Creative Business Attorney Insights

FAQs About Independent Contractors and 1099s

by Matthew Murillo | Mar 21, 2019 | Business, CBL, NLBM

With the rise of the “gig economy” and so many people now working as independent contractors (ICs), as opposed to full-time employees, you should be well-familiar with the rules and requirements for the tax form known as a 1099. A 1099 is designed to document and...

Protecting Your Intellectual Property Early On Is Vital

by Matthew Murillo | Mar 14, 2019 | Business, CBL, NLBM

When it comes to intellectual property (IP), you’re probably familiar with things like patents, trademarks, and copyrights. Yet, these are just terms describing how businesses can legally protect certain types of IP. Though such terms offer a general idea about what...

3 Big Breaks Trump’s New Tax Law Offers Small Businesses You May Have Missed

by Matthew Murillo | Mar 7, 2019 | Business, CBL, NLBM

As you’ve undoubtedly heard by now, the 2017 Tax Cuts and Jobs Act (TCJA) is the most sweeping change to the U.S. Tax Code in more than 30 years. And while the legislation provides many of the biggest breaks to large corporations, it offers numerous benefits to...

Navigating State Laws Governing Business Names

by Matthew Murillo | Feb 28, 2019 | Business, CBL, NLBM

One of the coolest parts of owning a business is getting to come up with its name. On the creative side, you’re choosing a name to represent and encapsulate the essence of your life’s work. On the practical side, you’re trying to come up with something that will most...

Covering Your Assets: Liability Insurance & Limited Liability Entities

by Matthew Murillo | Feb 21, 2019 | Business, CBL, NLBM

It’s estimated that one-in-three small businesses is sued or threatened with a lawsuit at some point in its life cycle. And even if you end up winning the suit, the price of defending yourself in court can be massively expensive in terms of lawyer fees and court...

Understanding Business Law for Creative Professionals

Business law encompasses a wide range of legal issues that can affect creative professionals, including contract law, intellectual property rights, and employment law. Understanding these areas is crucial for creatives to protect their work and ensure compliance with regulations.

For instance, a graphic designer must navigate copyright laws to safeguard their designs from unauthorized use. Likewise, filmmakers should be aware of contract agreements with actors and crew to ensure that all parties are legally protected throughout the production process.

The Importance of Contracts in Creative Industries

Contracts serve as the foundation for any professional relationship in the creative industry. They outline the expectations and obligations of all parties involved, helping to prevent misunderstandings and disputes.

For example, a freelance photographer should have a contract with clients that specifies payment terms, usage rights, and deadlines. This not only protects the photographer's work but also clarifies the client's rights, fostering a professional and transparent working relationship.

Intellectual Property Rights: A Guide for Creatives

Intellectual property (IP) rights are essential for creatives to protect their original works from infringement. Understanding how to register and enforce these rights can significantly impact a creative business's success.

For instance, artists should consider trademarking their brand names or logos to prevent others from using them without permission. Additionally, knowing how to file for copyrights can secure the rights to their creative outputs, allowing them to monetize their work effectively.

Navigating Tax Obligations for Creative Entrepreneurs

Tax obligations can be complex for creative entrepreneurs, especially those who operate as independent contractors or freelancers. Understanding these requirements is vital to avoid penalties and ensure compliance with the law.

For example, creatives need to be aware of the necessity to file estimated taxes quarterly, as well as the implications of the new tax laws on deductions for business expenses. Consulting with a tax professional who understands the unique challenges faced by creative businesses can provide valuable guidance and support.