Working a side hustle or having a portfolio career has become very commonplace, whether you’re doing odd jobs to make ends meet or expanding your experience despite being a successful professional. But there are many legal considerations that come with a portfolio career, so before you embark on your side hustle, consider these potential conflicts.
Plenty of people start businesses that aren’t right for institutional investment but require additional funding to get to the next level. Angel investors are a great resource in that scenario. An angel investor, by definition, is a person who invests his or her own money into an entrepreneurial company. The term “angel” was originally used to describe investors in Broadway shows, but has since been expanded to general business. Unlike institutional investors like venture capitalists who invest other people’s money, angel investors are generally involved in the very early stages of a company and because they invest their own personal money, a typical angel invests less than $1 million. Below are some considerations when preparing to approach angel investors.
Planning a wedding? Or an elaborate party for your child’s first birthday? Maybe a milestone birthday for your spouse? You’re probably hiring vendors either without a contract or without reading the contract before you sign. While most vendors are legit, here’s what to look for in vendor contracts in case of a disastrous experience.
Running a household is a lot of responsibility. Most of us delegate out some household work to third parties like housekeepers, gardeners, or babysitters and nannies. And most people tend to pay cash for these and think nothing of the relationship. But in California, these are usually classified as domestic workers and are subject to various tax and employment laws.
It happens all the time. You and your spouse are chatting over pizza one night and an app idea pops into your head. Or your sister pitches you to invest in some real estate with her. Maybe a friend asks if you want to partner on a cool new business she’s been wanting to start up. Or maybe your parents offer up a position for you in their business when you finish college. Whatever the situation, it is all too common that these businesses get going informally, and this can create major problems if the business grows, or worse, if the business goes south. Going into business with family or friends is always risky, but when done right, it can be quite rewarding. Consider these as your starting point when starting a family business:
Starting a family is an exciting, chaotic, adventurous time. Sometimes it’s planned. Sometimes it’s a pleasant (or terrifying) surprise. In all cases, it results in the creation of a life for whom you are physically, emotionally, financially, and legally responsible. Super exciting to take that on, right? There are enough challenges to being a new parent, so follow these steps to tackle the basic legal considerations that arise when you start a family.