Why care about business law anyway? Why does it matter?
This free legal information is made available courtesy of Counsel to Creativity.
Without why, the law doesn’t make any sense. And frankly, it’s a dry, boring set of rules and cover-your-arse attempts.
But there’s more. Law takes care of each of your business’s Creativity, Structure and Relationships in two basic ways:
- It protects your business
- It grows your business
That may sound surprising—that law grows your business—but that’s the cool piece to look at: how law can help you make your business what you want it to be.
But let’s take the most common reason business owners ask legal questions first—Protection.
How Can Law Protect Your Creative Business?
The right business entity protects your personal assets from liability and can save you some tax exposure.
A copyright protects your original work from copying, distribution, use and related activities by others.
Agreements protect the interests of your business and the commitments it makes in its relationships.
These protections bring you peace of mind. I’ve watched it in my individual clients. They feel solid; they feel secure; and they no longer feel like they’re looking over their shoulder.
After you have a basic understanding of how law protects your business—and the ways in which you need that protection (my mind map can help you do that)—you can start to ask the really fun and strategic question: What can law do for your business?
(I know I’m moving along at a swift clip here, but I want to give you the big picture. We’ll talk details in later blog posts and the resources I’m creating for you.)
What Can Law Do for Your Business?
This is the piece that gets me really jazzed up. Law can help you make your business what you want it to be, if you ask: How can law support my business? How can law grow my business?
The right business entity—paired with a killer business model—gives your business Structure. All creativity needs structure. It needs a container to live and blossom and give it shape. The right business entity gives that to your business.
Contracting and using your creative work, that’s really where the juice is. That’s what info products and licensing programs are doing—leveraging creative work to grow your business. The legal tools of trademark, copyright and contract allow you to do that. Which is why it’s important to have those foundational pieces in place.
Agreements provide clarity and structure to you relationships. They also expand your business’s reach.
So you can see that law takes care of the Creativity, Structure and Relationships in your business in a pretty compelling way.
In the comments below, tell me the biggest insight you gained about how law can protect and grow your business.
Identify what you need to know about law for your business with my Free Mind Map.
And if this post helped you, hit the like or tweet button—it’s sure to also help your friends and clients.
Looking to change your business to better suit your life? Rebecca Prien also provides business coaching and business model design services through Ompreneur | The Yoga of Entrepreneurship.