
Ask HN: What legal knowledge is important for entrepreneurs? - ajmurmann
What legal areas have you found relevant to you as an entrepreneur? How did you learn about it and how deep should you go? Book recommendations of course are also highly welcome. Thank you all in advance!
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jeffmould
1) Best business advice I ever received was to put an attorney on retainer.
Best money you will ever spend. Being able to have someone who is available to
answer questions from time to time or provide advice is worth the price.

2) Having a general understanding of basic business structure. Knowing the
basic difference between an LLC, C-Corp, S-Corp, and sole proprietor is good.
You don't have to know all the differences or legal intricacies, but having a
general idea of the difference is good.

3) Depending on your hiring plans, some knowledge basic employment law can be
helpful.

4) Basic tax laws and filing requirements for your state. Do you need a
business or professional license? Are their quarterly, annual filings
required? When are they due?

Not sure of a book, most you will learn over time, but a general intro to
business book may be helpful. Because laws can vary by state and even county
or city, it will be tough to find one source for everything. That is why #1
above is important in my book. Unless you are an attorney it is almost
impossible to know all the laws. You can easily fall victim to the "know
enough to be dangerous" theory when it comes to law or accounting. It's good
to understand what they are talking about at a high level, but let the
professionals handle the details.

