Starting a Business: The Legal Basics Every Owner Should Know

Episode Summary: In this episode of the Business Law, Estate Planning and Estates Podcast, Thomas LaPorte explains the essential legal and practical steps every new business owner should take when launching a company. Drawing from more than 25 years of experience advising entrepreneurs, families, and business owners, Thomas discusses how to choose the right business structure, minimize risk, create clear partnership agreements, and develop employee policies that protect the company from future liability. He also addresses common mistakes that lead to disputes, overlooked compliance issues, and how proactive planning can prevent costly problems down the road. Key Timestamps: 00:01 – Welcome and Introduction: Getting Started on the Right Legal Footing 01:00 – Choosing the Right Legal Structure for Your Business 02:45 – Understanding Business Risks and How to Minimize Them 04:45 – Why Partnership Agreements Are Crucial in the “Honeymoon Phase” 06:15 – Common Disputes and Legal Issues in Early-Stage Businesses 08:30 – Contract Pitfalls and How to Protect Yourself 10:15 – Government Filings, Taxes, and Compliance for New Businesses 12:10 – Creating Employment Policies and Handbooks That Protect Your Company 14:00 – Legal Requirements for Leave, Benefits, and Discipline Procedures 15:30 – Commonly Overlooked Legal Details and Mandatory Harassment Policies 16:45 – Importance of Payroll Compliance and Timely Employee Payments 17:50 – Final Advice: Plan Ahead and Stay Legally Prepared About the Show: The Business Law, Estate Planning and Estates Podcast explores practical legal insights to help individuals, families, and business owners protect their assets, plan for the future, and build sustainable businesses. Hosted by Thomas LaPorte, founder of LaPorte Law Group, the series provides expert advice on business law, estate planning, and probate for clients across New Hampshire and Massachusetts.