As we often say, your YouTube channel is the heart of your brand … and the brand must be protected. You start by forming a corporation or an llc, you apply for an EIN (employer identification number) with the IRS, you open up a commercial bank account, get a company debit card and setup a an account with a commercial accounting service (like QuickBooks).
Forming a company is necessary for the protection of your brand, but it is not sufficient. You must appropriately setup a commercial banking accounts and properly account for company expenses and revenues using an accounting software. The law looks to see if your company is genuine or just an alter ego of yourself. If you don't take the necessary steps, the company formed will be disregarded and you and your brand will be open to liabilities and lawsuits.
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2017 LEGAL TASK LIST
Some videos that might interest you:
Should I Incorporate my YouTube Channel? https://youtu.be/Sp8L5g2Lzks
How to Incorporate Your New Tech Company? https://youtu.be/tFIssaIHqXg
Does my YouTube Company need to issue me Stock? https://youtu.be/KjUcWzql7SA
How to Decide between a YouTuber Corporation or LLC? https://youtu.be/Vxcy57TPJXk
YouTubers Must Separate Themselves From their Companies https://youtu.be/VkyrWvy_j8c
YouTubers Must Separate Assets from Expenses https://youtu.be/F990dBmZJQY
How Do Startups YouTuber Companies With No Cash Pay for Expenses https://youtu.be/YVlvmRtGeHg
How to Trademark YouTube Channel Name https://youtu.be/mFnrvCGaRf4
YouTubers You Don't "NEED" to Trademark your Channel's Name https://youtu.be/p4Pc7V1mtd4
YouTubers Don't Share - Don't Speak w/o an NDA https://youtu.be/yrwAbK9dvto
Make Money On YouTube, Part 2, Establish 2nd Stream of Income to a Channel https://youtu.be/TY9pgVPD3Yk
How YouTubers Negotiate Speaking Engagements https://youtu.be/ZWHNuCCQO3I
Top 5 reasons you MUST use a letter of intent to raise money for your company https://youtu.be/gxT3b0-2K6c
The Second series of issues that my TaskList identify is the brand. Do you know what it is? Is this the name of your channel or some other name you use when identifying your videos with? Do you have a separate brand name under which you plan on selling products or services?
What ever your Brand is, is it protected? It makes no sense to invest so much time and effort in the channel and then not protect the Brand. Have you filed for registration with the USPTO? Under what classes did you file your registration? Did you at least file an intent to use application reserving your Brand for later use?
The next series of tasks I identify is revenue growth. How will we grow our YouTuber company? Will we need outside investments? Will we rely on AdSense or will we build ancillary and complementary businesses?If we’re relying on advertising, should we join a network? If we are building other businesses, are we forming separate companies for each of these complimentary businesses. If we’re searching for opportunities to make money off of our the Brand, are we engaging a manager? We have to ask each of these questions and we have to be prepared when setting up the legal relationship with each of these decisions.
I want you to understand that there are many issues we need to deal with over the next 12 months. We have time, but we need a plan. Absent a plan, this year will be just like last with nothing accomplished.
So now … go to the link provided and download the 3 page task list. It includes tasks involving
- Occupational Licenses
- Accounting Software
- Licensing Software
- Insurance and Warranty
- Growth Funding
- Brand Management
- Brand Development
- Filming Rules
I hope that you find the task list and plan for the next 12 months useful. I’ve charted out my tasks and plan on following through one by one. And where an I personally starting … the formation of the YouTuber company, banking and setting up the accounting software. Everything else flows from that.
... and as always, if you have any questions just leave me a comment below.
Lior Leser, Esq.
Technology, Internet and Software Law
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