There are few opportunities to start a business that puts as low of a barrier to entry in front of them as an online business. Without needing any additional space and just your computer, you can start, run, and grow an online business to six figures or more all without requiring a massive upfront capital investment. But running any business, including an online business, requires you to follow the rules and regulations governing the operation of business. Here are a few tips to help you stay within the boundaries of the law when running an online business.
Be Mindful of Intellectual Property
The first tip that is going to help you stay within the law when running an online business is to be mindful of intellectual property. When you are looking to start a business, you have to make sure you aren’t selling a product that isn’t protected by intellectual property rights. This includes things like trademarks, patents, and copyrights. Otherwise, you could be hit with a cease and desist notice from the lawyers of other companies whose rights you infringe upon. Do your research to make sure that you and your business aren’t crossing intellectual property boundaries.
Another crucial step to take to stay within the law when running an online business is to follow the rules and regulations regarding your products. You need to make sure that any product you sell follows regulations for marketing and safety. For instance, if you are selling a supplement or health product, you need to be careful not to make claims that aren’t true. The FDA will take action if you claim your products treat or cure a disease. Check the rules regarding your types of products and follow them to avoid legal trouble.
Protect Your Liability
The next way to stay within the law when running an online business is how you can protect your liability. Both financially and legally, you can be found responsible for financial liability for debt and injuries at or resulting from your business operations. Registering as an LLC is a good first step to protect your personal assets from business liabilities, and to take out a quality business insurance policy. Together these should keep you covered from most liability issues.
Running an online business can be difficult. This is especially true if you don’t have experience with the regulations. Consider these three tips to make sure that your business remains within the boundaries of the law.
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As always, if you need any assistance with your branding and digital marketing, our MGR Team will be happy to chat with you one-on-one. Use this link to contact us and set up your free consultation.
Thank you for reading. Until next time, this is Manuel Gil del Real (MGR