16 Apr 2019
Welcome to Part 2 of How to Start a Logo Designing Business article series. In this article, we will be covering some of the broad legal issues that you may have to tackle while starting or running your business. They may seem daunting but are important to tackle.
When starting your logo designing business you have to first decide the name of your business. You cannot use any name because that may be copyright infringement and can land you in trouble. You have to verify the details and ensure that you are not building the business identity that does not belong to you.
Before you start your operations, you have to ensure that you are not violating the local laws. There are many restrictions in place based on the location of your operations that prohibits certain types of business activity. You have to ensure that your business is not in violation of those laws. Also, you should procure all the license and permit to conduct your logo designing business.
Choosing a business structure is important. You may want to run a one person company or you may want to start the business as a partnership. You may have the desire to get funding and go public in the future to raise money. Considering your scenario, you have to zero down to the most feasible business structure.
Since you will be running your business and selling your logo designing services, you will be required to ensure that you are maintaining records and other documentation for compliance purposes. Depending on your business structure and offering, compliance may vary a lot. Moreover, it will be your duty that your business is in compliance with all the laws that might apply to you. Compliance is good but non-compliance will attract strong punishment.
Since you will be providing services you need to set the expectations for your clients. You also need to make everything clear about the number of revisions that your clients can ask for. You
Lawsuits are unavoidable so you have to be ready for them. Clients can get creative if they are annoyed and determined to sue you for any reason. You need to have a proper action plan in case of scenarios where you have to face lawsuits.
Personal Asset Protection
As a business owner, you have to keep your assets safe from any kind of litigation. So you should have your accounts & assets separate for private and personal use. Even in the situations when creditors will have to knock your doors, your personal assets will be safe.
So far we have covered the basic legal aspects that you, as a new entrepreneur, need to take care of. We will be talking more about other aspects of the Logo Designing business in the next part.
Stay tuned for more articles on How to Start a Logo Designing Business series.
Also, check out our another series on How to start your Instagram store? |(Part-1)
Disclaimer: This article is not legal advice. Please consult an authorized registered law practitioner. We are not liable for any consequence of any action taken by you relying on the material information provided in this article. This piece of content is for education purpose only.