Here's what you need to know about business law topics

Key quotes:

• "Each state has separate laws regarding the formation of a corporate entity, so specific rules apply."
• "Corporate lawyers may focus on one area of the law and work only on cases involving their specialty."
• "The rules that govern corporate law generally favor these entities and make it possible for them to conduct business."
• "Corporate lawyers can represent either side during this type of structural change."
• "A corporation is a legal form that allows the entity to exert certain privileges when conducting business."
• "The corporation itself is a separate legal entity that uses the combined resources of the owners to function."

Key quotes:

• "For many, the idea of filing for bankruptcy after retirement may sound absurd."
• "Filing for bankruptcy can help wipe out debt and free up more money for paying bills, however, it’s not always a good option for seniors."
• "It’s not that they can suddenly take whatever amount from your IRA, 401k, or pension that is necessary to satisfy your debt, but they do have access to some of the money you are pulling from those retirement accounts."
• "When filing Chapter 7, anything you bring in from your retirement accounts that is above what you need to survive can be taken, and for Chapter 13 your monthly income from your retirement accounts will be factored into your 3 to 5-year repayment plan."
• "Social Security Benefits are handled similarly to retirement income in bankruptcy."
• "Creditors cannot simply seize your social security benefits, but once the money has hit your bank account it could be fair game."

Key quotes:

• "While there is no shortage of advice for those looking to start a business, startup founders often are still in the dark when it comes to common legal issues."
• "A good place to find out about your state requirements is www.sba.gov where you can find a list of small business assistance agencies in your area."
• "Non-courtroom approaches like negotiation, mediation, and arbitration can save you thousands of dollars, headaches, and lost business."
• "Instead, go out and talk to your community of small business owners and look for referrals to create a list."
• "Here are some tips on saving money on lawyer fees: Here are some services focused on the legal needs of startups: The services we’ve mentioned are all great and plenty of businesses vouch for them."
• "If you’re about to start talking to investors and potential business partners, you may want to look at a trusted firm like Walker Corporate Law."

Key quotes:

• "If you’re a startup trying to disrupt an existing business you need to read The Fixer by Bradley Tusk and Regulatory Hacking by Evan Burfield."
• "Congress often does not include all the details needed to explain how an individual, business, state or local government, or others might follow the law."
• "Cities/CountiesFinally, local municipalities (cities, counties) may have local laws and regulatory agencies or departments like taxi commissions, zoning laws, public safety, permitting, building codes, sanitation, drug laws, etc."
• "Each of these is an example of a startup disrupting regulated markets."
• "In the customer segments box, you’re going to discover that there may be 5, 10 or more different players: users, beneficiaries, stakeholders, payers, saboteur, rent seeker, influencers, bureaucrats, politician, regulators."
• "Rent seekers are individuals or organizations with successful existing business models who look to the government and regulators as their first line of defense against innovative competition."

Key quotes:

• "Stick To What You Know: If you know what field of law you want to practice, write an article on something in that field."
• "Here’s why: When submitting resumes and (more relevantly) writing samples, employers want to know that you know their practice area."
• "In this economy, it is advantageous to choose a topic on a growing field of law."
• "Even if after researching and writing the paper you find that the field is absolutely not for you, having a basic knowledge of something cutting edge may give you a leg up when interviewing."
• "So, if there is a field you want to practice in or a firm you want to practice for, consider writing a paper with a practical application for that field/firm."
• "(Example: How the new _____ statute will impact corporate mergers.) If you are looking into corporate law, a pertinent case note may get read when an attorney does research during case preparation."