Business Entities
This type of business is commonly owned by one person.
What is a sole proprietorship?
This legally binding agreement outlines promises and expectations between parties.
Contract
This type of intellectual property can protect a business name or logo.
Trademark
These are the costs a business pays to operate, such as supplies and shipping.
Expenses
This may help cover certain business risks, depending on the policy.
Insurance
This business structure is formed under state law and can help protect owners from certain business liabilities.
LLC
This agreement can clarify ownership, responsibilities, and profit-sharing between business co-owners.
Partnership agreement
This type of protection applies to original creative works, such as artwork, writing, and photographs.
Copyright
This responsibility should be planned for when a business earns money.
Taxes
This term refers to potential legal responsibility for harm or loss.
Liability
This process involves filing the appropriate formation paperwork with the state when creating an LLC or corporation.
Business registration / formation
This type of agreement outlines what a business will provide to a customer and what the customer will pay.
Customer agreement
This type of intellectual property may protect a qualifying invention.
Patent
These records show money coming into a business and money going out.
Sales and expense records
This promise can make a business owner personally responsible for a guaranteed debt.
Personal guarantee
This federal identification number is used for certain business tax and reporting purposes.
EIN (Employer Identification Number)
This agreement sets expectations between a business and the company or person supplying its goods or services.
Vendor agreement
This agreement may help keep confidential business information private.
Nondisclosure agreement (NDA
A business makes a claim about a product without evidence to support it. What should its marketing claims be?
Honest advertising
This University of Akron resource offers legal support to eligible small and emerging businesses.
SEED Legal Clinic
This official Ohio resource helps entrepreneurs understand the steps for starting and registering a business.
Ohio Business Roadmap
This should be clearly stated in a written customer agreement so both parties understand when payment is due.
Payment terms.
A business hires a freelancer to create a logo. The business wants to know whether it can keep using the logo after payment. What should be clarified?
Ownership rights / usage rights
A business sells a product that could injure customers if used incorrectly. What requirements should the owner check?
Product safety and labeling requirements
This Ohio organization provides business guidance and support to entrepreneurs.
Small Business Development Center (SBDC)