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MyOwnBusiness Institute

Management and Organization

Choice of Business Entity and Information

Christine Benik uses the analogy of the Three Little Pigs to help give entrepreneurs a very simple and baseline understanding of the four major types of business entities: Sole Proprietorship, Partnership, Limited Liability Companies (LLC), and Corporation.

What Every Entrepreneur Needs to Know About Intellectual Property

Herbert "Teddy" Patty, patent attorney of The Law Office of Herbert T. Patty, analyzes the different problems that may arise regarding intellectual property in this age of information and provides advice about the way to deal with intellectual property issues. 

Planning for Surprises

When starting a business, you have to prepare for future problems. Daniel Nathanson, Ph.D from UCLA Anderson Graduate School of Business, provides examples of actions you could take that can help you prepare for future surprises. 

Partnerships, LLCs, Corporations What’s Best for Your Business

One of the most important steps when starting a business is deciding on the right form of your business. Laura Norris, J.D., an Assistant Clinical Professor and Director of SCU Entrepreneur's Law Clinic, provides advice on which form your business should take. 

How Should Store Managers Be Compensated?

Phill Holland, the founder of MOBI, outlines the process of compensating the managers and the way in which a business should organize their accounting periods. 

Importance of Business Experience and Training

What experience and training should an individual have before starting a business? Steven Morgan, ED.D, President at the University of Laverne, uses his career experience to detail the importance of learning as much as possible about the business before embarking. 

Building a Team in Business

Daniel Nathanson, Ph.D. from UCLA Anderson Graduate School of Business, explains the importance of building a team before starting a business. He gives important tips on what to look for in business partners and the role they play in attracting investors. 

Business Partnership Agreements 

Daniel Nathanson, Ph.D. from UCLA Anderson Graduate School of Business, gives important tips to new entrepreneurs about the proper steps that should be taken when forming an agreement between business partners. No one expects the worst, but a business partnership agreement can save your business if things go wrong.

BusinessTown: Which Insurance Does My Business Need? originally appeared on BusinessTown

From property and liability coverage to workers' comp, discover the different types of insurance your small business needs and why.

BusinessTown: How to Create an Income Statement for your Business originally appeared on BusinessTown

Learn how to create income statements (also called profit and loss statements) and understand why they are important for your business.