Welcome to Kerry Carroll’s Blog
Legal education for Coaches & Creative Entrepreneurs
Grab a cup of coffee, friend. Let's bust some new business myths.
Hey there, friend! If you're reading this, it's safe to say two things. One, you're looking to dive headfirst into the rollercoaster of entrepreneurship (and gosh, what a thrilling ride it is). Two, you've heard a lot of things about starting up a business – some great, some downright scary.
Well, dear reader, it's time to slay those business myths and misconceptions that are standing between you and your entrepreneurial dreams. Because let me tell you, little nuggets of misguided wisdom can be more damaging than any hiccup on your journey to success.
So let's get the truth bombs dropping, shall we?
All 50 States: Secretary of State Sites and Business Entity Searches
Applying to register your business entity is often very straightforward. Registering can usually be completed in under an hour, depending on how complex your business is and which structure you’ve chosen for your business. For many coaches, creatives, creators, or entrepreneurs, an LLC will be the best fitting entity structure.
If you’re ready to get started, you need to visit your state’s Secretary of State website to learn the specific rules, requirements, guidelines, and fees for where you do business. To help, I’ve collected the relevant Secretary of State website for each state.
What does Scope of Practice mean for entrepreneurs, creatives, or coaches?
Are you an online business over services like coaching, consulting, or design to your clients? If so, you may have tripped across the term “scope of practice” and if you haven’t heard of it, you are going to want to get super familiar, like inside-the-fantasy-suite-on-the-Bachelor-familiar quickly. Fortunately, I’m your legal bestie and can give you the details right now.
Which Business Entity is Right for Me?
Hey there! So you’re starting a business, that’s so exciting! Or maybe you already have one? That’s even better! Bravo!
But before we go too far, did you form a business entity? Like a Sole Proprietorship, an LLC, partnership, or corporation? If you didn’t quite get to that yet. We can get you sorted out STAT.
The Force Majure Demystified
If you were in business during the pandemic, you are probably already very familiar with the Force Majure contract clause. But if, by some special blessing, it did not come up for your business in the last few years, let me explain why you want to understand it and, definitely, include it in your agreements.
In brief, it’s a legal clause that frees both parties (yay, for protecting you and your clients) from contractual obligations and duties if an extraordinary event prevents one or both of you from performing. If we want to get super technical “Force Majure” is not a doctrine in common law, meaning it is not a rule that if followed, instead it is a handy title for a common contract provision.
Entrepreneurs Guide to EIN Numbers
An EIN, or Employer Identification Number, is like your business's very own fingerprint. Just like we have Social Security Numbers (SSNs), businesses have EINs. It's a unique code that helps the IRS track your business activities, taxes, and other financial info.
Think of your EIN as a key to unlock business opportunities. You'll need it to open a business bank account, hire employees, file taxes, and even apply for business credit. It's a must-have for growing your venture.
Top 6 Legal Mistakes that Small Businesses Make
Now if we are business friends, I know that you aren’t making these legal mistakes, but if you’re new to the game or just put legal squarely on the back burner, you are going to want to look at this list and make sure you aren’t making any of these super common legal mistakes and putting your brilliant biz at unnecessary risk.
What Small Business Owners Need to Know About GDPR Compliance
One of the best things about the Internet is that literally everyone, everywhere can be your client.
That’s exciting! I love looking at my site analytics and seeing which countries light up for visitors, don’t you? But the downside to all this global interconnectedness is that rules and regulations for countries outside of your own often apply to your business.
What?! Quelle Surpise!
Yup, if clients or customers can access your business outside of your home country, you may be subject to the laws of the client’s home nation. A well-written website terms and conditions statement can certainly help, as would a solid terms and conditions of sale agreement, and a carefully written client agreement.
What to do if Someone Copies your Business or Website
Someone copying your website, or even a piece of content, is majorly distressing, to say the least. It is also harmful to your business, a huge hassle, oh and definitely illegal and a violation of copyright.
A website is your online identity, it’s your business’s primary residence - the space where you have built your brand, grown your community, and shared your ideas and offerings. It’s personal, it’s valuable, and it is your intellectual property.
How to Avoid Piercing the Corporate Veil in your LLC
You are a savvy entrepreneur and you took the time to carefully research business entities (Smart!) and choose the entity that made sense for you. Because you understood that your personal assets were at risk for paying business debts with a sole proprietorship or partnership, you took the steps to form as an LLC or maybe even as a corporation. This was super proactive and helped you sleep at night knowing that you had limited liability and your personal assets were safe.
Unfortunately, that does not mean that your personal assets are gold-plated and protected. There are situations where you could still be personally liable for business debts. In order for that to happen, you would need to be sued and the court would have to decide to “pierce the corporate veil.”
Does my Podcast Need an LLC?
Podcasting is a great equalizer. There are low barriers to entry and everyone has something to say. I love podcasts and listen to at least a few every day while walking my dog or commuting. I am so happy that so many people take the time to share their passions, interests, and knowledge publicly and for free. They are so ubiquitous that it might be surprising to learn that your podcast should absolutely have an LLC.
What?! Why does my podcast need an LLC?
If you’ve been around here long, you know that an LLC is a Limited Liability Company and that it can provide you protection by separating your personal liability from your business’s liability.