When you start your internet marketing business, just about the only thing on your mind is making a profit. After all, that’s why you are starting a business, right? Next on your list is exactly how you are going to do that. You have to find your market niche, develop or find a great product or service, and reach the right people with your marketing campaign. But there is something you forgot to add to your business plan: the legal aspects.
I am not a lawyer, and I have no legal background whatsoever, but I do know that ignorance of the law is not an excuse for violating them. You should consult with a lawyer when you are setting up your business, not only for educational purposes, but to be sure that you know all of your options and how to say out of legal trouble.
For example, which business entity do you want to function under? You can choose to be a sole proprietor, a partnership, a Limited Liability Corporation (LLC), or you can incorporate. There are benefits and drawbacks to each one. A lot of small businesses choose the LLC because it is inexpensive to set up, and helps to protect personal assets in case of any problems. But that is a matter for you to discuss with your lawyer and your tax professional.
Your lawyer (preferably one well-versed in internet business) can tell you how to be FCC compliant with your internet marketing business. For example, avoiding high risk niches such as gambling, adult content, or medical is a start in the right direction. Niches that are notorious for law suits or scrutiny by the FCC should send up red flags in your mind. Never assume that you can remain under the FCC’s radar, but always assume that you are on it. Make sure you are in compliance with the law.