Survival Mode Radio Show #07 - Building a Bulletproof Business: Legal Foundations, Naming, Hiring, and IP Protection for Entrepreneurs

The crew kicks things off by getting real about business structures and the non-negotiable importance of legal and regulatory compliance to protect your assets (and your sanity).

Key Takeaways:

• Choose the Right Legal Structure: LLCs, S Corps, and C Corps each have unique pros, cons, and protective layers—don’t DIY without consulting an expert.

• Invest in Relationships: Having a lawyer and CPA on speed dial (or retainer) isn’t a luxury—it’s your insurance policy against disaster.

• Don’t Launch Underprepared: If you can't afford the right legal help yet, focus on planning and networking until you can—building a business on shaky ground costs more in the end.

A memorable, legally sound business name is critical, but the real magic (and protection) comes from understanding the compliance steps behind it.

Key Takeaways:

• Start with Vision, End with Research: Your business name should reflect your mission and be available—check for trademarks, domain names, and existing entities.

• Compliance Keeps You Safe: Register locally, federally, and obtain necessary licenses before you open; don’t skip the “boring” legal details.

• Industry Regulations Matter: Specific industries may require special codes (like NAICS) and extra steps—get compliant so you don’t get shut down.

Hiring help? Know the must-dos, must-don’ts, and how to avoid costly misclassification mistakes when building your team.

Key Takeaways:

• Distinguish Early and Clearly: Employees follow your SOPs and require payroll taxes/benefits, while contractors are project-based and self-directed—mislabeling can crush a business.

• Stay on Top of Employment Law: Know anti-discrimination, record-keeping, and posting requirements—ignorance isn’t a defense.

• Call in the Experts: Small businesses can (and should) hire HR pros or outsource when you don’t have in-house resources—don’t wing it.

Your intangible assets—like secret recipes, code, or even domain names—can be worth more than your physical ones. Learn why and how to keep them from slipping away.

Key Takeaways:

• Understand Your IP: Copyrights, trademarks, patents—know the difference and the process for securing what’s yours.

• Documentation Cuts Out Conversation: Keep thorough records of your creations and IP assets; proof matters in disputes.

• Plan, Prepare, Position: Make IP protection part of your ongoing business strategy, not a last-minute scramble.