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Understanding Small Business Law

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March.20.2015

A large majority of questions that small business owners and entrepreneurs need to ask themselves during business set-up involve how to conduct business in a legal fashion. The questions listed below are not only important to ask, but also to learn the correct answers to. There is a lot of information out there, and a lot of people who are willing to offer you their advice and experiences.

What structure should I choose? How does the structure affect my income tax and legitimacy?
Where do I find contracts? How do I create them? Do I need a lawyer to sign off?
How do I transfer ownership? Can the seller of the business still keep a percentage of shares? How to do I even begin to buy an existing business?

The answers to these questions can be complex and intimidating, as well as easy to ignore. In the mind of a budding entrepreneur tasks like product development and consumer relations are way more important (and fun!). Nonetheless, legality is probably the single most significant aspect when setting up a new business. The last situation you want to be in is owning a unique and competitive business, but ignoring or not understanding the legality of your actions and protecting your assets. By setting up your business properly, understanding contracts, and meeting your obligations as an owner, you can mitigate legal risk, which mean spending more time on growing your business!

Your business is unique and the needs and expectations of you as an owner can be met if you use information to your advantage. Square One is co-hosting a Law Seminar with Futurpreneur and the Corporate Law Club (University of Saskatchewan) for small business owners and entrepreneurs. MLT Lawyers, Robertson Stromberg and WMCZ Lawyers are presenting on forms of business organizations, contract law, and buying a business.

Law Seminar for Small Business Owners and Entrepreneurs
March 26, 2015
6:30 – 9:30 pm
Room 150 College of Law, University of Saskatchewan
Click here for event details or call 306-242-4101 to register

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