already seeing lots of action and it will only escalate in the coming times. It offers you some great internet-based business ideas. You can start selling your handmade products like wall hangings, crocheted blankets, used items, vintage collection and creations such as paintings, artwork by setting up an e-store.

Is mobile the future of the internet?

Mobiles are the future of the internet. 5 million downloadable apps are available on the Apple store and 1.6 million on Google Play store. With growing smartphone usage, app development has emerged as the next big thing for software professionals. It is a brilliant internet-based business idea if you know to code and can create solutions. You can create your apps and sell them on app stores. There are a fair number of success stories to get inspired with.

What is an internet entrepreneur?

An internet entrepreneur is essentially someone who operates their businesses online. Compared to traditional business owners that require huge capitals, shop houses, ready-made products, and staff management, online entrepreneurs seem to have an inherent advantage when it comes to business management and start-up costs.

What is an entrepreneur?

Entrepreneur is a person who organizes and operates a business, taking on greater than normal financial risks in order to do so. Well, that’s partly true, but not entirely. An entrepreneur is indeed a person who organizes and operates a personal business, and most likely he/she is the main decision maker as well.

What is the most rewarding aspect of online entrepreneurship?

One of the most rewarding aspect of online entrepreneurship is time, location and financial freedom. An online business can be worked on anytime of the day, in any part of the world (as long as you have an internet connection, of course), and the monetary rewards sets you free from the shackles of having a job.

How long is the internet open?

The internet is operating 24/7, which means an online entrepreneur is open for business 24 hours a day, 365 days a year. By building an online business, you are essentially reaching customers from the whole world, no matter their geographical locations and their time-zones.

Is it risky to be an online entrepreneur?

However, an entrepreneur doesn’ t necessarily take on a greater than normal financial risks in order to do so, especially in the age of internet. Online opportunities are aplenty. More often than not, depending on a a single day job for income is more risky than becoming an online entrepreneur.

Haley Altman, CEO and founder, Doxly

• Altman says her idea for an automated document and transaction management platform was born at 1 a.m. when, as partner at a law firm, she sat surrounded by hundreds of manila folders. Altman and her team were hunting through thousands of documents for one missing signature page holding up a multimillion dollar closing. Founded in 2016, Doxly has si...

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Noory Bechor, CEO and Co-Founder, LawGeex

Ned Gannon, Co-Founder, eBrevia

Michael Mills, Co-Founder and Chief Strategy Officer, Neota Logic Inc

Chrissie Lightfoot, CEO and founder, Robot Lawyer Lisa

Nehal Madhani, CEO and founder, Alt Legal

Joseph R. Tiano, CEO and founder, Legal Decoder

Michael Sander, founder, Docket Alarm

Andrew Arruda, CEO and Co-Founder, Ross Intelligence

Noah Waisberg, Founder and CEO, Kira Systems