The document provides an overview of business considerations for creative professionals, including developing a business plan, formalizing as a business entity, financial and tax obligations, legal protections like contracts and releases, strategies for growth like financing and collaborations, and resources for small businesses. It emphasizes the importance of treating creative work as a legitimate business through proper paperwork, accounting, and compliance with regulations. The presentation aims to help creative individuals successfully manage both the artistic and business aspects of their work.
Basic business advice for those converting part time gigs into "real" business ventures. Slides are a little wordier than usual; the Podcamp Philly Version will be a little more streamlined.
This is a BDC presentation and not StartMeUp Ryerson.
The BDC promotes entrepreneurship by providing highly tailored financing, venture capital and consulting services to help companies continue with operations and to promote their success.
Basic business advice for those converting part time gigs into "real" business ventures. Slides are a little wordier than usual; the Podcamp Philly Version will be a little more streamlined.
This is a BDC presentation and not StartMeUp Ryerson.
The BDC promotes entrepreneurship by providing highly tailored financing, venture capital and consulting services to help companies continue with operations and to promote their success.
This presentation covers a number of issues relevant to starting and running a business, including:
* Starting a business: What you need to know
* Ownership structures: Pros/Cons of each
* Business plan: Your roadmap to success
* Financing your business
* Building a relationship with your bank
* Why businesses fail
Speaker: Ms Veni Iozzo, Vice President, CML Business Development, CIBC
More information: http://www.marsdd.com/Events/Event-Calendar/Ent101/2007/mechanics-business-20071212.html
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Publiée sur slideshare pour pouvoir être intégrée à l'article http://startupeers.co/y-combinator-startup-class-15-how-to-manage/
This lecture outlines the legal and tax considerations of starting a business, including how to register and structure your business. You are introduced to the importance of understanding the entire “ecosystem” of your business, including distribution partners, industry contacts, lawyers and human resource specialists.
Are you thinking of starting your own business? Do you have an idea that you want to turn into a reality? Do you want to be your own boss?
If so, then the Business Start Up Boot Camp is for you! It will cover the initial building blocks of setting up a successful business and will provide support, advice, resources, guidance and mentoring to help you create a commercially viable venture.
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Walter Abbott, Director of the SCORE DC Speaker Bureau, gives entrepreneurs tips on how to start their business at the Washington, DC Economic Partnership's Entrepreneur Road Map seminar (1/15/14).
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Matthew is a co-founder, with Christian Jakenfelds and Nick Wheeler, of @StudentUpstarts. Student Upstarts invests up to £15,000 in exchange for up to 8% into student and graduate teams to start and run their own business. Matthew and Christian also co-founded @UpstartsConnect - a co-working space in Kings Cross, London, and Matthew is a co-founder of @9others - a global network solving the problems of business that keep entrepreneurs up at night - all over a good meal with 9others.
Human Capital: Building high performance teams for your start-up's successMaRS Discovery District
Every start-up encounters speed bumps on the highway of growth. It's the people on your team who will enable your company to power through them. Skills and capabilities must evolve as you grow. You'll need to navigate advisory and other boards, recruit well and have effective team communication and a CEO who sets the stage for the company culture – all just to set you up for that early-stage VC funding.
Lance Laking, an experienced successful entrepreneur, talks about how to successfully drive this off-road path.
Part of the CIBC Presents Entrepreneurship 101 lecture series: http://www.marsdd.com/events/details.html?uuid=fb57c3a5-7e11-4bb6-b8b6-6276e0ec27c3
This presentation covers a number of issues relevant to starting and running a business, including:
* Starting a business: What you need to know
* Ownership structures: Pros/Cons of each
* Business plan: Your roadmap to success
* Financing your business
* Building a relationship with your bank
* Why businesses fail
Speaker: Ms Veni Iozzo, Vice President, CML Business Development, CIBC
More information: http://www.marsdd.com/Events/Event-Calendar/Ent101/2007/mechanics-business-20071212.html
Y Combinator Startup Class #18 : Legal and accounting basics for startupsFabien Grenet
Slide utilisé dans le cours n°18 de la Y Combinator Startup Class de Standford (http://startupclass.samaltman.com/) donné par Ben Horowitz
Publiée sur slideshare pour pouvoir être intégrée à l'article http://startupeers.co/y-combinator-startup-class-15-how-to-manage/
This lecture outlines the legal and tax considerations of starting a business, including how to register and structure your business. You are introduced to the importance of understanding the entire “ecosystem” of your business, including distribution partners, industry contacts, lawyers and human resource specialists.
Are you thinking of starting your own business? Do you have an idea that you want to turn into a reality? Do you want to be your own boss?
If so, then the Business Start Up Boot Camp is for you! It will cover the initial building blocks of setting up a successful business and will provide support, advice, resources, guidance and mentoring to help you create a commercially viable venture.
Starting a business as engineers: algorithms aren't everythingAlja Isakovic
What are startups and other lessons learned from starting tech companies. The slides are for a lecture aimed at computer science students, delivered in March 2019.
Walter Abbott, Director of the SCORE DC Speaker Bureau, gives entrepreneurs tips on how to start their business at the Washington, DC Economic Partnership's Entrepreneur Road Map seminar (1/15/14).
Starting a business is hard, especially when you're a student or recent graduate. This webinar will guide you through those early stages of starting a startup, getting early traction and attracting investment. In 2014 there is a huge amount of optimism for startups and technology with a greater amount of investment and support available than in recent years but this does not mean it is easy! This webinar will equip you with the knowledge, skills and network to be able to startup and seek the first investment necessary for your business.
Matthew is a co-founder, with Christian Jakenfelds and Nick Wheeler, of @StudentUpstarts. Student Upstarts invests up to £15,000 in exchange for up to 8% into student and graduate teams to start and run their own business. Matthew and Christian also co-founded @UpstartsConnect - a co-working space in Kings Cross, London, and Matthew is a co-founder of @9others - a global network solving the problems of business that keep entrepreneurs up at night - all over a good meal with 9others.
Human Capital: Building high performance teams for your start-up's successMaRS Discovery District
Every start-up encounters speed bumps on the highway of growth. It's the people on your team who will enable your company to power through them. Skills and capabilities must evolve as you grow. You'll need to navigate advisory and other boards, recruit well and have effective team communication and a CEO who sets the stage for the company culture – all just to set you up for that early-stage VC funding.
Lance Laking, an experienced successful entrepreneur, talks about how to successfully drive this off-road path.
Part of the CIBC Presents Entrepreneurship 101 lecture series: http://www.marsdd.com/events/details.html?uuid=fb57c3a5-7e11-4bb6-b8b6-6276e0ec27c3
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Topics covered were:
- How to protect your business and assets?
- Avoiding intellectual property mistakes.
- Really knowing your numbers; and
- Business growth fundamentals.
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Victims of crime have a range of rights designed to ensure their protection, support, and participation in the justice system. These rights include the right to be treated with dignity and respect, the right to be informed about the progress of their case, and the right to be heard during legal proceedings. Victims are entitled to protection from intimidation and harm, access to support services such as counseling and medical care, and the right to restitution from the offender. Additionally, many jurisdictions provide victims with the right to participate in parole hearings and the right to privacy to protect their personal information from public disclosure. These rights aim to acknowledge the impact of crime on victims and to provide them with the necessary resources and involvement in the judicial process.
Military Commissions details LtCol Thomas Jasper as Detailed Defense CounselThomas (Tom) Jasper
Military Commissions Trial Judiciary, Guantanamo Bay, Cuba. Notice of the Chief Defense Counsel's detailing of LtCol Thomas F. Jasper, Jr. USMC, as Detailed Defense Counsel for Abd Al Hadi Al-Iraqi on 6 August 2014 in the case of United States v. Hadi al Iraqi (10026)
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Introduction-
The process of register multi-state cooperative society in India is governed by the Multi-State Co-operative Societies Act, 2002. This process requires the office bearers to undertake several crucial responsibilities to ensure compliance with legal and regulatory frameworks. The key office bearers typically include the President, Secretary, and Treasurer, along with other elected members of the managing committee. Their responsibilities encompass administrative, legal, and financial duties essential for the successful registration and operation of the society.
In 2020, the Ministry of Home Affairs established a committee led by Prof. (Dr.) Ranbir Singh, former Vice Chancellor of National Law University (NLU), Delhi. This committee was tasked with reviewing the three codes of criminal law. The primary objective of the committee was to propose comprehensive reforms to the country’s criminal laws in a manner that is both principled and effective.
The committee’s focus was on ensuring the safety and security of individuals, communities, and the nation as a whole. Throughout its deliberations, the committee aimed to uphold constitutional values such as justice, dignity, and the intrinsic value of each individual. Their goal was to recommend amendments to the criminal laws that align with these values and priorities.
Subsequently, in February, the committee successfully submitted its recommendations regarding amendments to the criminal law. These recommendations are intended to serve as a foundation for enhancing the current legal framework, promoting safety and security, and upholding the constitutional principles of justice, dignity, and the inherent worth of every individual.
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Precedent, or stare decisis, is a cornerstone of common law systems where past judicial decisions guide future cases, ensuring consistency and predictability in the legal system. Binding precedents from higher courts must be followed by lower courts, while persuasive precedents may influence but are not obligatory. This principle promotes fairness and efficiency, allowing for the evolution of the law as higher courts can overrule outdated decisions. Despite criticisms of rigidity and complexity, precedent ensures similar cases are treated alike, balancing stability with flexibility in judicial decision-making.
How to Obtain Permanent Residency in the NetherlandsBridgeWest.eu
You can rely on our assistance if you are ready to apply for permanent residency. Find out more at: https://immigration-netherlands.com/obtain-a-permanent-residence-permit-in-the-netherlands/.
WINDING UP of COMPANY, Modes of DissolutionKHURRAMWALI
Winding up, also known as liquidation, refers to the legal and financial process of dissolving a company. It involves ceasing operations, selling assets, settling debts, and ultimately removing the company from the official business registry.
Here's a breakdown of the key aspects of winding up:
Reasons for Winding Up:
Insolvency: This is the most common reason, where the company cannot pay its debts. Creditors may initiate a compulsory winding up to recover their dues.
Voluntary Closure: The owners may decide to close the company due to reasons like reaching business goals, facing losses, or merging with another company.
Deadlock: If shareholders or directors cannot agree on how to run the company, a court may order a winding up.
Types of Winding Up:
Voluntary Winding Up: This is initiated by the company's shareholders through a resolution passed by a majority vote. There are two main types:
Members' Voluntary Winding Up: The company is solvent (has enough assets to pay off its debts) and shareholders will receive any remaining assets after debts are settled.
Creditors' Voluntary Winding Up: The company is insolvent and creditors will be prioritized in receiving payment from the sale of assets.
Compulsory Winding Up: This is initiated by a court order, typically at the request of creditors, government agencies, or even by the company itself if it's insolvent.
Process of Winding Up:
Appointment of Liquidator: A qualified professional is appointed to oversee the winding-up process. They are responsible for selling assets, paying off debts, and distributing any remaining funds.
Cease Trading: The company stops its regular business operations.
Notification of Creditors: Creditors are informed about the winding up and invited to submit their claims.
Sale of Assets: The company's assets are sold to generate cash to pay off creditors.
Payment of Debts: Creditors are paid according to a set order of priority, with secured creditors receiving payment before unsecured creditors.
Distribution to Shareholders: If there are any remaining funds after all debts are settled, they are distributed to shareholders according to their ownership stake.
Dissolution: Once all claims are settled and distributions made, the company is officially dissolved and removed from the business register.
Impact of Winding Up:
Employees: Employees will likely lose their jobs during the winding-up process.
Creditors: Creditors may not recover their debts in full, especially if the company is insolvent.
Shareholders: Shareholders may not receive any payout if the company's debts exceed its assets.
Winding up is a complex legal and financial process that can have significant consequences for all parties involved. It's important to seek professional legal and financial advice when considering winding up a company.
1. Small Business Development
for Creative-Types
Growing your creative business
Presenter:
Miriam Robeson, Attorney
September 5, 2017
2. Making Your Art Work For You
● Business Plans
● Business Formalities
● Business Accounting
● Tax and your business
● Legal considerations
● Small Business Development
● Creative Cooperatives
What We Will Discuss...
3. Why Be a Business?
● It will help you make money
● It will help you focus
● It will help you comply with legal and tax regulations
● It will give you more credibility
● It will show you weaknesses in your business
Five Reasons to “Step Up” the
Business Side of Your Art
4. When Should You ‘Become’ a Business?
●Desire and Determination
◦ You enjoy your art and can spend all day (every day)
developing products and skills
◦ You are willing to treat your art activities “like a business.”
●Dollars and Sense (Cents)
◦ You can create enough art (and sell at a price) to support
yourself (and family)
◦ You can sell your art for more than it costs (time and supplies
– including a fair value for your time)
●Art Takes Over
◦ You spend all your time in search of “more-- better--bigger”
ways to create and display your art
◦ You find public venues for your art (display and sell)
When Can You Quit Your “Day Job?”
5. Getting Started
● Trial Run, Ease In, or Dive In?
● 50% of Small Biz fail in the first 5
years.
● Are you ready to be both Art and
Business?
Start-up Basics
Top 10 Start-up Steps
Top 7 Reasons Why Poor Businesses Fail
7. Business Plan
◦ The important elements of
◦ your business plan
⚫Vision Statement (Who You Are)
⚫The Players (Customers)
⚫Business Concept (What’s the Point?)
⚫Finances and feasibility (What does it cost to get where I
want to go?)
⚫Success Matrix (How will you know when you have arrived?)
What is it, and why do I need one?
Why should Artists have a business plan?
8. Business Plan
● You need a Business Plan if...
◦ You are running a business (not a hobby)
◦ You are applying for a loan (lenders require it)
◦ You are looking for investors (investors want it)
◦ You are working with partners (so everyone
knows the plan)
◦ If you run into trouble (legal, financial, etc.)
Why do I need one?
Top 10 Business Plan Tips
10. Business Formalities
● Protect yourself and your business
◦ Business Entity (Corp, LLC, formal partnership)
◦ Tax ID number (NOT your SS#!!)
◦ State and Federal paperwork
⚫Existence, taxes, creative protection
◦ Business Relationships Paperwork
⚫Contracts for lease of space, use of equipment, display
of art (gallery space), sub- contracted work
Paperwork = Credibility
11. Business Formalities
● Sole Proprietor – Easiest entity - least protection
● Corporation – Formal entity - greatest protection
● Limited Liability Company (LLC) - greatest
flexibility
● Consult a professional!
What Kind of Business Are You?
13. Small Business Finances
●Keep business income and expenses
separate from personal
◦ Separate checking, credit card account
◦ Separate vendor / customer accounts
●Keep stuff!
◦ Receipts, invoices, contracts (scanner is OK)
●Computer Bookkeeping program
◦ Mint - Quicken – Quickbooks – Excel Spreadsheet
◦ Enter ALL income and expenses
Tracking the $$
14. Small Business and Taxes
●Type of business formality determines
tax return
● Things you can deduct
◦ Supplies (creative and administrative)
◦ Insurance (business and health)
● Things you can’t deduct
◦ Personal / Living expenses
● Watch Hobby Loss Rules!
◦ More than three years of loss - the IRS calls you a “hobby,” and
you cannot deduct expenses!
Protecting your business
15. Small Business Taxes
● Sales Tax Paid to the State– what is it,
when do you collect?
◦ 7% - more than 30 days - “in the business of”
● Sales Tax You Pay for Purchases –
what’s exempt? – “Direct production of”
● Employment Tax – when do you have
“employees”?
● Income Tax – Estimated Payments
required
◦ 110% of current income tax obligation
◦ 100% of previous year’s tax obligation
Taxes You Pay - Taxes You Collect
16. Small Business Taxes
● Home Office/Studio – dedicated space
● Utilities (heat, light, phone) – pro-rata share
● Insurance – business insurance, pro-rata
share of casualty insurance on home
● Automobile – travel to/from events, exhibits
◦ 2017 IRS Mileage Rate = 53.5¢ per mile *or* actual
expenses
◦ Meals and Entertainment – 50% rule for meals
- actual costs for lodging, travel
● Art Supplies and Equipment
◦ “Consumables” = immediately deductible
◦ Equipment with useful life = depreciate
● What Do You Want to Deduct?
Deductions, Deductions, We Love Deductions!
17. Small Business Tax Traps
●State Tax Traps
◦ Failing to file sales tax returns
◦ Failing to file employment tax returns
◦ Failing to file Secretary of State
documents
●What to do if you have trouble
◦ Memory Devices
◦ Hire a professional
The IRS is watching you...
Remember:
Keep records!
Top 10 Audit Triggers
18. Small Business LAW
● Personal Risks
◦ Personal assets at risk from business
practices
⚫Financial Issues
⚫Liability Issues
● Business Risks
◦ What is your business worth?
◦ Protect your business reputation
● Work Product – See Intellectual Property
Legal Risks
19. When You Don’t Own What you
Create: Work For Hire
● “Work For Hire” is owned by the hiring
agent under three conditions:
◦ (1) Meet “Commissioned Works” definition in
the law:
⚫Contribution to a larger work, such as a magazine
⚫A part of a motion picture or audiovisual work
⚫A compilation of existing works
⚫Instructional texts or graphic works
⚫A translation of an existing work
⚫A test
⚫Answers for a test
⚫Supplementary works, such as a graph for a book
⚫An atlas
Sample Work for Hire Agreement
20. ● Work For Hire belongs entirely to hiring
agent IF:
◦ (2) If the creator is an employee and the work
was created on company time or with company
resources;
◦ (3) If the creator specifically relinquishes all rights
prior to commencement of work.
Sample License Agreement
When You Don’t Own What you
Create: Work For Hire (con’t)
21. Contracts: Protecting Your Work
●Contracts = Professional = Credibility =
Protection of the relationship
●Contracts set expectations
◦ What – When - Where – How Much
◦ Rights – Responsibilities
◦ Timeline for payment and performance
◦ Ownership of work product
● Contracts help manage conflict
● Always have a contract
● Always start with YOUR contract
22. Releases – Use of private likeness
● Types of Releases
◦ Model Release
◦ Minor Release
◦ Property Release
● When do you need a release?
◦ If the subject is recognizable
◦ If the subject is used for commercial
purposes
Sample Model Release
When you want to use someone else’s image
23. Releases – When Not Needed
● Public Places
◦ Images taken from the street of publically
visible property
◦ Public buildings (visible to the public,
located in public)
● When is a release not needed?
◦ Educational purposes
◦ Editorial illustration
◦ Non-commercial purposes
25. Small Business Development
● Financing growth
● Know why you need $$$
◦ Investors - want to see profit
◦ Patrons - want to see your art
◦ Business (loans) - want $$ + interest
●What is your time worth?
◦ When is it worth hiring it done?
◦ Administrative details
◦ Gal/Guy “Friday”
◦ Share administration with a partner
◦ (artist or business)
Planning to Grow Your Small Business
26. Small Business Practices
● 8 things you must do when selling a piece
of art
● 10 Principles of Success for Artists
● Top 10 Tips to Grow Your Art Business
28. Creative Cooperatives
● Sharing a business - increase profitability
◦ Like Kind of Art
◦ Compatible Kind of Art
◦ Diverse Kind of Art
◦ Mixing Art and “Other”
● Investment Limits – when is enough too
much?
Art Teams that Succeed
29. Creative Cooperatives
● Tips For Partners
◦ Discuss expectations - then write them down
◦ Written agreement for sharing costs and income
⚫Sharing store space, studio space, equipment
⚫Sharing costs and sharing time
⚫What happens if it doesn’t work out?
◦ Feeling of Fairness - MOST Important!
◦ Must be willing to spend time on the relationship
◦ Not for friends or the faint of heart!
Art Teams that Succeed
30. Employees
● Employees increase business complications
◦ Employment taxes and rules
⚫Full time and part time
⚫Over time and benefits
◦ Training Employees to read your mind
● Can you succeed without help?
◦ Employees allow you to be in two places at once
◦ Employees can be hired for business
management
◦ What is the “marginal benefit” of an employee?
Do I Need Employees? What Do I do with Them?
31. Employee or Independent
Contractor?
●Tax issues for you
●IF YOU are an independent contractor
◦You have to pay your own taxes
◦You are hired for your expertise and
product, not to put in time
●IF you HIRE an independent contractor
◦Make sure you report on IRS 1099
◦Make sure they aren’t “really” an
employee
32. How to Succeed at (Art) Business
● Make a Plan - stick with the plan
● Formalize Your Business - act like a business, not a
hobby
● Keep up with the paperwork
● Keep up with taxes (and keep receipts!)
● Watch and protect your rights
● Watch copyright issues
● Enter partnerships with eyes wide open
● Don’t forget to MAKE ART!
Plan, Work, Time, and Art
33. Resources for Small Business
● US Small Business Administration
◦ www.sba.gov
● Indiana Small Business Development Corporation
● Isbdc.org
● Google is our Friend
Finding Help for what you need
34. Thank you for your attention!
Questions? Answers?
You can find this presentation
At blog.lawlatte.com
“Law Basics for Artists”
You can find Miriam at:
MiriamRobeson@lawlatte.com