July 9, 2025 • 34 mins
Legal doesn’t have to feel scary and today’s episode proves it.
In this episode of Creative Minds Smart Money, I’m joined by attorney Taylor Tieman, founder of Legal Miga Law, for a real talk on the legal foundations every creative business owner needs. Taylor breaks down what you actually need to know about business entities, contracts, trademarks, and more minus the legalese.
Whether you’re a brand new entrepreneur or scaling fast, this episode will help you protect your business (and your peace of mind) without the overwhelm.
In this episode, we cover:
✅LLC vs. S-Corp vs. Corporation—what’s the real difference?
✅ When to form an LLC (and when it’s not worth it—yet)
✅ The top legal mistakes small business owners make
✅ Contract must-haves and what not to copy-paste
✅ How to protect your intellectual property (yes, even your logo!)
✅ When it’s okay to DIY legal—and when to hire a pro
✅ How to build legal confidence, even if the whole thing freaks you out
From paper trails to privacy policies, this is your permission slip to get legally legit without the panic. Whether you're solo or scaling, this episode will help you move smarter and feel supported.
🎧 Press play and get empowered your business is worth protecting.
Connect with Samantha:
Website: https://www.firestormfinance.com/
Instagram: https://www.instagram.com/firestormfinance/
Threads: https://www.threads.net/@firestormfinance?hl=en
LinkedIn: https://www.linkedin.com/in/samantha-e-8796b6176/
Newsletter: https://firestormfinance.myflodesk.com/ajmiv1kyt1
Connect with Taylor:
Website: https://www.legalmigalaw.com/
Instagram: https://www.instagram.com/legalmiga/
Threads: https://www.threads.net/@legalmiga
LinkedIn: https://www.linkedin.com/in/taylor-tieman-84763325/
Tiktok: https://www.tiktok.com/@legalmiga
📢 Love this episode? Share it with a friend and leave a review to help more business owners get smart about their finances.
Have a suggestion for something or someone you'd like to see on this podcast? Fill out this form here.
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Transcript
Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
samantha-eck_2_02-20-2025_120206:
Welcome to the Creative Minds Smart (00:01):
undefined
Money Podcast, where we turn financialconfusion into creative confidence.
I'm Samantha Eck, bookkeeper andfractional CFO for creative entrepreneurs.
Each week I'm sharing myfinancial expertise and actionable
strategies to help you builda thriving creative business.
Plus, you'll hear from industry expertswho bring fresh perspectives on growing
(00:23):
your business beyond the numbers.
Because building a successfulcreative business starts with
strong financial foundations.
Your next chapter starts now.
samantha-eck_1_03-25-2025_120449: You are listening to the Creative (00:34):
undefined
Minds Smart Money Podcast and todayI have special guest Taylor with me.
Taylor is the founder of LegalMIGA Law, offering accessible legal
support for small business ownersthrough the legal MIGA membership
specializing in trademark contracts,copyrights and business formation.
She helps entrepreneurs protecttheir brands and content with
(00:56):
strategic legal measures.
With a background in civil litigationand consumer protection, Taylor
is passionate about empoweringbipoc and female owned businesses.
She has founded the Legal MIGA Library,a resource hub, providing essential
legal tools for entrepreneurs, aCalifornia Super Lawyers Rising Star and
CLE Reisman Awards runner up Taylor'slicense to practice in California and
(01:18):
all US district courts in the state.
How are you today, Taylor?
It's so good to have you here.
taylor-_1_03-25-2025_100449: Thank you for having me. (01:25):
undefined
I'm a little tired.
I have a brand new baby, well, she'snot brand new, but she's, she's new.
samantha-eck_1_03-25-2025_120449: Ah, that's totally understandable. (01:33):
undefined
But before we really dive into the nittygritty of everything, I would love for
you to tell the audience a little bitabout yourself, what you do and how you
really got into the legal side of businessand why you're so passionate about it.
taylor-_1_03-25-2025_100449 (01:47):
Yeah.
So I've been a lawyer for a littleover, I think 10 years now, and I was
working in law firms for other people,for four and a half of those years, and
did a bunch of different types of law.
I. Wasn't really a hundredpercent attached to like
loving, loving what I was doing.
(02:07):
There were parts of what Iwould do that I did but I just
wasn't like super passionate.
And I always was like, who arethose people that are really
passionate about their jobs?
Like what is that like?
And just kind of through wanting tohave my own thing, like wanting to have
a very flexible schedule, planning outto potentially have kids and a family.
Started my own law firm and we'vebeen doing this for five and a half
(02:31):
years now, and, I'm able to like pickmy clients, talk to my clients like.
I still select who I wanna workwith, like hone in on exactly
who I want to be helping.
And it's not only, I mean, fulfillingfor me, but it's also really
amazing to be able to educatecommunities specifically on legal.
(02:51):
I think I came into this thinkinglike, we're just, I'm gonna, I'm
gonna be a lawyer and help peopleand do the legal stuff, but there's
so much education that's required.
Far before anybody everlike pays us anything.
So the education piece, I think wassomething I had no idea was coming,
but, it's probably my favorite part.
samantha-eck_1_03-25-2025_120449: Yeah, I love that. (03:09):
undefined
'cause I feel like.
Business owners in general justhave a lack of educational resources
when it comes to like legalfinancial matters, things like that.
taylor-_1_03-25-2025_100449 (03:18):
Yeah.
samantha-eck_1_03-25-2025_120449: there's a lot of people being like, what? (03:19):
undefined
What do I do?
taylor-_1_03-25-2025_100449 (03:22):
Yeah.
Yeah.
samantha-eck_1_03-25-2025_120449: So, let's start with the basics. (03:24):
undefined
What's really the biggest differencesbetween an LLC, an S corp, and a
corporation, and how does a businessowner know which one is right for them?
taylor-_1_03-25-2025_100449: Good question. (03:36):
undefined
And I love that you're asking thedifference s-corp too, because that
is a huge misconception a lot ofpeople have that that's a, an entity.
But it's, so I get it because peopleare always like, I have an S-corp.
I have an S-corp.
The differences are an LLC anda corporation are different
types of legal entities.
(03:57):
There's different types of corporationsthat you can have, but when you form
an entity, what most business ownersare doing, they're either forming an
LLC like 90% of the time, and then someother people are forming corporations.
They might have a specialtype of corporation.
However, when it comes to tax time, yourtax person's gonna counsel you and advise
(04:18):
you on what's best for your business.
And what's tricky is an LLC or acorporation can technically be taxed
as an S corp. So, that is advantageousto a lot of business owners.
So who are you talking to more,you're talking to your tax
people more than your attorney.
So you're usually like, oh, my S-corp.
My S-corp.
So a lot of people think they haveS-corp, but what they really have is
(04:39):
either an LLC that's taxed as an S-corp.
Or a corporation that's taxed as an Scorp. But what we're working with most
often is LLCs for business owners, unlessyou're a certain type of business that
just can't form an LLC or you don't,you can't operate under those laws.
Depends on your state,depends on what you're doing.
But most businesses can form LLCs andthey're great and they're super flexible.
(05:03):
Pretty easy to get formed to maintain.
samantha-eck_1_03-25-2025_120449: Yeah, absolutely. (05:06):
undefined
And I think, I love that youspecified that it's a classification
because I hear the same thing.
All the time people arelike, oh, I'm an S-corp.
I'm an S-corp.
taylor-_1_03-25-2025_100449 (05:15):
Yeah.
samantha-eck_1_03-25-2025_120449: I'm like, you are an S-corp, but like (05:16):
undefined
what's your, like are you an LLC?
taylor-_1_03-25-2025_100449 (05:20):
Yeah.
samantha-eck_1_03-25-2025_120449 (05:21):
And most of the time they are that, that LLC.
So
taylor-_1_03-25-2025_100449 (05:24):
Yeah.
Yeah.
And that's good to know andI'm glad you pointed that out.
'cause most business owners are like,no, I'm an S corp. And I'm like, I
know from a tax perspective you're an Scorp, but what's your like legal paper?
And usually they haven't seen thelegal paperwork in like years.
So they're like, actuallyI don't know what I am.
And then they have to go check.
samantha-eck_1_03-25-2025_120449 (05:42):
Yeah.
And then you have people whodon't even know that they are
an S-corp because they've justbeen kind of like pushed into it.
So I think that that's somethingyou definitely need, like from my
perspective, I'm like, you don'tjust talk to like one or the other,
like a CPA or a legal person.
You need to talk with
taylor-_1_03-25-2025_100449 (05:58):
Mm-hmm.
samantha-eck_1_03-25-2025_120449: out what's best for your business. (05:59):
undefined
taylor-_1_03-25-2025_100449: Yeah, definitely. (06:00):
undefined
I mean, ideally you wanna probably checkin with a lawyer like once a year and
you don't wanna have other problems.
I'm good with talking to clientsonce a year or more if they
have more stuff coming up.
But, your tax person, usually peopleare just talking to them more, so
they're like, I have an S corp.
And I'm like, no.
samantha-eck_1_03-25-2025_120449 (06:19):
Yes.
So what are some of the commonmistakes new business owners make
when setting up their business entity?
taylor-_1_03-25-2025_100449: Most common, you can certainly (06:26):
undefined
file your entity on your own.
So you can file your LLC on your own.
You can file your corporation on your own.
I would say if you are looking intoa corporation and you wanna file
it on your own, definitely I wouldat least talk to a lawyer because
they might talk you into an LLC.
It might be cheaper for you.
Some people think they needa corporation and they don't.
(06:46):
Some people actually try to form anLLC and they form it and they find out
they can't actually operate as an LLC.
So for example, certain professionallicensed individuals like therapists,
any sort of like doctors, lawyers,you commonly can't have a regular LLC.
But that's number one mistake, Ithink is picking the wrong entity.
(07:08):
Sometimes it's not catastrophic,but sometimes it means like
your entity's not valid.
Sometimes it just means youmight be in a more complex entity
that you're paying more for.
You're doing more stuff for that.
We could have you in an LLC, and it'sessentially gonna do what you need.
Other common mistake we see when peoplefile on their own is they just don't.
Draft up the internal documents.
So when you form your LLC or yourcorporation, your state's gonna let you
(07:31):
know like, Hey, you missed this document.
But the internal things that never getfiled, like the operating agreement for
an LLC, if you're forming your own LLCand you've never done it before, you
don't know what's involved, you're notgonna know that you need that probably.
So if you don't have thatinternal document, I mean,
it's not the end of the world.
We can always draft it for you, but that'susually number one thing we see missing.
samantha-eck_1_03-25-2025_120449 (07:55):
Yeah.
Yeah.
And I love that.
'cause I think a lot ofpeople get the certain, like.
Even without using a lawyer, there's,everyone always looks at those
like legal zoom, things like that.
And a lot of those people don'tgive you proper information.
They just throw documents at youand they're like, here you go.
It's filed, but you don'tactually understand what went on.
taylor-_1_03-25-2025_100449 (08:13):
That's why I mean I have nothing against like
the legal zooms, like legal shield.
I think you do have to be a littlebit informed and do a little research
on your own, just to check like, whatwould I get if I did this on my own?
What would that be?
What would I be paying?
What would be involved if I work withLegal Zoom, what would I be paying?
What's involved with an attorney?
(08:34):
And I think if you get scheduledwith a consult with an attorney,
we're gonna give you like.
Tell you at least everything you need.
So then you can at least comparepricing what needs to get filed, what
you're comfortable doing on your own.
Maybe some people are like,I don't wanna touch it.
I'd rather you do it as the lawyer.
Some people really wanna fileit on your own and we can kind
of guide you and say, here's thethings we don't want you to miss.
(08:55):
But I think just a little bitof research at the beginning can
help you make sure that you're notmissing all this stuff later on.
samantha-eck_1_03-25-2025_120449: Yeah, like having that little bit (09:01):
undefined
of education to start off with.
taylor-_1_03-25-2025_100449 (09:05):
Yeah.
samantha-eck_1_03-25-2025_120449: matter who you go with because of course (09:05):
undefined
there's always cheaper companies outthere and everything like that, but
you wanna just make sure you have thatknowledge before you're walking into
something and then all of a suddenyears down the road you're like, wait,
I don't have an operating agreement.
taylor-_1_03-25-2025_100449: Yeah, exactly. (09:20):
undefined
I mean, some business owners, I'm kind oflike that too with taxes, like I am not.
My brain just doesn't like taxes at all.
But so I end up paying a higherpremium to work with people that
handle absolutely everything.
So if you're that type of businessowner that you know, like I don't wanna
touch legal stuff, that usually meansyou're going to have to pay somebody
(09:40):
more to be fully on top of it for you.
The middle ground, like filing companies,legal zooms, they do operate in a way
where you have to be a little bit moreinvolved and aware of what's included.
So you can't always come back and be like.
They never told me about this.
It's like they're, they're amiddle ground for a reason.
Right?
They're like, they're alittle bit more affordable.
(10:01):
And I un and I understand wherepeople get confused, where they're
like thinking they're gettinglike this whole complete package.
I think those companies should bedoing a little bit better of a job,
fully explaining, like, we are, I'm,I'm sure that they do, but like, I
think they could do a better job ofexplaining like, if you want the full
thing, you need to go to an attorney.
Here's what we're providing.
You know, here's where wekind of land on the scale.
samantha-eck_1_03-25-2025_120449: Yes, absolutely. (10:23):
undefined
So for someone who starts theirbusiness as a sole proprietor,
how do they know when it's time toswitch to an LLC or another entity?
taylor-_1_03-25-2025_100449: Good question. (10:34):
undefined
Different for every industry, butwhat we look at is a couple things.
What industry you'rein and how risky it is.
Just how, what you'reoperating in terms of business.
So anybody that comes to me that'slike, I wanna launch a skincare line or
like, we're in California and I wannahave some sort of like hemp, CB, D,
(10:57):
anything, anything like topical food,high risk stuff, like I'm usually telling
that person immediately form an entitybecause there's just things involved
that like could get tricky really fast.
It doesn't mean if you're in anotherindustry that it's not good to have it.
Early, but if you're, you know,starting slow as a side hustle and you
(11:19):
wanna test the waters and see if thisbusiness can work for you and maybe
you're consulting or coaching and youhave one or two clients throughout
the year and you're just testing it.
That's a situation where if you maybewanna hold off on an LLC or an entity
because you don't wanna spend what itcosts because you're maybe making just
as much as it would cost to form the LLC.
(11:40):
Like, we don't wanna putyou under immediately.
So we're balancing howmuch do things cost.
Risk of the business and it like justinherent risks that are involved.
And also like it usually comes downto what the business is is gonna make.
So people are typically makingthat call based on that.
So if your business is immediatelylike taking off and making a
ton of money, a lawyer saying,Hey, you should form an LLC.
(12:04):
It's not gonna sting as muchas if you're just starting.
It's like a side hustle thing.
You're testing things out, you haven'tmade anything, and I'm over here telling
you like, we gotta drop 1200 on an LLC.
You're like, whoa, I don't wanna do that.
So.
A lot of things evolve, but I think atthe riskier, the business is, I usually
start that conversation like way earlier.
We always start the conversation justso people know that the option is open,
(12:26):
but people also don't jump into it.
I think a lot of times for financialreasons, which I totally understand, like
if you're starting a business, you don'twanna immediately be negative a lot.
Like I know there's a lot we haveto spend to get things going, but
there's, there's decisions people make.
samantha-eck_1_03-25-2025_120449: Yeah, absolutely. (12:44):
undefined
And I think that's, that's a really goodpoint because I know a lot of people
say that, you know, the LSC is thatextra protection against your, with
your personal assets, which a lot ofpeople, I think, tend to forget about.
They're like, oh, I can just bea DBA and if I get sued, like
only my business is liable.
But that's, you know,there's more to it than that.
(13:04):
Which is why I think even just talkingto a lawyer to understand that would be.
beneficial to anyone who'slooking to start a business.
taylor-_1_03-25-2025_100449 (13:12):
Yeah.
Yeah, definitely.
I think, I mean, as a business owner,there's so much you have to research and
be aware of and like, I know legal is nota fun one for lots of people, but I think
just doing a little bit of that research,like, like you said, is, is helpful
because you can also budget things out.
Like talking to a lawyer, you're probablygonna have to pay them an upfront
(13:33):
fee to schedule a consultation, but.
During those calls, like we'reexplaining to clients like, yes,
you have to spend on this, or No,you don't have to spend on this.
So like we could end up saving you acouple grand on something to we told you
to wait on for a couple months, versusjust like doing everything immediately and
then you're in the whole like five 10 K.
(13:54):
And we also also.
I'll have conversations about lotsof stuff where we're like, Hey,
hold off on that because we needto get this stuff cleared first.
And it, I think it's good just to alsostrategize from a budget perspective too.
samantha-eck_1_03-25-2025_120449: Yeah, absolutely. (14:08):
undefined
So making a pivot fromlike entities to contracts.
Contracts can often feel likeoverwhelming in businesses, but what
are the absolute must have everybusiness owner should have in place?
taylor-_1_03-25-2025_100449: Good question. (14:24):
undefined
I was just going throughthis list, yesterday.
The number one thing business ownersneed to have a lot of us, most of us
have websites, so your website hasto have a privacy policy that's just
legally required across the board.
Several states have actuallypenalties that they can impose.
Doesn't happen all the time, buttechnically they can impose penalties
(14:45):
if you don't have a privacy policy.
There's also weird stuff, like if youwanna run ads on Facebook specifically
and you don't have a privacy policy, likethey could come back and say like, no ads.
So privacy policy is mandatory.
That's essentially telling yourwebsite visitor, like, Hey, here's
what we're collecting about you.
And so that one's a must.
Not necessarily like a contract,but it's a policy that you
(15:05):
have to have on your website.
All businesses, paired withthat as terms and conditions.
It's not mandatory, but on your website,I, we always recommend them 'cause
you wanna be able to dictate how yourvisitors, how your customers are using
your site If you're a service provider.
Like coaching, consulting, andyou do one-on-ones or even one
(15:27):
to many in like a group setting.
We definitely want like a clientservices contractor, whatever type of
service it is that you're providing.
Photographers, videographers, you want acontract definitely for that relationship,
how that looks for a product.
Seller or like retail businessis your terms of purchase.
So wherever those land, whether it'son your website or if you're like in
(15:50):
person selling things, you want thereto be, some sort of written relationship
between you and the buyer of whoever'spurchasing something from you.
That for people who sell online, likeif you're doing courses or digital
products, that can also just look likethe terms of purchasing that thing.
So those are like our must.
Must haves across the board again,depending on the business, we
(16:11):
can extrapolate a lot from there.
But also when you're hiringpeople, definitely having
those agreements in writing.
And I just like, good rule of thumb islike anybody that you're in a business
relationship with probably needs tohave a contract between you and them.
So like a customer, a client, a partner,a vendor, anybody you're dealing
(16:34):
with, sh there should be a contract.
samantha-eck_1_03-25-2025_120449 (16:37):
Yeah.
Yeah.
And I think that's, that's soimportant, but what are some of the
biggest contract mistakes that yousee small business owners making?
taylor-_1_03-25-2025_100449 (16:47):
Yeah.
I think the, like the copy pasting ofother terms or policies or contracts that.
I mean, if, if it's, it'ssuch a spectrum, right?
So like people that have been in a serviceindustry for a long time, they've worked
with a contract for a really long timeand they like work with an attorney,
sometimes are adding bits and pieces.
(17:09):
They're probably a little bit moreseasoned in being able to recognize
what the contract needs versus likebrand new business owner never seen
the contract that they need beforeand they're copying it from somebody
else, or they're like copyingsomething from somebody else's website.
It.
I don't ever say it's like okayto copy some something and like
add bits and pieces, but it's.
(17:30):
That seasoned business owner probablyknows a little bit more of what to
look for versus that brand new businessowner who's maybe never talked to
a lawyer, maybe never had anythingre revised or drafted for them.
So the copying without like blindlyjust adding stuff is a biggie because
that can actually, if we put things inour contract that aren't good for the
business, then it's like, whoa, whoa.
(17:51):
Why did we even put that in there?
We see that a lot where people are like.
I saw this other company adding thisbecause it's a cool benefit and I'm
like, that sets off a whole listof implications for your business.
If you wanna add that in.
That and then.
Probably number one, like missingprovision all the time is just
like a termination provision.
(18:11):
So how do you cancel that contract?
And I've, I'm not a hundred percentsure, sure, but I've kind of deduced
from like looking at these frequently.
It's just because business owners areso optimistic and they don't wanna think
about like, what if this goes terribly?
So they're not also thinking about,how do I get out of this contract?
But we wanna be able to getourselves out of a contract
(18:32):
for a reason other than just.
Other side breached because typicallythat's gonna require like a major thing
happening where you have to go talk toa lawyer and see if you can get out of
the contract, versus do we have somethingin the contract that says we can just
leave, or like we can walk away with likeseven days notice, which in most cases
is ideal and we wanna be able to do, aslong as it's fair for for both parties.
samantha-eck_1_03-25-2025_120449 (18:57):
Yeah.
Yeah, and I think that's totally true.
When I first started, I took like aclient based course where I had, 'cause
I knew the bookkeeping side of things,but I had no idea how to handle clients.
So they gave you like a base.
Contract, and I took that contract andI started like adding things to it.
But then what I did was Iwas like, I don't know if
this is legally sound enough.
(19:18):
So I was like, I don't wanna, Idon't wanna give this to a client,
and then all of a sudden the wordsI'm using or how I'm saying it.
Isn't
taylor-_1_03-25-2025_100449 (19:25):
Yeah.
samantha-eck_1_03-25-2025_120449 (19:26):
I met with a lawyer and had them go through
it and he's like, yeah, he's like, thismight like signal bad things to a client.
He's like, you might wanna word thisdifferently or just remove it entirely.
And we went through and just like crossedeverything out and got everything done.
But I think that's so importantbecause you only know what you know.
(19:46):
Whereas like, you know, a lawyer'sin their zone of genius, so they're
gonna know more about what a, acontract should actually have.
taylor-_1_03-25-2025_100449 (19:54):
Yeah.
Yeah.
And also what we like to do, and what mostlawyers will do is when we're reviewing
your contract for you, we're gonnamake sure that you know what's in it.
Because if you send it out to a clientand they ask you a question, I feel like
there's nothing more embarrassing oflike, oh, I don't actually know what that
means, and I just ask you to sign this.
And clients can tell if you're justlike Googling stuff and like spitting
(20:15):
back random stuff from the internet.
So.
samantha-eck_1_03-25-2025_120449 (20:17):
Yeah.
taylor-_1_03-25-2025_100449: like to make sure I'm like, (20:18):
undefined
look, here's what we changed.
Here's why this is good for you, andif you don't understand anything in
this, like let's talk about it so youcan regurgitate it back to your client.
Because if you're asking them tosign something, you should be able to
explain it, not in like legal terms,obviously, but you should be able to
explain for the most part what it means.
(20:39):
Because if you don't wanna be inthat spot where they're like, I don't
like what this says, and you're like,I don't even know what that means,
because then it's also just kind.
samantha-eck_1_03-25-2025_120449 (20:46):
Yes.
speaking of that, like what shouldbusiness owners look out for
before signing a contract froma client, vendor, or partner?
taylor-_1_03-25-2025_100449 (20:56):
Yeah.
I like to hone in on, intellectualproperty specifically.
So it's depends on like whatside you're on, but if you are.
Signing something where you'remaybe hiring like a, a web
designer, graphic designer,somebody to do social media for you.
(21:18):
Anybody that's creating somethingfor you or your business, technically
they own that material until they'rehanding it over in the contract.
So the contract with them, ifthey're having you sign something,
industry standard is like.
You will own this as thebusiness once you've paid, like
once that exchange is made.
What I don't like is, or what we shouldn'tbe agreeing to, is like if they're keeping
(21:41):
all of the rights they shouldn't be.
If you're paying them to create,like a logo or something for
you, whatever you're paying them.
You're exchanging it andthey no longer own that logo.
It's, it's on them how much theywanna charge for that, however
much you're paying for them.
They, they can, like, it's super commonfor them to be like, Hey, I wanna be
able to feature this on my site becauseI did your work like in my, you know,
(22:03):
book of work or whatever to feature it.
But there needs to be a, a fair exchange.
It's not up to you to decidelike what they're charging you.
So if they're, if it's a logo personcharging you like 50 bucks, like.
That's on them if they wannahandle that stuff over.
So ideally we want theintellectual property be.
, Detailed and you're not signinganything that puts you in a weird
(22:24):
spot of like, oh, I paid forthis, but I don't actually own it.
That can go both ways for ip,but IP is usually the section
where people are co copy pasting.
They're taking stuff from differentcontracts that can get tricky.
Once you start to see people don'tactually understand that part, and
then everybody's just signing andthen it's like, whoa, this doesn't
make sense for like either side.
samantha-eck_1_03-25-2025_120449 (22:46):
Yes.
I think that's so true because,you know, I even paid for like my
logo, like a commercial, I thinkit was like a commercial license or
taylor-_1_03-25-2025_100449 (22:55):
Mm-hmm.
samantha-eck_1_03-25-2025_120449: that they technically release it (22:56):
undefined
to me and now it's like it's mine.
But I feel like that's a lot ofthings that people tend to forget
is that if you don't have somethinglike that in place, technically you
could be potentially not owning yourlogo or whatever properties you have.
taylor-_1_03-25-2025_100449 (23:14):
And that's a question we have when we're doing,
trademark applications for logos.
We don't need that document necessarilyto file the application, but I always
ask like, do you own this logo?
And they're like, yeah.
And I'm like, okay, who made it for you?
And they'll tell me and I'mlike, do you have the contract?
And we see, and they're like,oh, we don't have the contract.
So I understand wherepeople are coming from.
(23:35):
They think they paid for something,so they own it, but that's.
Not actually true unlesswe have it in writing.
So that's something that downthe line that you're like, oh,
I don't actually own my logo.
Interesting.
samantha-eck_1_03-25-2025_120449 (23:47):
Yes.
I think one of the most importantthings I've learned, like just not
in business, but also corporately,is always have a paper trail
taylor-_1_03-25-2025_100449 (23:53):
Yeah,
samantha-eck_1_03-25-2025_120449: like totally applies to everything (23:54):
undefined
legal and like financial.
Just your whole world of business.
Leave a paper, paper trail somewhere.
taylor-_1_03-25-2025_100449: yeah, yeah, definitely. (24:01):
undefined
We love a, we love a paper trail.
samantha-eck_1_03-25-2025_120449 (24:06):
Yes.
So what's one legal issue thatblindsides a lot of new entrepreneurs
and how can they avoid it?
taylor-_1_03-25-2025_100449 (24:14):
I think a lot of people like have a good grasp
of LLC or entity and they just, theyknow it's something that they need.
But maybe I. They just haven'tmade the, the move to do it yet.
I think a lot of people areaware of contracts, but they
just kind of shy away from them.
But I think trademarks and, protectingyour intellectual property, so like
copyright and trademark, I thinkpeople either believe that's something
(24:39):
they do like way far down the lineor like when something turns out to
be really valuable, when actually youcan start that process way earlier.
You actually owntrademarks and copyrights.
By default at a limited scale.
You own that stuff way earlier.
So your business owners are workingwith things that they don't,
(25:00):
aren't aware of, are valuable, ourassets, and we need to be at least
planning to protect those things.
samantha-eck_1_03-25-2025_120449 (25:07):
Yeah.
absolutely.
Now, when do you think they shouldDIY, their legal work, and when should
they Absolutely hire a professional?
taylor-_1_03-25-2025_100449 (25:16):
I think, I mean technically trademark
applications, copyright applications,any, anything you want to file
technically you can file on your own.
But things that I typically recommend.
Filing through an attorney are trademarkapplications just because there is
(25:38):
like a search process that we dothat if you don't do that, we could
file an application and like it canget refused for a number of reasons.
And then we've wasted probablyeight to nine months of waiting,
filing fees and then we have togo pay more on top to fix that.
So that's more of like a.Financial reason to at least
just start with a lawyer early.
(25:58):
As long as we've talked to a lawyerabout like an LLC or something
similar, I think there are filingcompanies that can form those for you.
If you're a single owner of a business.
It does get a lot trickier whenyou have multiple owners, so at
that point I definitely recommendlike having a lawyer involved.
But you can go through like a, afiling partner if, if your budget
(26:19):
is limited to file an LLC tofile a corporation if you need.
But again, we, they're notgonna give legal advice.
So you wanna really go into thatknowing like, okay, here's what I
need, here's what I want, this iswhat I'm paying for, contracts.
Probably should be attorney drafted.
At some point.
There's templates that a lot ofattorneys have, we have templates, a
bunch of other attorneys have templates.
(26:40):
I think creating your own contract isjust, it's nearly impossible to do unless
you have a lot of experience in it.
samantha-eck_1_03-25-2025_120449 (26:49):
Yeah.
Yeah.
No, I agree.
I think 'cause we don't know how to talk,like lawyers talk and there's like, it's
a diff, it's a different language almost.
So.
taylor-_1_03-25-2025_100449: It is, it's a, it's a. (26:59):
undefined
samantha-eck_1_03-25-2025_120449 (27:02):
Yes.
A lot of creatives and small businessowners just tend to avoid anything
legal because it feels reallyintimidating, but how can they kinda
shift that mindset to make it easierto approach lawyers or legal stuff?
taylor-_1_03-25-2025_100449: Yeah, I think. (27:17):
undefined
Ultimately finding lawyersor professionals that you
feel comfortable with?
Because I think the intimidating part,and I could be totally wrong about
this, but having talked to clients,I think the intimidating part is not
knowing what you need, but then alsoknowing lawyers do charge a lot.
(27:38):
So I think people don't wannaapproach those conversations
just immediately getting like.
All their, whateverbudget they had wiped out.
And so I think they're alittle fearful of that.
But there are a lot oflawyers, we do this too.
We charge flat fee forpretty much everything.
So, you know, going into it, whatyou're being charged, we're not
doing like an hourly, like randombill at the end of the month.
(28:01):
And we'll also like hop on aconsultation and assess out like what
a quote would be for a project so youcan see that you can budget it out.
And also finding lawyers that youfeel comfortable with, that you're
not feeling like they're just gonnacharge me for any little thing.
I like to think that we do a goodjob of like, I'll tell clients like.
Don't pay me to do this.
I think you can do this on your own.
(28:22):
Or like, I'll really do it if youwant me to, but this is my fee.
Versus if you wanna file this on your own.
So I think finding people that you'recomfortable with and, and know do
really have your best interest in mind.
Like, yes, there are things weneed, we do need to charge for.
There's a filing feesinvolved with everything.
There's long processes.
But I think feeling comfortable that, youknow, this person isn't trying to like.
(28:44):
Pull the wool over your eyeswith how much is being charged, I
think is really important factor.
samantha-eck_1_03-25-2025_120449 (28:51):
Yeah, and I think that kind of stands true
to like a lot of service providers.
'cause I think a lot of us arejust very like cautious about who
we put our money into nowadays.
So understanding and findingsomeone that you like connect
with a little bit more will makethat probably a little less scary
taylor-_1_03-25-2025_100449 (29:06):
yeah,
samantha-eck_1_03-25-2025_120449: For sure. (29:06):
undefined
taylor-_1_03-25-2025_100449: yeah, definitely. (29:07):
undefined
Absolutely.
Yeah.
That's across the board.
I. Like when we recommendother service providers.
I either make sure that I'm working,I have worked with them before,
samantha-eck_1_03-25-2025_120449 (29:19):
Yep.
taylor-_1_03-25-2025_100449 (29:19):
or that I know that they're at least super
honest and transparent, and they'lltell people like, yes, you need this,
or, no, you don't need this, or, youknow, here's how we can work together.
I think that's, that's reallyimportant, is really under, and not
being afraid to ask questions either.
Like I am never.
Upset when somebody wants to knowexactly, like if they're telling
me, I want my LLC, but I wannaknow exactly what you're doing.
(29:42):
I, I tell them, here'sa list of what we do.
Please go compare this to, if youwanna look at LegalZoom, if you wanna
go look at filing on your own, becauseI want them to see what's involved.
I want them to see the budget and thepricing for what's involved so that
they can appreciate like, this iswhat we're providing to you versus.
Here's what the middle ground is.
Here's what the do it yourself optionis, and once they're informed, I'm
(30:05):
like, yeah, make whatever decisionyou need to, like, I'm not gonna get
mad if you wanna do it on your own.
I, if you feel comfortable, like I'drather you save the money on that.
samantha-eck_1_03-25-2025_120449: Yeah, no, I feel the same way. (30:13):
undefined
'cause I've had clients come to me andbe like, Hey, like my CPA advised me to
become an S Corp or something like that.
And the one lady she made, I think itwas only like $10,000 profit that year.
And I was like.
There's, I was like,there's no way you're ready.
I was like, think of all the extracosts that you have to add on like
your payroll, things like that.
I was like, so I think that is true.
(30:34):
Like you really need to be just upfrontand honest, and that's such a huge
factor in making it a little less, alittle less scary and a little more
like, okay, I can work with this person.
taylor-_1_03-25-2025_100449 (30:45):
Yeah, I think that's just a generally better way
to go and I prefer to be like that too.
'cause I don't wanna deal, I don't wannadeal with a client in like two years
that's like mad at me for charging themsomething that they weren't aware of.
Like any little thing that we have to do,like we get permission from the client.
I'm like, Hey, we have to do this now.
It's gonna be this much,
samantha-eck_1_03-25-2025_120449 (31:05):
Yeah.
taylor-_1_03-25-2025_100449: if it's costing me more time. (31:05):
undefined
That.
I could be charginglike hundreds of bucks.
I'm like, Hey, client, I'mgonna charge you $50 to do this.
Is that okay?
Like I would rather have them becomfortable and know everything all the
way leading up because like nightmareclients are not fun for anybody.
And I don't think anybody wantsto deal with that situation.
I just prefer to be likeupfront and transparent.
samantha-eck_1_03-25-2025_120449 (31:28):
Yes.
So important.
Now, if someone today listening wantsto legally protect their business
but doesn't know where to start,what do you suggest is the first
step that they should take today?
taylor-_1_03-25-2025_100449: I think the three foundational (31:38):
undefined
things that we typically addressare what we talked about.
So you did a really good jobof covering those entities.
Trademarks and then also contracts.
I think if it's in a budget,schedule a chat with an attorney
so they can lay out what.
You're gonna need down the line so youcan at least start planning for that.
(32:00):
If it's in the budget to hire anattorney to like, do all this stuff.
Just get one on board immediately.
If you know that you can affordit and you don't wanna touch any
of this stuff, but if you're moreof like, I need to do it myself.
I think starting with those threefoundational things and working out
from there is a really good idea.
samantha-eck_1_03-25-2025_120449 (32:17):
Yes.
taylor-_1_03-25-2025_100449 (32:18):
and like myself and other attorneys,
I know we have a lot of freeinformation on social media platforms.
We have like freebies on oursites with a bunch of info.
So if you do wanna do it yourself,that is gonna mean you have to put
a little bit more work into it.
So like, download this stuff, likeeducate yourself a little bit and if
you're like, I don't wanna touch this,and maybe you do need to, to hire
(32:39):
somebody to do more of it for you.
samantha-eck_1_03-25-2025_120449: Yes, absolutely. (32:41):
undefined
Well, thank you so much for coming ontoday, Taylor, and sharing your knowledge.
I just love that you're empoweringother business owners to take
actionable steps with legal matters.
taylor-_1_03-25-2025_100449 (32:53):
you.
samantha-eck_1_03-25-2025_120449 (32:53):
can my audience connect with you, learn
more about you, or work with you?
taylor-_1_03-25-2025_100449 (32:58):
Yeah.
We are on most platforms aslegal Miga, L-E-G-A-L-M-I-G-A.
And then our site isjust legal miga law.com.
And we, I, I mean, I'm remote virtual,so those are typically the best ways
to either contact or learn about.
Whatever it is we do.
And we have a ton of informationand like freebies, if people just
(33:20):
wanna download and take a peekand see maybe what they need.
samantha-eck_1_03-25-2025_120449 (33:25):
Awesome.
Yeah, and we'll include whateverwe can in the show notes for you.
But thank you so much forcoming today and talking.
I really appreciate it.
taylor-_1_03-25-2025_100449 (33:33):
Thank you.
I appreciate it.
Thanks for having me.
samantha-eck_1_03-25-2025_120449 (33:36):
The truth is your business deserves protection
and you deserve to feel confident in howyou're running things behind the scenes.
Whether you're just getting startedor already growing fast, getting
your legal foundations in placecan be the exact thing that helps
you scale safely and sustainably.
If this episode helped you see the legalside of business in a new light, I'd
be so grateful if you'd leave a review,share it with a friend, or just DM me
(34:00):
and let me know what stood out to you.
And if you have more ideas for topics orguests like this, make sure to fill out
the form in the description box below.
And hey, if you're ready to take thenext step with your finances too, you
know I'm always here from CashflowStrategy to full on CFO support.
Let's build your business with intention.
Until next time, as always, havea wonderful rest of your week
(34:20):
and we'll see you next week.
Farewell fellow Travelers.
undefined
Money Podcast, where we turn financialconfusion into creative confidence.
I'm Samantha Eck, bookkeeper andfractional CFO for creative entrepreneurs.
Each week I'm sharing myfinancial expertise and actionable
strategies to help you builda thriving creative business.
Plus, you'll hear from industry expertswho bring fresh perspectives on growing
(00:23):
your business beyond the numbers.
Because building a successfulcreative business starts with
strong financial foundations.
Your next chapter starts now.
samantha-eck_1_03-25-2025_120449: You are listening to the Creative (00:34):
undefined
Minds Smart Money Podcast and todayI have special guest Taylor with me.
Taylor is the founder of LegalMIGA Law, offering accessible legal
support for small business ownersthrough the legal MIGA membership
specializing in trademark contracts,copyrights and business formation.
She helps entrepreneurs protecttheir brands and content with
(00:56):
strategic legal measures.
With a background in civil litigationand consumer protection, Taylor
is passionate about empoweringbipoc and female owned businesses.
She has founded the Legal MIGA Library,a resource hub, providing essential
legal tools for entrepreneurs, aCalifornia Super Lawyers Rising Star and
CLE Reisman Awards runner up Taylor'slicense to practice in California and
(01:18):
all US district courts in the state.
How are you today, Taylor?
It's so good to have you here.
taylor-_1_03-25-2025_100449: Thank you for having me. (01:25):
undefined
I'm a little tired.
I have a brand new baby, well, she'snot brand new, but she's, she's new.
samantha-eck_1_03-25-2025_120449: Ah, that's totally understandable. (01:33):
undefined
But before we really dive into the nittygritty of everything, I would love for
you to tell the audience a little bitabout yourself, what you do and how you
really got into the legal side of businessand why you're so passionate about it.
taylor-_1_03-25-2025_100449 (01:47):
Yeah.
So I've been a lawyer for a littleover, I think 10 years now, and I was
working in law firms for other people,for four and a half of those years, and
did a bunch of different types of law.
I. Wasn't really a hundredpercent attached to like
loving, loving what I was doing.
(02:07):
There were parts of what Iwould do that I did but I just
wasn't like super passionate.
And I always was like, who arethose people that are really
passionate about their jobs?
Like what is that like?
And just kind of through wanting tohave my own thing, like wanting to have
a very flexible schedule, planning outto potentially have kids and a family.
Started my own law firm and we'vebeen doing this for five and a half
(02:31):
years now, and, I'm able to like pickmy clients, talk to my clients like.
I still select who I wanna workwith, like hone in on exactly
who I want to be helping.
And it's not only, I mean, fulfillingfor me, but it's also really
amazing to be able to educatecommunities specifically on legal.
(02:51):
I think I came into this thinkinglike, we're just, I'm gonna, I'm
gonna be a lawyer and help peopleand do the legal stuff, but there's
so much education that's required.
Far before anybody everlike pays us anything.
So the education piece, I think wassomething I had no idea was coming,
but, it's probably my favorite part.
samantha-eck_1_03-25-2025_120449: Yeah, I love that. (03:09):
undefined
'cause I feel like.
Business owners in general justhave a lack of educational resources
when it comes to like legalfinancial matters, things like that.
taylor-_1_03-25-2025_100449 (03:18):
Yeah.
samantha-eck_1_03-25-2025_120449: there's a lot of people being like, what? (03:19):
undefined
What do I do?
taylor-_1_03-25-2025_100449 (03:22):
Yeah.
Yeah.
samantha-eck_1_03-25-2025_120449: So, let's start with the basics. (03:24):
undefined
What's really the biggest differencesbetween an LLC, an S corp, and a
corporation, and how does a businessowner know which one is right for them?
taylor-_1_03-25-2025_100449: Good question. (03:36):
undefined
And I love that you're asking thedifference s-corp too, because that
is a huge misconception a lot ofpeople have that that's a, an entity.
But it's, so I get it because peopleare always like, I have an S-corp.
I have an S-corp.
The differences are an LLC anda corporation are different
types of legal entities.
(03:57):
There's different types of corporationsthat you can have, but when you form
an entity, what most business ownersare doing, they're either forming an
LLC like 90% of the time, and then someother people are forming corporations.
They might have a specialtype of corporation.
However, when it comes to tax time, yourtax person's gonna counsel you and advise
(04:18):
you on what's best for your business.
And what's tricky is an LLC or acorporation can technically be taxed
as an S corp. So, that is advantageousto a lot of business owners.
So who are you talking to more,you're talking to your tax
people more than your attorney.
So you're usually like, oh, my S-corp.
My S-corp.
So a lot of people think they haveS-corp, but what they really have is
(04:39):
either an LLC that's taxed as an S-corp.
Or a corporation that's taxed as an Scorp. But what we're working with most
often is LLCs for business owners, unlessyou're a certain type of business that
just can't form an LLC or you don't,you can't operate under those laws.
Depends on your state,depends on what you're doing.
But most businesses can form LLCs andthey're great and they're super flexible.
(05:03):
Pretty easy to get formed to maintain.
samantha-eck_1_03-25-2025_120449: Yeah, absolutely. (05:06):
undefined
And I think, I love that youspecified that it's a classification
because I hear the same thing.
All the time people arelike, oh, I'm an S-corp.
I'm an S-corp.
taylor-_1_03-25-2025_100449 (05:15):
Yeah.
samantha-eck_1_03-25-2025_120449: I'm like, you are an S-corp, but like (05:16):
undefined
what's your, like are you an LLC?
taylor-_1_03-25-2025_100449 (05:20):
Yeah.
samantha-eck_1_03-25-2025_120449 (05:21):
And most of the time they are that, that LLC.
So
taylor-_1_03-25-2025_100449 (05:24):
Yeah.
Yeah.
And that's good to know andI'm glad you pointed that out.
'cause most business owners are like,no, I'm an S corp. And I'm like, I
know from a tax perspective you're an Scorp, but what's your like legal paper?
And usually they haven't seen thelegal paperwork in like years.
So they're like, actuallyI don't know what I am.
And then they have to go check.
samantha-eck_1_03-25-2025_120449 (05:42):
Yeah.
And then you have people whodon't even know that they are
an S-corp because they've justbeen kind of like pushed into it.
So I think that that's somethingyou definitely need, like from my
perspective, I'm like, you don'tjust talk to like one or the other,
like a CPA or a legal person.
You need to talk with
taylor-_1_03-25-2025_100449 (05:58):
Mm-hmm.
samantha-eck_1_03-25-2025_120449: out what's best for your business. (05:59):
undefined
taylor-_1_03-25-2025_100449: Yeah, definitely. (06:00):
undefined
I mean, ideally you wanna probably checkin with a lawyer like once a year and
you don't wanna have other problems.
I'm good with talking to clientsonce a year or more if they
have more stuff coming up.
But, your tax person, usually peopleare just talking to them more, so
they're like, I have an S corp.
And I'm like, no.
samantha-eck_1_03-25-2025_120449 (06:19):
Yes.
So what are some of the commonmistakes new business owners make
when setting up their business entity?
taylor-_1_03-25-2025_100449: Most common, you can certainly (06:26):
undefined
file your entity on your own.
So you can file your LLC on your own.
You can file your corporation on your own.
I would say if you are looking intoa corporation and you wanna file
it on your own, definitely I wouldat least talk to a lawyer because
they might talk you into an LLC.
It might be cheaper for you.
Some people think they needa corporation and they don't.
(06:46):
Some people actually try to form anLLC and they form it and they find out
they can't actually operate as an LLC.
So for example, certain professionallicensed individuals like therapists,
any sort of like doctors, lawyers,you commonly can't have a regular LLC.
But that's number one mistake, Ithink is picking the wrong entity.
(07:08):
Sometimes it's not catastrophic,but sometimes it means like
your entity's not valid.
Sometimes it just means youmight be in a more complex entity
that you're paying more for.
You're doing more stuff for that.
We could have you in an LLC, and it'sessentially gonna do what you need.
Other common mistake we see when peoplefile on their own is they just don't.
Draft up the internal documents.
So when you form your LLC or yourcorporation, your state's gonna let you
(07:31):
know like, Hey, you missed this document.
But the internal things that never getfiled, like the operating agreement for
an LLC, if you're forming your own LLCand you've never done it before, you
don't know what's involved, you're notgonna know that you need that probably.
So if you don't have thatinternal document, I mean,
it's not the end of the world.
We can always draft it for you, but that'susually number one thing we see missing.
samantha-eck_1_03-25-2025_120449 (07:55):
Yeah.
Yeah.
And I love that.
'cause I think a lot ofpeople get the certain, like.
Even without using a lawyer, there's,everyone always looks at those
like legal zoom, things like that.
And a lot of those people don'tgive you proper information.
They just throw documents at youand they're like, here you go.
It's filed, but you don'tactually understand what went on.
taylor-_1_03-25-2025_100449 (08:13):
That's why I mean I have nothing against like
the legal zooms, like legal shield.
I think you do have to be a littlebit informed and do a little research
on your own, just to check like, whatwould I get if I did this on my own?
What would that be?
What would I be paying?
What would be involved if I work withLegal Zoom, what would I be paying?
What's involved with an attorney?
(08:34):
And I think if you get scheduledwith a consult with an attorney,
we're gonna give you like.
Tell you at least everything you need.
So then you can at least comparepricing what needs to get filed, what
you're comfortable doing on your own.
Maybe some people are like,I don't wanna touch it.
I'd rather you do it as the lawyer.
Some people really wanna fileit on your own and we can kind
of guide you and say, here's thethings we don't want you to miss.
(08:55):
But I think just a little bitof research at the beginning can
help you make sure that you're notmissing all this stuff later on.
samantha-eck_1_03-25-2025_120449: Yeah, like having that little bit (09:01):
undefined
of education to start off with.
taylor-_1_03-25-2025_100449 (09:05):
Yeah.
samantha-eck_1_03-25-2025_120449: matter who you go with because of course (09:05):
undefined
there's always cheaper companies outthere and everything like that, but
you wanna just make sure you have thatknowledge before you're walking into
something and then all of a suddenyears down the road you're like, wait,
I don't have an operating agreement.
taylor-_1_03-25-2025_100449: Yeah, exactly. (09:20):
undefined
I mean, some business owners, I'm kind oflike that too with taxes, like I am not.
My brain just doesn't like taxes at all.
But so I end up paying a higherpremium to work with people that
handle absolutely everything.
So if you're that type of businessowner that you know, like I don't wanna
touch legal stuff, that usually meansyou're going to have to pay somebody
(09:40):
more to be fully on top of it for you.
The middle ground, like filing companies,legal zooms, they do operate in a way
where you have to be a little bit moreinvolved and aware of what's included.
So you can't always come back and be like.
They never told me about this.
It's like they're, they're amiddle ground for a reason.
Right?
They're like, they're alittle bit more affordable.
(10:01):
And I un and I understand wherepeople get confused, where they're
like thinking they're gettinglike this whole complete package.
I think those companies should bedoing a little bit better of a job,
fully explaining, like, we are, I'm,I'm sure that they do, but like, I
think they could do a better job ofexplaining like, if you want the full
thing, you need to go to an attorney.
Here's what we're providing.
You know, here's where wekind of land on the scale.
samantha-eck_1_03-25-2025_120449: Yes, absolutely. (10:23):
undefined
So for someone who starts theirbusiness as a sole proprietor,
how do they know when it's time toswitch to an LLC or another entity?
taylor-_1_03-25-2025_100449: Good question. (10:34):
undefined
Different for every industry, butwhat we look at is a couple things.
What industry you'rein and how risky it is.
Just how, what you'reoperating in terms of business.
So anybody that comes to me that'slike, I wanna launch a skincare line or
like, we're in California and I wannahave some sort of like hemp, CB, D,
(10:57):
anything, anything like topical food,high risk stuff, like I'm usually telling
that person immediately form an entitybecause there's just things involved
that like could get tricky really fast.
It doesn't mean if you're in anotherindustry that it's not good to have it.
Early, but if you're, you know,starting slow as a side hustle and you
(11:19):
wanna test the waters and see if thisbusiness can work for you and maybe
you're consulting or coaching and youhave one or two clients throughout
the year and you're just testing it.
That's a situation where if you maybewanna hold off on an LLC or an entity
because you don't wanna spend what itcosts because you're maybe making just
as much as it would cost to form the LLC.
(11:40):
Like, we don't wanna putyou under immediately.
So we're balancing howmuch do things cost.
Risk of the business and it like justinherent risks that are involved.
And also like it usually comes downto what the business is is gonna make.
So people are typically makingthat call based on that.
So if your business is immediatelylike taking off and making a
ton of money, a lawyer saying,Hey, you should form an LLC.
(12:04):
It's not gonna sting as muchas if you're just starting.
It's like a side hustle thing.
You're testing things out, you haven'tmade anything, and I'm over here telling
you like, we gotta drop 1200 on an LLC.
You're like, whoa, I don't wanna do that.
So.
A lot of things evolve, but I think atthe riskier, the business is, I usually
start that conversation like way earlier.
We always start the conversation justso people know that the option is open,
(12:26):
but people also don't jump into it.
I think a lot of times for financialreasons, which I totally understand, like
if you're starting a business, you don'twanna immediately be negative a lot.
Like I know there's a lot we haveto spend to get things going, but
there's, there's decisions people make.
samantha-eck_1_03-25-2025_120449: Yeah, absolutely. (12:44):
undefined
And I think that's, that's a really goodpoint because I know a lot of people
say that, you know, the LSC is thatextra protection against your, with
your personal assets, which a lot ofpeople, I think, tend to forget about.
They're like, oh, I can just bea DBA and if I get sued, like
only my business is liable.
But that's, you know,there's more to it than that.
(13:04):
Which is why I think even just talkingto a lawyer to understand that would be.
beneficial to anyone who'slooking to start a business.
taylor-_1_03-25-2025_100449 (13:12):
Yeah.
Yeah, definitely.
I think, I mean, as a business owner,there's so much you have to research and
be aware of and like, I know legal is nota fun one for lots of people, but I think
just doing a little bit of that research,like, like you said, is, is helpful
because you can also budget things out.
Like talking to a lawyer, you're probablygonna have to pay them an upfront
(13:33):
fee to schedule a consultation, but.
During those calls, like we'reexplaining to clients like, yes,
you have to spend on this, or No,you don't have to spend on this.
So like we could end up saving you acouple grand on something to we told you
to wait on for a couple months, versusjust like doing everything immediately and
then you're in the whole like five 10 K.
(13:54):
And we also also.
I'll have conversations about lotsof stuff where we're like, Hey,
hold off on that because we needto get this stuff cleared first.
And it, I think it's good just to alsostrategize from a budget perspective too.
samantha-eck_1_03-25-2025_120449: Yeah, absolutely. (14:08):
undefined
So making a pivot fromlike entities to contracts.
Contracts can often feel likeoverwhelming in businesses, but what
are the absolute must have everybusiness owner should have in place?
taylor-_1_03-25-2025_100449: Good question. (14:24):
undefined
I was just going throughthis list, yesterday.
The number one thing business ownersneed to have a lot of us, most of us
have websites, so your website hasto have a privacy policy that's just
legally required across the board.
Several states have actuallypenalties that they can impose.
Doesn't happen all the time, buttechnically they can impose penalties
(14:45):
if you don't have a privacy policy.
There's also weird stuff, like if youwanna run ads on Facebook specifically
and you don't have a privacy policy, likethey could come back and say like, no ads.
So privacy policy is mandatory.
That's essentially telling yourwebsite visitor, like, Hey, here's
what we're collecting about you.
And so that one's a must.
Not necessarily like a contract,but it's a policy that you
(15:05):
have to have on your website.
All businesses, paired withthat as terms and conditions.
It's not mandatory, but on your website,I, we always recommend them 'cause
you wanna be able to dictate how yourvisitors, how your customers are using
your site If you're a service provider.
Like coaching, consulting, andyou do one-on-ones or even one
(15:27):
to many in like a group setting.
We definitely want like a clientservices contractor, whatever type of
service it is that you're providing.
Photographers, videographers, you want acontract definitely for that relationship,
how that looks for a product.
Seller or like retail businessis your terms of purchase.
So wherever those land, whether it'son your website or if you're like in
(15:50):
person selling things, you want thereto be, some sort of written relationship
between you and the buyer of whoever'spurchasing something from you.
That for people who sell online, likeif you're doing courses or digital
products, that can also just look likethe terms of purchasing that thing.
So those are like our must.
Must haves across the board again,depending on the business, we
(16:11):
can extrapolate a lot from there.
But also when you're hiringpeople, definitely having
those agreements in writing.
And I just like, good rule of thumb islike anybody that you're in a business
relationship with probably needs tohave a contract between you and them.
So like a customer, a client, a partner,a vendor, anybody you're dealing
(16:34):
with, sh there should be a contract.
samantha-eck_1_03-25-2025_120449 (16:37):
Yeah.
Yeah.
And I think that's, that's soimportant, but what are some of the
biggest contract mistakes that yousee small business owners making?
taylor-_1_03-25-2025_100449 (16:47):
Yeah.
I think the, like the copy pasting ofother terms or policies or contracts that.
I mean, if, if it's, it'ssuch a spectrum, right?
So like people that have been in a serviceindustry for a long time, they've worked
with a contract for a really long timeand they like work with an attorney,
sometimes are adding bits and pieces.
(17:09):
They're probably a little bit moreseasoned in being able to recognize
what the contract needs versus likebrand new business owner never seen
the contract that they need beforeand they're copying it from somebody
else, or they're like copyingsomething from somebody else's website.
It.
I don't ever say it's like okayto copy some something and like
add bits and pieces, but it's.
(17:30):
That seasoned business owner probablyknows a little bit more of what to
look for versus that brand new businessowner who's maybe never talked to
a lawyer, maybe never had anythingre revised or drafted for them.
So the copying without like blindlyjust adding stuff is a biggie because
that can actually, if we put things inour contract that aren't good for the
business, then it's like, whoa, whoa.
(17:51):
Why did we even put that in there?
We see that a lot where people are like.
I saw this other company adding thisbecause it's a cool benefit and I'm
like, that sets off a whole listof implications for your business.
If you wanna add that in.
That and then.
Probably number one, like missingprovision all the time is just
like a termination provision.
(18:11):
So how do you cancel that contract?
And I've, I'm not a hundred percentsure, sure, but I've kind of deduced
from like looking at these frequently.
It's just because business owners areso optimistic and they don't wanna think
about like, what if this goes terribly?
So they're not also thinking about,how do I get out of this contract?
But we wanna be able to getourselves out of a contract
(18:32):
for a reason other than just.
Other side breached because typicallythat's gonna require like a major thing
happening where you have to go talk toa lawyer and see if you can get out of
the contract, versus do we have somethingin the contract that says we can just
leave, or like we can walk away with likeseven days notice, which in most cases
is ideal and we wanna be able to do, aslong as it's fair for for both parties.
samantha-eck_1_03-25-2025_120449 (18:57):
Yeah.
Yeah, and I think that's totally true.
When I first started, I took like aclient based course where I had, 'cause
I knew the bookkeeping side of things,but I had no idea how to handle clients.
So they gave you like a base.
Contract, and I took that contract andI started like adding things to it.
But then what I did was Iwas like, I don't know if
this is legally sound enough.
(19:18):
So I was like, I don't wanna, Idon't wanna give this to a client,
and then all of a sudden the wordsI'm using or how I'm saying it.
Isn't
taylor-_1_03-25-2025_100449 (19:25):
Yeah.
samantha-eck_1_03-25-2025_120449 (19:26):
I met with a lawyer and had them go through
it and he's like, yeah, he's like, thismight like signal bad things to a client.
He's like, you might wanna word thisdifferently or just remove it entirely.
And we went through and just like crossedeverything out and got everything done.
But I think that's so importantbecause you only know what you know.
(19:46):
Whereas like, you know, a lawyer'sin their zone of genius, so they're
gonna know more about what a, acontract should actually have.
taylor-_1_03-25-2025_100449 (19:54):
Yeah.
Yeah.
And also what we like to do, and what mostlawyers will do is when we're reviewing
your contract for you, we're gonnamake sure that you know what's in it.
Because if you send it out to a clientand they ask you a question, I feel like
there's nothing more embarrassing oflike, oh, I don't actually know what that
means, and I just ask you to sign this.
And clients can tell if you're justlike Googling stuff and like spitting
(20:15):
back random stuff from the internet.
So.
samantha-eck_1_03-25-2025_120449 (20:17):
Yeah.
taylor-_1_03-25-2025_100449: like to make sure I'm like, (20:18):
undefined
look, here's what we changed.
Here's why this is good for you, andif you don't understand anything in
this, like let's talk about it so youcan regurgitate it back to your client.
Because if you're asking them tosign something, you should be able to
explain it, not in like legal terms,obviously, but you should be able to
explain for the most part what it means.
(20:39):
Because if you don't wanna be inthat spot where they're like, I don't
like what this says, and you're like,I don't even know what that means,
because then it's also just kind.
samantha-eck_1_03-25-2025_120449 (20:46):
Yes.
speaking of that, like what shouldbusiness owners look out for
before signing a contract froma client, vendor, or partner?
taylor-_1_03-25-2025_100449 (20:56):
Yeah.
I like to hone in on, intellectualproperty specifically.
So it's depends on like whatside you're on, but if you are.
Signing something where you'remaybe hiring like a, a web
designer, graphic designer,somebody to do social media for you.
(21:18):
Anybody that's creating somethingfor you or your business, technically
they own that material until they'rehanding it over in the contract.
So the contract with them, ifthey're having you sign something,
industry standard is like.
You will own this as thebusiness once you've paid, like
once that exchange is made.
What I don't like is, or what we shouldn'tbe agreeing to, is like if they're keeping
(21:41):
all of the rights they shouldn't be.
If you're paying them to create,like a logo or something for
you, whatever you're paying them.
You're exchanging it andthey no longer own that logo.
It's, it's on them how much theywanna charge for that, however
much you're paying for them.
They, they can, like, it's super commonfor them to be like, Hey, I wanna be
able to feature this on my site becauseI did your work like in my, you know,
(22:03):
book of work or whatever to feature it.
But there needs to be a, a fair exchange.
It's not up to you to decidelike what they're charging you.
So if they're, if it's a logo personcharging you like 50 bucks, like.
That's on them if they wannahandle that stuff over.
So ideally we want theintellectual property be.
, Detailed and you're not signinganything that puts you in a weird
(22:24):
spot of like, oh, I paid forthis, but I don't actually own it.
That can go both ways for ip,but IP is usually the section
where people are co copy pasting.
They're taking stuff from differentcontracts that can get tricky.
Once you start to see people don'tactually understand that part, and
then everybody's just signing andthen it's like, whoa, this doesn't
make sense for like either side.
samantha-eck_1_03-25-2025_120449 (22:46):
Yes.
I think that's so true because,you know, I even paid for like my
logo, like a commercial, I thinkit was like a commercial license or
taylor-_1_03-25-2025_100449 (22:55):
Mm-hmm.
samantha-eck_1_03-25-2025_120449: that they technically release it (22:56):
undefined
to me and now it's like it's mine.
But I feel like that's a lot ofthings that people tend to forget
is that if you don't have somethinglike that in place, technically you
could be potentially not owning yourlogo or whatever properties you have.
taylor-_1_03-25-2025_100449 (23:14):
And that's a question we have when we're doing,
trademark applications for logos.
We don't need that document necessarilyto file the application, but I always
ask like, do you own this logo?
And they're like, yeah.
And I'm like, okay, who made it for you?
And they'll tell me and I'mlike, do you have the contract?
And we see, and they're like,oh, we don't have the contract.
So I understand wherepeople are coming from.
(23:35):
They think they paid for something,so they own it, but that's.
Not actually true unlesswe have it in writing.
So that's something that downthe line that you're like, oh,
I don't actually own my logo.
Interesting.
samantha-eck_1_03-25-2025_120449 (23:47):
Yes.
I think one of the most importantthings I've learned, like just not
in business, but also corporately,is always have a paper trail
taylor-_1_03-25-2025_100449 (23:53):
Yeah,
samantha-eck_1_03-25-2025_120449: like totally applies to everything (23:54):
undefined
legal and like financial.
Just your whole world of business.
Leave a paper, paper trail somewhere.
taylor-_1_03-25-2025_100449: yeah, yeah, definitely. (24:01):
undefined
We love a, we love a paper trail.
samantha-eck_1_03-25-2025_120449 (24:06):
Yes.
So what's one legal issue thatblindsides a lot of new entrepreneurs
and how can they avoid it?
taylor-_1_03-25-2025_100449 (24:14):
I think a lot of people like have a good grasp
of LLC or entity and they just, theyknow it's something that they need.
But maybe I. They just haven'tmade the, the move to do it yet.
I think a lot of people areaware of contracts, but they
just kind of shy away from them.
But I think trademarks and, protectingyour intellectual property, so like
copyright and trademark, I thinkpeople either believe that's something
(24:39):
they do like way far down the lineor like when something turns out to
be really valuable, when actually youcan start that process way earlier.
You actually owntrademarks and copyrights.
By default at a limited scale.
You own that stuff way earlier.
So your business owners are workingwith things that they don't,
(25:00):
aren't aware of, are valuable, ourassets, and we need to be at least
planning to protect those things.
samantha-eck_1_03-25-2025_120449 (25:07):
Yeah.
absolutely.
Now, when do you think they shouldDIY, their legal work, and when should
they Absolutely hire a professional?
taylor-_1_03-25-2025_100449 (25:16):
I think, I mean technically trademark
applications, copyright applications,any, anything you want to file
technically you can file on your own.
But things that I typically recommend.
Filing through an attorney are trademarkapplications just because there is
(25:38):
like a search process that we dothat if you don't do that, we could
file an application and like it canget refused for a number of reasons.
And then we've wasted probablyeight to nine months of waiting,
filing fees and then we have togo pay more on top to fix that.
So that's more of like a.Financial reason to at least
just start with a lawyer early.
(25:58):
As long as we've talked to a lawyerabout like an LLC or something
similar, I think there are filingcompanies that can form those for you.
If you're a single owner of a business.
It does get a lot trickier whenyou have multiple owners, so at
that point I definitely recommendlike having a lawyer involved.
But you can go through like a, afiling partner if, if your budget
(26:19):
is limited to file an LLC tofile a corporation if you need.
But again, we, they're notgonna give legal advice.
So you wanna really go into thatknowing like, okay, here's what I
need, here's what I want, this iswhat I'm paying for, contracts.
Probably should be attorney drafted.
At some point.
There's templates that a lot ofattorneys have, we have templates, a
bunch of other attorneys have templates.
(26:40):
I think creating your own contract isjust, it's nearly impossible to do unless
you have a lot of experience in it.
samantha-eck_1_03-25-2025_120449 (26:49):
Yeah.
Yeah.
No, I agree.
I think 'cause we don't know how to talk,like lawyers talk and there's like, it's
a diff, it's a different language almost.
So.
taylor-_1_03-25-2025_100449: It is, it's a, it's a. (26:59):
undefined
samantha-eck_1_03-25-2025_120449 (27:02):
Yes.
A lot of creatives and small businessowners just tend to avoid anything
legal because it feels reallyintimidating, but how can they kinda
shift that mindset to make it easierto approach lawyers or legal stuff?
taylor-_1_03-25-2025_100449: Yeah, I think. (27:17):
undefined
Ultimately finding lawyersor professionals that you
feel comfortable with?
Because I think the intimidating part,and I could be totally wrong about
this, but having talked to clients,I think the intimidating part is not
knowing what you need, but then alsoknowing lawyers do charge a lot.
(27:38):
So I think people don't wannaapproach those conversations
just immediately getting like.
All their, whateverbudget they had wiped out.
And so I think they're alittle fearful of that.
But there are a lot oflawyers, we do this too.
We charge flat fee forpretty much everything.
So, you know, going into it, whatyou're being charged, we're not
doing like an hourly, like randombill at the end of the month.
(28:01):
And we'll also like hop on aconsultation and assess out like what
a quote would be for a project so youcan see that you can budget it out.
And also finding lawyers that youfeel comfortable with, that you're
not feeling like they're just gonnacharge me for any little thing.
I like to think that we do a goodjob of like, I'll tell clients like.
Don't pay me to do this.
I think you can do this on your own.
(28:22):
Or like, I'll really do it if youwant me to, but this is my fee.
Versus if you wanna file this on your own.
So I think finding people that you'recomfortable with and, and know do
really have your best interest in mind.
Like, yes, there are things weneed, we do need to charge for.
There's a filing feesinvolved with everything.
There's long processes.
But I think feeling comfortable that, youknow, this person isn't trying to like.
(28:44):
Pull the wool over your eyeswith how much is being charged, I
think is really important factor.
samantha-eck_1_03-25-2025_120449 (28:51):
Yeah, and I think that kind of stands true
to like a lot of service providers.
'cause I think a lot of us arejust very like cautious about who
we put our money into nowadays.
So understanding and findingsomeone that you like connect
with a little bit more will makethat probably a little less scary
taylor-_1_03-25-2025_100449 (29:06):
yeah,
samantha-eck_1_03-25-2025_120449: For sure. (29:06):
undefined
taylor-_1_03-25-2025_100449: yeah, definitely. (29:07):
undefined
Absolutely.
Yeah.
That's across the board.
I. Like when we recommendother service providers.
I either make sure that I'm working,I have worked with them before,
samantha-eck_1_03-25-2025_120449 (29:19):
Yep.
taylor-_1_03-25-2025_100449 (29:19):
or that I know that they're at least super
honest and transparent, and they'lltell people like, yes, you need this,
or, no, you don't need this, or, youknow, here's how we can work together.
I think that's, that's reallyimportant, is really under, and not
being afraid to ask questions either.
Like I am never.
Upset when somebody wants to knowexactly, like if they're telling
me, I want my LLC, but I wannaknow exactly what you're doing.
(29:42):
I, I tell them, here'sa list of what we do.
Please go compare this to, if youwanna look at LegalZoom, if you wanna
go look at filing on your own, becauseI want them to see what's involved.
I want them to see the budget and thepricing for what's involved so that
they can appreciate like, this iswhat we're providing to you versus.
Here's what the middle ground is.
Here's what the do it yourself optionis, and once they're informed, I'm
(30:05):
like, yeah, make whatever decisionyou need to, like, I'm not gonna get
mad if you wanna do it on your own.
I, if you feel comfortable, like I'drather you save the money on that.
samantha-eck_1_03-25-2025_120449: Yeah, no, I feel the same way. (30:13):
undefined
'cause I've had clients come to me andbe like, Hey, like my CPA advised me to
become an S Corp or something like that.
And the one lady she made, I think itwas only like $10,000 profit that year.
And I was like.
There's, I was like,there's no way you're ready.
I was like, think of all the extracosts that you have to add on like
your payroll, things like that.
I was like, so I think that is true.
(30:34):
Like you really need to be just upfrontand honest, and that's such a huge
factor in making it a little less, alittle less scary and a little more
like, okay, I can work with this person.
taylor-_1_03-25-2025_100449 (30:45):
Yeah, I think that's just a generally better way
to go and I prefer to be like that too.
'cause I don't wanna deal, I don't wannadeal with a client in like two years
that's like mad at me for charging themsomething that they weren't aware of.
Like any little thing that we have to do,like we get permission from the client.
I'm like, Hey, we have to do this now.
It's gonna be this much,
samantha-eck_1_03-25-2025_120449 (31:05):
Yeah.
taylor-_1_03-25-2025_100449: if it's costing me more time. (31:05):
undefined
That.
I could be charginglike hundreds of bucks.
I'm like, Hey, client, I'mgonna charge you $50 to do this.
Is that okay?
Like I would rather have them becomfortable and know everything all the
way leading up because like nightmareclients are not fun for anybody.
And I don't think anybody wantsto deal with that situation.
I just prefer to be likeupfront and transparent.
samantha-eck_1_03-25-2025_120449 (31:28):
Yes.
So important.
Now, if someone today listening wantsto legally protect their business
but doesn't know where to start,what do you suggest is the first
step that they should take today?
taylor-_1_03-25-2025_100449: I think the three foundational (31:38):
undefined
things that we typically addressare what we talked about.
So you did a really good jobof covering those entities.
Trademarks and then also contracts.
I think if it's in a budget,schedule a chat with an attorney
so they can lay out what.
You're gonna need down the line so youcan at least start planning for that.
(32:00):
If it's in the budget to hire anattorney to like, do all this stuff.
Just get one on board immediately.
If you know that you can affordit and you don't wanna touch any
of this stuff, but if you're moreof like, I need to do it myself.
I think starting with those threefoundational things and working out
from there is a really good idea.
samantha-eck_1_03-25-2025_120449 (32:17):
Yes.
taylor-_1_03-25-2025_100449 (32:18):
and like myself and other attorneys,
I know we have a lot of freeinformation on social media platforms.
We have like freebies on oursites with a bunch of info.
So if you do wanna do it yourself,that is gonna mean you have to put
a little bit more work into it.
So like, download this stuff, likeeducate yourself a little bit and if
you're like, I don't wanna touch this,and maybe you do need to, to hire
(32:39):
somebody to do more of it for you.
samantha-eck_1_03-25-2025_120449: Yes, absolutely. (32:41):
undefined
Well, thank you so much for coming ontoday, Taylor, and sharing your knowledge.
I just love that you're empoweringother business owners to take
actionable steps with legal matters.
taylor-_1_03-25-2025_100449 (32:53):
you.
samantha-eck_1_03-25-2025_120449 (32:53):
can my audience connect with you, learn
more about you, or work with you?
taylor-_1_03-25-2025_100449 (32:58):
Yeah.
We are on most platforms aslegal Miga, L-E-G-A-L-M-I-G-A.
And then our site isjust legal miga law.com.
And we, I, I mean, I'm remote virtual,so those are typically the best ways
to either contact or learn about.
Whatever it is we do.
And we have a ton of informationand like freebies, if people just
(33:20):
wanna download and take a peekand see maybe what they need.
samantha-eck_1_03-25-2025_120449 (33:25):
Awesome.
Yeah, and we'll include whateverwe can in the show notes for you.
But thank you so much forcoming today and talking.
I really appreciate it.
taylor-_1_03-25-2025_100449 (33:33):
Thank you.
I appreciate it.
Thanks for having me.
samantha-eck_1_03-25-2025_120449 (33:36):
The truth is your business deserves protection
and you deserve to feel confident in howyou're running things behind the scenes.
Whether you're just getting startedor already growing fast, getting
your legal foundations in placecan be the exact thing that helps
you scale safely and sustainably.
If this episode helped you see the legalside of business in a new light, I'd
be so grateful if you'd leave a review,share it with a friend, or just DM me
(34:00):
and let me know what stood out to you.
And if you have more ideas for topics orguests like this, make sure to fill out
the form in the description box below.
And hey, if you're ready to take thenext step with your finances too, you
know I'm always here from CashflowStrategy to full on CFO support.
Let's build your business with intention.
Until next time, as always, havea wonderful rest of your week
(34:20):
and we'll see you next week.
Farewell fellow Travelers.
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