Legal Survival Guide

Lesson 6 of 27

Domain Name and Operating Agreement

 

Legal Survival Guide

Lesson 6 of 27

Domain Name and Operating Agreement

 

Lesson Info

Domain Name and Operating Agreement

Okay, we did our trademark search we look teo to see if if um we had any service marks that were registered now you gotta buy your domain name now everybody understands you have to buy your domain name and what does that mean? So we go teo I mean I don't don't judge me debbie debbie debbie don't go daddy dot com let's see if blue steel photography what do we want to be de be de be blue steel photo or photography what you want to be? I think blue still photography uh blue steel photo the audience has spoken I stay put. Yeah, let's vote we have five people here who wants blue steel photography quickly. Who wants blue steel photo okay convinced me still photo? I'm sure tamara lackey or a marketing guru or somebody will tell me a phone wrong let's see if it's available tom it's available so for twelve, ninety nine I can own that puppy let's buy it! I just want to buy the domain I don't need any privacy protection I don't want any add ons I don't want any dot coz I don't want any feel like ...

hell I don't know what that isthe I just want the domain I don't want photo dot us I just want to check out and pay my twelve ninety nine right that's all I want to dio I don't want any email I don't I don't want any of that they try and sell you a lot of stuff don't they jim really dio maybe that's different with one of the now they got me it's a twenty eight dollars I don't want seat now they've upgraded me to two years did I ask for two years no doria I did not there's a little tax for the I can I'm gonna log in you'll get the picture how to register a website let's we we won't necessarily take the time to do that but obviously you pay him and now I own blue steel and you can take that and you can redirect your your d s n server two whatever web host that you want etcetera now let's talk about back here on the powerpoint professional help at this point in time we need to have an idea we're going to have a relationship with a lawyer yes somebody that'll take your phone call we're gonna have a relationship with an accountant yes maybe attacks repair are we gonna have employees maybe wantto farm out payroll because it's a pain but we need to have a web designer let me tell you some real life course stories in springfield, missouri right now there's this concept of copyright in copyright a website and copyright a web template and if you don't own your web template, you got a problem what if you fall out with your web designer and they decide they hate you and they're going to take your website down because they own the template and all of a sudden your search engine optimization key words that were running on that website or gone you've got a problem so at this point in your business formation you need to seriously think about how you're hosting your website are you hosting it on your own sites like if you have go daddy, you could move that website to your go daddy server and whatever's on there you own it you can go buy a template from someone else and then you own it you could have somebody else managed that template for you on do all your updates but you own the code that makes the website if you license the website from somebody else, for instance let's think about this and I'll talk about this later in the presentation what kind of computers do adobe what kind of computers does adobe make? None they don't what do they sell right? So think about that you license that software from adobe you don't buy anything you license it from them so if your licensing your website from someone else, what do you own nothing so if you fall out of grace is with your web designer, what do you have left? Nothing, so be be thoughtful about that again, hiring a local professional and a professional ceo company is super important with the provide so that you should always own your template and always own ear content. So we have now created the company. We've gotten our articles of organization back. Remember articles of organization that we looked at on the screen. Congratulations. You have just birthed your company without the pains of labor and your company exists. Now it is. For all legal purposes, blue steel photography is now a separate legal entity in missouri. It can sue. It could be sued. You can enter into a lease, it can hire an employee. It can generate income, it can pay taxes. It could do just about anything except clean your house. But it could imply a hire. Employees that would go out and clean your house. And then it would be in the house cleaning business. So blue steel photography is now separate legal entity. Now we need to prepare the operating agreement and get a federal employer identification. Now we might have to hold off on doing the operating agreement until oh, wait, I have a disc here. I have a disc your jim how are we doing question why I'm going to step over here and pull something out of this computer do you have any questions are sure do are there any drawbacks to the llc as opposed to a sole proprietorship? Well, some would say maybe it's not as much fun, you know, so proprietors of fun no, I don't think there are any drawbacks other than um you know, you do have to jump through the hoops and pay your fifty bucks uh you you do have to have an operating agreement but after you do what we're going to do today you're done check it's not it's fire and forget once you've done these things if it's a perpetual company it's done, you don't have to go back and do anything else to it um it all shows up on your tax return if you're a single member llc so I can't think of any drawbacks that I can think of and that's great because there's so many positives um so I'm excited about it everybody should should have one or have the ability to get one sorry if I stepped off camera um I have the ability to get one piece of cake uh so now we have to have this operating agreement now what's the operating agreement it's less important for a single member llc but of critical importance for a multi member llc remember I said that the only ship does not sail is a partnership the llc is kind of like um a partnership agreement it says how we're going to do business with one another and if we have to split the sheets using divorce parlance it's how we're gonna divide up our assets okay and if you don't have an operating agreement every single state in the country has a fallback limited liability company code it's kind of a fallback provision that if you don't have an operating agreement these are the rules that apply were rather than the government telling me what's good for me because I found out a long time ago that the government doesn't always know what's best for me you can take the time to have a limited ah uh operating agreement and uh get that worked out from the start I'm going to come over here to the finder somewhere on here there's a little thing called my uh how do I find my like the c drive the disk drive on here. Oh, wait look at this. It popped up over here it knows what I need. Those folks in cupertino anticipate my needs so well I'm clicking on the disc clicking on the disc there it isthe now the only thing I have tio let's see form files look at that see if there's something on here called on operating agreement uh llc operating agreement I'm clicking on it microsoft word for mac hopefully it has microsoft oh this is gonna work beautifully mallory you're smiling you're excited about it too we're going to make an operating agreement yes we're gonna go out have a few beers alright not slow enough so the operating agreement it helps to have a template extracted by a lawyer okay so I've already done one I've got a little forms disk that if you guys want to check out online after the show you can I'll give you a link to it to get later so don't freak out about operating your unit we're making one I've got one available so if you get this um forms disc I don't want to check for any stinging updates yeah um this is what you get when you open it up it's the operating agreement of super shooter photography now jim we're not super super shooter photography any longer are where we are blue steel photography I love it um so we'll delete this and this is a missouri loc the members who's the member every shouted out who's the member I got to see that you all know this who's remember that's right you guys can clean this up later taken out the brackets and stuff have have organized what's the name pursuant to the provision of the missouri limited liability company act and that's where you put in your own state if you did it in washington again I've highlighted the provisions that we change for other states here it says missouri so in consideration of our continents we're going to form this company missouri's this missouri act is going to govern and our name is blue steel I put a knee in there forgive me uh it's effective upon the filing the term is perpetual see how that matches the registered agent itjust acknowledges that we have one it says that we have some company property now here's our principal place of business so it shall be at such place in locations is selected by the members um you can delete this particular location if you want you could have in um and just say or at such other places as we designate it's member managed now if you had more than one person this is where we talk about who owns which portions of the company talks about an exhibit a which identifies the sole member or members do you see that this important talks about the capital account free to the members talks about winding up how we divide on dissolution how we forgive me distribute on liquidation the law that applies is love missouri we're just keeping going down here and then we sign who was the organizer remember they asked us for that online here's exhibit a peter photographer one hundred percent or pete and patricia photographer husband wife that's one unit one hundred percent or peter photographer and paul partner and you can vary the percentages everybody get that. So here this is going to be a sole member single member llc who owns it all say lam proud krieg creating oh my goodness am I really done one question about that? Um say you were going into business together with your wife, you were saying that you and your wife are treated as one entity by an l l c is this a point where you might want to break that up into two members just in case statistics show that that might not that partnership might not last tomorrow we're going to talk that she'll she'll get it most states would look to your interest in the company and divided up upon divorce, so you're not going to really do a lot of divorce planning by doing it that way. We'll talk tomorrow about protecting your assets from the claims of creditors and the magic most inexpensive, cheapest way teo do mayhem in the world individually and make sure that nobody can take your stuff is to get married and put everything in the right you were at your and your wifes name as husband and wife it's generally untouchable, so by putting the llc in the name of you and your husband and wife if you incurred liability, let's used arias horrible drunk driving accident where little timmy got killed and she owns with her husband the share of the llc they could never take her distributions from the llc because those distributions come out to the husband and wife team if it said doria and aria are you married what's your husband's name he's keith they could get a charging order against the company and as the company paid out money to doria and keith they could take half of it but by her owning the company doria and keith husband and wife which is a one unit thing as the money flowed out of the loc nobody'd ever be able to touch it in missouri it's your question divorce planning it's all up for grabs so question keeper couple questions up here craig if you don't mind when people are re watching this and they watch how you modified this document is that is it as easy as that that's the first question and how does one get a hold of the document like this? Yes it's a z z is that stay tuned okay perfect so what do we decide bobby? We want to do husband in life I could put it in my wife's name let's do that she'll be happy with me I love my wife see that delete this stuff I'm literally done I'm gonna come up here file print I'm printing to dexter office somebody bring me that when it's done and as my six year old says boo all right so back to the powerpoint thanks mark um what else do we need so we've done the operating agreement right if you want one uh you can hop online it craig heidemann dot com I've got a cd of twenty five forms and documents comes in a cute little cd case like this it's got a little note on there and opens up and then it's got the cd of forms in there they're all microsoft word forms completely customizable not pdf or anything like that you can use them for any personal purposes that you want to resell them um but it will make your business super duper easy it's streamlined it goes it goes fast it's got the operating agreement on it for missouri which you can customize to use in other states but again if you do in another state I would recommend you walk into your lawyer's office to say hey I've taken the liberty of doing an operating agreement I think all of the work is done can you just review it for me we'll charge you fifty or a hundred bucks and send you on your way bless it say grace over it life's good if you want to use it in missouri you're in good shape and if someone were happened to purchase this course might have formed like that available uh we do have on the bonus material I've included the long form model release from this disk on the bonus material. Perfect, because that would give you a little taste. Thank you. I'm doing a special for my creative life family, one hundred twenty bucks regularly, but if you buy it after watching the show, it's on, available online for eighty nine dollars, and again that's it. Craig heidemann with two ends, not one, and do they need any kind of a discount code? So cool? I just feel the love nice through the internet.

Class Description

Ready to turn your creative side project into a thriving business? Join Craig Heidemann for an introduction to the business and accounting principles every creative professional needs to know. 


In this class, Craig will take you step-by-step through the process of setting up, running, and growing a small business. You’ll learn how to use QuickBooks to manage your finances, including managing client contracts and invoices. Craig will also help you navigate the potentially-confusing tax, legal, and copyright issues surrounding small businesses. You’ll also learn how to contract and/or hire people to do the tasks you can’t do yourself. 

Whether you’re just starting out as a business owner or you’re a longtime entrepreneur ready for a refresher course, this course will give you a roadmap to business success.

Reviews

a Creativelive Student
 

Excellent course and subject topic. Mr. Heidermann is a great teacher! Wonderful explanation, clear and concise details, humorous delivery, he kept me engaged the entire time. I truly had fun watching and learning during this course.

a Creativelive Student
 

I'm literally fresh off the boat, as the saying goes, having moved back to the US after decades of living abroad. I have the photography down (in some measure due to the instructors and courses here at CL), but being new to the business of photography in this environment I was rudderless. This course helped answer all my initial questions and put me on the way to getting established in my region... and beyond! Craig makes legal issues almost fun with his jocular, engaging style. Thanks so much to Chase and the people at CL for knowing what courses real working photographers need.

Andrew V Gonzales
 

This class is amazing (as is the Instructor). Funny, real, and to the point, Craig has a great way of making these aspects of business MUCH less intimidating. Still very applicable even in 2016. Loved it!