The Protecting Your Business Class with Layne Lyons
How do you go about protecting your business legally? Today’s topic is of the utmost importance because although we don’t usually think about it a lot, it’s a crucial ingredient for building and growing our freelance business with confidence. Join us as Layne Lyons shares six key ways to build a solid foundation with legal structures so you can sleep peacefully at night!
[0:49] Introduction to Layne Lyons and the topic of protecting your business legally – Layne describes her journey, how she created The Legal Umbrella and began serving entrepreneurs.
[7:48] The benefits of being mindful about protecting your business legally – how building a solid foundation using legal structures gives you confidence to grow your business.
[9:42] What happens when you’re not protected – how being sued is rare for the average entrepreneur, but drama-filled situations are inevitable. Craig and Layne discuss the importance of having a foundation that provides safeguards.
The Umbrella Method – Six Core Areas for a Freelancer or Online Service Provider to Protect
[11:40] Why it’s called “The Legal Umbrella” – how the six letters represent six areas to protect in your business. Layne explains how it’s information and education to use as you grow your business, not a substitute for legal advice.
[12:48] Four things you can do with the six areas – how it’s a rinse-and-repeat system that allows you to run and grow your current business with confidence and peace of mind.
[14:20] The Letter U: Your Unique Content – what it is and what questions you can ask yourself to audit it.
[15:26] The Letter M: Your Money – questions to ask yourself to ensure you keep the money you earn with strong legal protections. Layne explains the benefits of making sure you’re getting paid so you have the confidence to raise prices and offer a payment plan.
[19:02] The Letter B: Your Brand – what it is and what question you should ask yourself. Layne discusses the importance of trademarks and how it can be devastating to have to change a business name and branding.
[22:39] The cost of trademarks and recommendations for what services you should receive when applying for a trademark.
[26:57] The Letter R: Your Relationships – how it’s the heart of any entrepreneur’s practice and the heartbeat of your business. Layne describes the real pitfall to look out for and a framework for looking at your contract.
[31:26] The Letter E: Your E-Presence – what it is and how the scope is important. Layne explains how to ensure you’re held to the appropriate standard of care in the law’s eyes by asking yourself certain questions.
[36:46] How to put the safeguards in place if you’re a website designer who builds a website that gets hacked – what type of contract to use and what it includes regarding results and disclaimers.
[40:35] The Letters LLA: Your Love Life Attitude – how it’s your sanity and must be protected most of all. Layne stresses the importance of loving your life and being able to grow your business without fear by identifying where the legal leaks are so you can prevent drama situations.
[43:42] Recap – the importance of contracts and identifying where you’re protected and not protected.
[44:20] Where to learn more and connect with Layne
Resources and tools discussed in this episode:
Learn more about Layne Lyons:
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