Protect Your Business and Personal Assets with Internet Law Attorney Lin Eleoff-EP043

‘The waters of the internet are infested with sharks!’   By virtue of having a website, online solopreneurs are vulnerable to lawsuits and scammers. Many of us stick our heads in the sand and hope it will never happen to us, but there are a number of protections we can put in place to minimize the risk. Today’s guest is prepared to arm you with the information you need to navigate those shark-infested waters and understand the fundamental legal aspects of online business ownership.   Internet business lawyer Lin Eleoff is the founder of Cover Your Assets Online, a service that teaches solopreneurs to cover their ‘assets’ without having to spend an arm and a leg on legal fees. She offers a DIY Legal Toolkit that allows online entrepreneurs to prepare key documents themselves, as well as done-for-you services and consulting.   Lin never wanted to be one of those ‘billable hours’ attorneys in the corner office; she was looking for a new way to practice law. She saw a huge need in the area of internet law for entrepreneurs, so she became an entrepreneur herself and created an online coaching venture to empower business owners with crucial legal information. Today she shares the common mistakes made by online solopreneurs, the legal documents you can prepare on your own, and her best legal advice for online business owners. Listen and learn why scammers target small business owners and how to protect yourself from a lawsuit!   Key Takeaways The legal fundamentals of online business ownership Being sued is stressful, even if you win Having a website automatically makes you vulnerable Must protect yourself from liability and minimize risk   The common legal mistakes made by online business owners Lack three key documents – privacy policy, terms, and conditions, disclaimer Use of unauthorized images   Legal documents you can prepare yourself Privacy policy, terms, and conditions, disclaimer Copyright registration Legwork for contracts and trademark prep (have lawyer finalize)   How much it might cost to put legal protections in place Lin’s DIY Toolkit – $597 Attorney’s hourly fee between $400-$600 Much more expensive to secure lawyer for lawsuit   Why scammers target small business owners Looking for people who are exposed, less informed Online solopreneurs less likely to have lawyer   Lin’s best legal advice for online business owners Establish an LLC or S corp. Separate your personal and business assets   How to approach legal aspects of online business ownership Depends on personal preference If comfortable, can do much yourself Procure attorney for complex issues Educate yourself to work with lawyer   Resources DIY Legal Toolkit   Connect with Lin Eleoff Website