Congratulations to StartSmart Counsel Managing Attorney Jennifer  for being appointed as a member of the SEC’s Small Business Capital Formation Advisory Committee. The Committee was established by the SEC Small Business Advocate Act of 2016 and is designed to provide a formal mechanism for the Commission to receive advice and recommendations on Commission rules, regulations and policy matters relating to small businesses, including smaller public companies. The Committee is comprised of an experienced and diverse set of companies, advisors, entrepreneurs, and investors who will advise the Commission on facilitating capital-raising opportunities for small- and medium-sized businesses and expanding investment opportunities for retail investors. Please see the SEC press release for a full list of the Committee’s inaugural members as well as more information about the Committee:  The U.S. Securities and Exchange Commission Press Release

As the holiday season approaches, retail businesses of all sizes are preparing for the year’s busiest time. Along with stocking shelves and amping up promotions, it’s crucial to have clear and compliant refund and return policies in place. These policies help set customer expectations, streamline processes, and protect your business from potential misunderstandings. Plus, compliance with the Federal Trade Commission (FTC) rules is essential to avoid hefty fines and maintain consumer trust.

Here’s how small-to-medium-sized retail enterprises (SMEs) can get their refund and return policies holiday-ready while ensuring FTC compliance.

Starting a business comes with crucial decisions, one of which is choosing the right business structure. For many startups, the choice boils down to either a Limited Liability Company (LLC) or an S Corporation (S-Corp). While both offer liability protection and certain tax benefits, each has unique advantages that may be better suited for different business goals. Here’s a guide on how to determine when an LLC might be the right choice over an S-Corp.

As live chat features become increasingly popular for businesses, staying compliant with privacy laws is more important than ever. Consent is the key to avoiding legal complications. Whether you operate in a two-party consent state or simply collect customer data for business purposes, it’s essential to be transparent about your chat practices and obtain the necessary consent from users.

While ChatGPT can be a helpful tool for drafting simple documents or providing a starting point, relying solely on it to write your contracts is a risky move. A contract is more than just a set of terms—it’s a legally binding agreement that can have long-lasting financial and legal consequences. Always consult with a qualified attorney who understands the nuances of your business and the law to ensure that your contracts are enforceable, reasonable, and aligned with your business objectives.

As the year comes to a close, startups and small-to-medium enterprises (SMEs) must prioritize wrapping up their financials, evaluating business performance, and most importantly, ensuring they are legally compliant. Year-end is an excellent time to address key legal and compliance issues to avoid penalties and start the new year on the right foot. Here’s a comprehensive checklist for startups and SMEs to navigate the often-overlooked legal matters before the year's end.

Natural disasters like Hurricane Milton can have far-reaching effects on businesses, particularly for startups and SMEs that may not have extensive resources to fall back on. Understanding how to navigate disruptions within the framework of your contracts is crucial to ensuring business continuity and avoiding legal pitfalls.