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Speaker 1: Hey guys. Before we begin this week's episode, two things

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Speaker 1: really quickly, please make sure to support the PhD podcast

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Speaker 1: by clicking the Patreon link in the show notes. Um,

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Speaker 1: listening to this episode on an iPhone, please make sure

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Speaker 1: enjoyed this week's episode. Until next time later, Welcome you

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Speaker 1: are now listening. Yell hey, guys, Welcome to this week's

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Speaker 1: episode of the PhD podcast. This is your girl at

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Speaker 1: eban A and as always, I am super excited about

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Speaker 1: this week's episode. Um, before we begin, you know the routine,

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Speaker 1: let's do a little housekeeping. Please make sure to follow

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Speaker 1: me on Instagram at the Professional home Girl at the

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Speaker 1: PSD podcast. And last but not least at eban a beauty.

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Speaker 1: Please make sure to follow me on Twitter at th

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Speaker 1: the website some love at www dot the PhD podcast

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Speaker 1: dot com. And last of at least, If you have

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Speaker 1: any questions, comments, or concern please make sure to email

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Speaker 1: me at Hello at the HG podcast dot com. Now,

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Speaker 1: please keep in mind that all of my guests are anonymous.

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Speaker 1: So let's begin this week's episode. So to my guests,

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Speaker 1: how are you feeling. I'm good. I'm good. I mean,

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Speaker 1: you know, making it through the entire coronavirus and let's

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Speaker 1: just trying trying to say it flow. Please don't get

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Speaker 1: me started with COVID nineteen. I'm so annoyed. It's you know,

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Speaker 1: it's a lot, it's a lot to deal with. Um,

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Speaker 1: it's so unexpected and things are just changing. Like I

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Speaker 1: keep on telling people, like life is never gonna be

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Speaker 1: the way it was before. Yeah, exactly, like we never

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Speaker 1: expected this. It just you know, hit us for a whirlwind.

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Speaker 1: And now it's to the point where it's like for

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Speaker 1: the next five is she is things are just gonna

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Speaker 1: be totally different. So I'm just rolling with the punches.

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Speaker 1: Trying to still make sure I empower by you know,

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Speaker 1: clients and following and stuff like that. But yeah, I'm okay,

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Speaker 1: thank god, I totally feel you. Well, I just want

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Speaker 1: to say thank you so much for taking the time,

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Speaker 1: not your busy schedule to speak with me. And the

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Speaker 1: ship has some free legal gyms with my guests, but

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Speaker 1: those I didn't know. I have an NBA and general

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Speaker 1: management and entrepreneurship. So this episode is like really super

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Speaker 1: special to me because I really want to have power

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Speaker 1: everyone that's listening with your legal gym. So thank you,

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Speaker 1: no thanks for having me. So let's start from beginning. Now,

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Speaker 1: what exactly do you specialize in? So I am what

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Speaker 1: I consider a brand protection attorney. I kind of made

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Speaker 1: that up, but um, there are a couple of attorneys too,

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Speaker 1: are we all consider ourselves being protection at Chinese? But

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Speaker 1: I am an attorney for creatives and entrepreneurs. I specialize

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Speaker 1: in trademarks, copyrights, UM, which is considered intellectual property. I

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Speaker 1: do contracts of all facets. I also help you form

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Speaker 1: me a business and just overall legal business consult and

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Speaker 1: so I am an attorney that's going to help you

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Speaker 1: just get all your legal ducks in the world when

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Speaker 1: it comes to your business and ensuring that you're protecting

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Speaker 1: the business that you're growing. And how long have you

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Speaker 1: make practicing law? So I've been practicing law for four

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Speaker 1: years and I've been out on my own for two years. Nice,

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Speaker 1: So would you consider yourself entrepreneur as well? I am.

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Speaker 1: I am an entrepreneur. Um, I've in my own firm,

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Speaker 1: So yes, I'm an entrepreneur. I understand. Yeah, I understand

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Speaker 1: the struggles of, you know, having a small business. I

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Speaker 1: understand the struggles of, you know, starting from the ground.

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Speaker 1: I did come from a background where I worked in

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Speaker 1: a corporate law firm, so I did do a lot

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Speaker 1: of corporate work and came from a larger you know,

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Speaker 1: from a larger scale, and then scaled it down back

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Speaker 1: to my community, which are my entrepreneurs and creatives. So yes,

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Speaker 1: I am in the trenches with everyone else. I tell

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Speaker 1: all of my clients, I get it. I understand because

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Speaker 1: the same things that every other business is going through,

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Speaker 1: I am also going through that with my law firm,

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Speaker 1: good or bad. But you know, we all have the

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Speaker 1: same thought processes, we all have the same systems that

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Speaker 1: we use. We all have the same ideals. So that's

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Speaker 1: what kind of sets me apart from working with a

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Speaker 1: large corporate law firm because sometimes they just don't get it.

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Speaker 1: I am the person that gets it because I'm living

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Speaker 1: and eating and breathing it day by day with all

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Speaker 1: of my clients and the entrepreneurs that I serve. I know,

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Speaker 1: you may a comment on your side about the old

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Speaker 1: school lawyer. People just don't get creatives and entrepreneurs like

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Speaker 1: a straight path, like there are so many twists and turns.

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Speaker 1: There's so much twists and turns. There's so much things

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Speaker 1: that you have to kind of bends a little bit,

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Speaker 1: especially when it comes to the law. UM, when you're

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Speaker 1: dealing with a certain type of clients. So for example, UM,

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Speaker 1: in my corporate firm, when we used to issue contracts,

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Speaker 1: the contracts used to be like a treatise, like you know,

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Speaker 1: they'd be like seventeen pages where the content and written

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Speaker 1: in Old English and wouldn't actually speak to certain things

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Speaker 1: such as like social media promotion and stuff of that nature.

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Speaker 1: And now because of the market that I'm dealing with,

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Speaker 1: I have to make number one contracts that are readable

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Speaker 1: because we are not um, you know, we're not in

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Speaker 1: the business of having these long contracts that by the

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Speaker 1: time you get to page five you don't really remember

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Speaker 1: what page one says, number two, number two. We're not

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Speaker 1: in the business of having these contracts that are written

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Speaker 1: in a bunch of legal terms, because we want to

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Speaker 1: make sure that we understand, Like as a business owner,

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Speaker 1: you know, you want to make sure you understand your contracts,

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Speaker 1: your clients understand your contracts, and you're able to use

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Speaker 1: it over again and again. Um, we also want to

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Speaker 1: bring in social media aspects. I know, social media. They're

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Speaker 1: a major part and every single business there is not

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Speaker 1: one functioning business right now that does not have an

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Speaker 1: aspect of their brands that is focusing on social media.

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Speaker 1: So I incorporate social media into almost every single contract.

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Speaker 1: I mean, if it boils down to you have to

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Speaker 1: post at a certain time, or you have to use

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Speaker 1: this hashtag when you're tagging me, or you have to

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Speaker 1: you know, submit the original photos to social media and

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Speaker 1: don't put the filters. You know, all of these minute

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Speaker 1: things that sometimes the quote unquote old schoolers as I

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Speaker 1: call them, don't really understand that it's so important. Like,

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Speaker 1: so that's kind of how I bring my approach to

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Speaker 1: where where I understand what is happening. I know what's

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Speaker 1: going on. I'm actually on social media there with everyone,

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Speaker 1: so I get it, and I get what my business

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Speaker 1: owners want and what they need. So I am not

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Speaker 1: bringing a kind of new innovative approach to the aw

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Speaker 1: that's not sexy. That's what I'm talking about. Um, why

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Speaker 1: did you want to become a lawyer for entrepreneurs? So?

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Speaker 1: UM at the backgrounds about where I came from. I

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Speaker 1: went to law school, wanted to be a criminal lawyer,

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Speaker 1: got to law school, realized this isn't for me. Um. Yes,

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Speaker 1: I do love to help people, but I was just

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Speaker 1: so emotionally attached to what was going on with some

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Speaker 1: of these criminal cases that I did not think that

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Speaker 1: would be healthy for me, you know, mentally physically, to

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Speaker 1: be so emotionally attached, um to the outcome of the case.

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Speaker 1: So while in law school, UM, some people do know

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Speaker 1: some people don't know that. You don't really need to

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Speaker 1: have a specialty. So you can go in there with

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Speaker 1: a general idea of what you want to do, and

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Speaker 1: as you're in the trenches, you kind of figure out

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Speaker 1: your path, You figure out which way you want to go,

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Speaker 1: and so on. Um, backtrack a little bit. Before I

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Speaker 1: got to law school, I was a retail manager a

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Speaker 1: forever twenty one. Now, I was one of those people

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Speaker 1: that loved retail like I lived, breathe slept retail. Yes,

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Speaker 1: I loved it. I loved what I did. I loved

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Speaker 1: to learn the inner workings of the business. So as I,

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Speaker 1: you know, got my job, I quickly moved up from

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Speaker 1: a cashier to what they considered like what was it

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Speaker 1: like a key older? Yeah, yeah, like a keyholder. Um,

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Speaker 1: I forgot what they be called it. And then I

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Speaker 1: became a manager. All within like five months of being there.

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Speaker 1: With being a manager, I started to become very intertwined

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Speaker 1: with the operations of the business. So anybody who comes

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Speaker 1: to a retail background knows that you are, as a

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Speaker 1: retail manager, not only there overseeing the associates, you were

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Speaker 1: also behind operations. U manager. When I say I loved it,

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Speaker 1: I loved it. Um. So from my love of that

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Speaker 1: and then meeting individuals who were in the retail legal fields,

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Speaker 1: who were in the business legal field, I realized that

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Speaker 1: my love for the operations behind the retail business is

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Speaker 1: just the operations behind every single business. Plus my love

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Speaker 1: with the law kind of meshed together and brought me

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Speaker 1: into this whole sector of being an attorney for businesses.

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Speaker 1: So essentially, I started off with corporate businesses UM at

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Speaker 1: my law firm, and then I realized that the same

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Speaker 1: ideals that corporations are using, I can scale that down

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Speaker 1: and provide my small business owners and creatives and entrepreneurs

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Speaker 1: the same, you know, the same ideals and the same opportunities.

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Speaker 1: So that it's kind of how I went into it.

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Speaker 1: I went in from a retail background, just a love

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Speaker 1: for real today operations and also love for the law,

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Speaker 1: and have found a way to mix the two and

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Speaker 1: create what is known as my brand today. No, that's

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Speaker 1: really dope, and I feel like there's not a lot

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Speaker 1: of um, there's not a lot of attorneys that specializes

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Speaker 1: in UM entrepreneurship and creators and helping them protect their brand. Yeah,

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Speaker 1: it's a very it's a very niche market, um just

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Speaker 1: for I mean, I don't know why. I was going

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Speaker 1: to give a reason why, but then I'm just like, wait,

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Speaker 1: I don't know why. Um yeah yeah, So I was

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Speaker 1: just like, wait, yeah, but I don't I actually don't

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Speaker 1: know why. It's a niche market, but it's also very needed.

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Speaker 1: And I realized that there was a void that I

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Speaker 1: had to fail UM because there was not anyone uh

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Speaker 1: and there were a couple, but there weren't a great

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Speaker 1: amount of people that I saw that we're honing in

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Speaker 1: on this small business community, this entrepreneur this startup community.

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Speaker 1: So there there have been an influx of like, you know,

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Speaker 1: accountants for startups and UM business coaches for startups, and

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Speaker 1: all these startup incubators were happening, and you know, all

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Speaker 1: of these uh shared workspaces like look at we work

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Speaker 1: like there were all these shared work spaces for startups.

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Speaker 1: You know, there were all of these things that were

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Speaker 1: being formulated for startups and small businesses. Yet the legal

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Speaker 1: field was like five steps behind these startups who had

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Speaker 1: much less capital, who probably wanted to work with their

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Speaker 1: peer rather than someone who was a little bit more

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Speaker 1: far removed. Too much going on in the league UM,

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Speaker 1: in the startup community right now, they were still having

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Speaker 1: to you know, take a big chunk out of their

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Speaker 1: budget to go to the bigger corporate firms similar to

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Speaker 1: where I came from to get this assistance. And when

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Speaker 1: they were going there, it wasn't always they weren't always

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Speaker 1: being provided outequate service because sometimes the best they didn't know.

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Speaker 1: You know, sometimes you'll go to these individuals and don't

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Speaker 1: get me wrong, they have been seasoned attorneys and they've

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Speaker 1: been doing this for a long time, but then they

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Speaker 1: don't understand small things such as, yes, your your business

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Speaker 1: does not need to be making you know, a million

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Speaker 1: dollars in revenue to apply for a trademark, and you know,

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Speaker 1: so to the ideals that were being projected to these

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Speaker 1: small companies weren't tailored to their size. They were just

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Speaker 1: like a one size fits all for Hey, you know,

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Speaker 1: we're going to tell givearty a large you know, fortune

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Speaker 1: five company, this is the trajectory that you take, and

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Speaker 1: then we're gonna also tell my my painters and the artists,

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Speaker 1: this is the same trajectory that you take and you

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Speaker 1: follow in the same footsteps as this fortune five hund

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Speaker 1: a company, And sometimes it just doesn't work like that. So, um,

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Speaker 1: I just I realized the need. I realized it was

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Speaker 1: a niche market. I also realized that they weren't really

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Speaker 1: getting what they deserved. And that's kind of how I

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Speaker 1: came across um this field. And you know, I guess

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Speaker 1: that's yeah. Well by doing it, I know you've been busy.

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Speaker 1: So what doesn't look like Yeah, I can imagine what

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Speaker 1: does they look like for you? So, UM, my average

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Speaker 1: day is different every single day as you. Uh No,

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Speaker 1: no business, especially small businesses, run the same. So I

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Speaker 1: have been fortunate enough to have team members who do

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Speaker 1: assist in who do help UM. So at the beginning

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Speaker 1: of each day, first and foremost, I always try to

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Speaker 1: read a little bit um whatever book it is I'm

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Speaker 1: reading at the time. Uh. Doesn't always happen, but I

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Speaker 1: try sometimes since as I do actually wake up later

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Speaker 1: than expected, so I don't get to read what I

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Speaker 1: want to read. UM. So I do try to read,

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Speaker 1: and then I always check in with my team members

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Speaker 1: just so we have understanding on what is on the

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Speaker 1: agenda for the day. So I do, I'll check in

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Speaker 1: with my team members, and then I'll get to work. UM.

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Speaker 1: Things are a lot different now that it's worked from home.

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Speaker 1: When I was working UM in my office, there was

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Speaker 1: there's certain days that some of my team members would

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Speaker 1: come in and would not come in, so sometimes they

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Speaker 1: did work remotely also. But it was a little bit

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Speaker 1: different for me because I would actually travel to the office.

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Speaker 1: Now I'm not traveling to the office. I'm traveling to

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Speaker 1: uh my living room. Yes, I'm traving to my living

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Speaker 1: room which has now turned into my office. Um but

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Speaker 1: as far as work wise, literally every single day is

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Speaker 1: different because every day scients have different needs and different

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Speaker 1: things that I need to you know, tackle for them.

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Speaker 1: So any given day I might have like you know,

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Speaker 1: two to three calls per day. I'll hop on social

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Speaker 1: media for a little bit, I'll answer d M s,

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Speaker 1: I'll go in, i will engage with any comments that

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Speaker 1: I have. I always do try to post every single day.

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Speaker 1: Like I said, it doesn't always happen as well, um

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Speaker 1: but I I A big chunk of my day is

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Speaker 1: also answering emails. So I answer all my emails throughout

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Speaker 1: the day and then believe it or not, and my

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Speaker 1: clients know this. You most of my work is done

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Speaker 1: in the nighttime, So myoal work is done from the

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Speaker 1: hours of like seven pm two give or take one

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Speaker 1: in the morning. It really really odd hours because I

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Speaker 1: try to schedule my day that I am very available

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Speaker 1: during the business hour is when people normally contact me.

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Speaker 1: So I'm following up with emails following up with calls, answers,

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Speaker 1: me more accessible stuff, being more accessible throughout those hours,

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Speaker 1: and then I take the later part of the day

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Speaker 1: two then do all my legal work, do all my

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Speaker 1: legal research and stuff, and then also being accessible for

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Speaker 1: my team. Also because my team, UM, my intern and

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Speaker 1: my paralegal, they'll sometimes have questions and I always want

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Speaker 1: to make sure I am there to answer any of

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Speaker 1: those questions throughout the day. So legal work happens in

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Speaker 1: the night, which is very I hear a lot of

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Speaker 1: attorney students too, but legal work for me happens in

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Speaker 1: the nighttime. And what I do is then I do

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Speaker 1: things late at night or early in the morning. Sometimes

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Speaker 1: I'll wake up at like five o'clock and I bat

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Speaker 1: to send emails at eight. So any given morning there

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Speaker 1: will be twenty emails that will go out at eighty.

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Speaker 1: So a lot of works being an entrepreneur, Yes, any

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Speaker 1: given morning especially m hmm, it is it is a lot.

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Speaker 1: So um yeah, So you know, every day, there's no

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Speaker 1: typical way that my day goes. I do try to

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Speaker 1: schedule things, um as far as my calls, meetings, check

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Speaker 1: up with clients and stuff like that. I schedule it

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Speaker 1: throughout the day. But I am just kind of rolling

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Speaker 1: with the punches sometimes each day just because things change

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Speaker 1: so quickly for me. Um, you know, yet today something

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Speaker 1: could happen and then tomorrow it's like shifts the whole

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Speaker 1: trajectory of what I need to do for the day.

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Speaker 1: So and also it's a very long winded, but my

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Speaker 1: days are never predictable. Yeah, it's never the same like, hey,

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Speaker 1: you come in, you do this, this, that In the

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Speaker 1: third because I also, like I said, I'm very very

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Speaker 1: big on show going up for my clients and being

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Speaker 1: there there when they need me. You know, as you're

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Speaker 1: running a business and as an entrepreneur, there are so

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Speaker 1: many things that happen, and I just want to make

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Speaker 1: sure that me as the attorney, can be there to

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Speaker 1: give your answers. So if you're having a panic attack,

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Speaker 1: you know, if there's something going on, if you find

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Speaker 1: that someone has sued your business, or you know, whatever

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Speaker 1: is happening. I just want to make sure that I

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Speaker 1: am not you know, blocking out long periods of time

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Speaker 1: out of my schedule to not be available from my

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Speaker 1: clients that I continue to serve. See, this is that

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Speaker 1: person you need to be working with. These people'll be

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Speaker 1: finding on Instagram, no giving you advice on things that

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Speaker 1: they think they may know. Like, you need the people

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Speaker 1: that know exactly what they're doing and actually care, especially

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Speaker 1: you're gonna be spending money like exactly, exactly. Yeah, And

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Speaker 1: that's and that's my big thing, Like outside of just

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Speaker 1: doing work and whatever, I actually care. So I care

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Speaker 1: what happens to that. I am passionate about this. I

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Speaker 1: have a a lot of my clients can attest to this.

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Speaker 1: I send like random emails, random text messages, and sometimes

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Speaker 1: it's like after we're finished working together, or it's even

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Speaker 1: before we finished working together, I mean before we start

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Speaker 1: working together, or I'll see something on Instagram and I'm like, hey,

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Speaker 1: you know, I really love that product whatever. I just

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Speaker 1: always want to be here, not as a resource, but

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Speaker 1: kind of as somebody that you know you can always

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Speaker 1: go to in the event something happens, Like I genuinely care.

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Speaker 1: I genuinely care. So it's not like like you said, uh,

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Speaker 1: you gotta be careful sometimes with who you find on

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Speaker 1: social media. But I always tell people like I'm I'm

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Speaker 1: here to help in any way, shape or form possible,

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Speaker 1: whether it's legal, non legal, into one. I am here

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Speaker 1: to help you well for me with this question I'm

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Speaker 1: about to ask you. I think the reason why I

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Speaker 1: was a little skeptical about hiring a lawyer is because

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Speaker 1: I'm really big on working with people that look like me,

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Speaker 1: especially women. So why do you think entrepreneurs are skeptical

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Speaker 1: skeptical about hiring a lawyer. I don't. Yeah, yeah, I

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Speaker 1: think it's a number of reasons. Um. Number one, they

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Speaker 1: want somebody who looks like them. They also want somebody

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Speaker 1: who's relatable. So I am very I am very happy

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Speaker 1: that in the most in the recent years. When I

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Speaker 1: first started, I did not see a lot of black, um,

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Speaker 1: you know, women attorneys. But in the recent years, I'm

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Speaker 1: seeing a lot of women and a lot of women

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Speaker 1: of color that are entering the legal fields. And I

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Speaker 1: love it because, just like you know, we are opening

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Speaker 1: businesses at a rapid speed, why not also have someone

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Speaker 1: who looks like me who was protecting my business as well.

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Speaker 1: So I love it. I love it, um. So I

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Speaker 1: think that was one reason. Number two is the relatability.

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Speaker 1: I know that um a lot of lawyers, uh, and

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Speaker 1: it I won't fault them, but it was just kind

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Speaker 1: of the way that the field worked they were always

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Speaker 1: I guess, groomed and conditioned to kind of be put

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Speaker 1: on this pedestal. So it's like the lawyer is not

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Speaker 1: somebody that you always contact because the lawyer is you know,

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Speaker 1: hard to get, or the lawyer is someone who was

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Speaker 1: going to speak in all these legal terms that you

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Speaker 1: don't really understand. So I think that was also something

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Speaker 1: that a lot of people shied away from lawyers because

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Speaker 1: they were a little bit um intimidated. They didn't feel

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Speaker 1: like the lawyer was someone that they wanted to work with.

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Speaker 1: They also they felt like the lawyer was kind of

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Speaker 1: not on their side. So people always looked at it

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Speaker 1: as I'm gonna only wait till there's an issue and

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Speaker 1: then I'm finally going to get this, you know this

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Speaker 1: other party involved, um that, and what else. I think

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Speaker 1: it's also the major things that I hear a lot

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Speaker 1: of people say and why they have a work with lawyer.

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Speaker 1: It's just a cost and yes, I suspend sometimes it is. Yeah,

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Speaker 1: it is an investment. Absolutely, It is an investment in

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Speaker 1: your business that I think is imperative because spending that

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Speaker 1: money right now is going to save you in the

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Speaker 1: future from shelling out a larger lump sum of money

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Speaker 1: in the event you get into an issue. Um. But

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Speaker 1: what I did, what I do know is a lot

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Speaker 1: of individuals were always nervous because they were uncertain of

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Speaker 1: whatever cost is going to come after speaking to this lawyer.

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Speaker 1: Which is why I scaled back, and I said to

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Speaker 1: myself when I was building my firm, how am I

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Speaker 1: going to take away some of, um, some of the

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Speaker 1: uncertainties that entrepreneurs have when they're speaking to lawyers and

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Speaker 1: they're dealing with lawyers. How can I change that business

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Speaker 1: model and make mine different So I do not do

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Speaker 1: hourly billing. The entire uncertainty about I, you know, retain

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Speaker 1: the lawyer. I gave this lawyer how much ever, thousands

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Speaker 1: of dollars for them to even get on the phone

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Speaker 1: with me, and then on top of that, they're telling me,

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Speaker 1: you know, I'm billing upwards a four or five hour

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Speaker 1: I'm not sure how long it's going to take, but

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Speaker 1: I'll still do it for you. I took all of

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Speaker 1: that out because I wanted to create a level of

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Speaker 1: comfort between my clients and myself and to let them

402
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Speaker 1: know if you were going to undertake this expense with

403
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Speaker 1: working with a lawyer, here's how much it's gonna cost.

404
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Speaker 1: Here's also what the options are for repayment. If you

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Speaker 1: want to break it up into some into a couple

406
00:24:50,720 --> 00:24:53,840
Speaker 1: of payment plans, we can work on that. You know.

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Speaker 1: I kind of made it a little less daunting to

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Speaker 1: higher lawyer. So all of the things that people have

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Speaker 1: been swarming around entrepreneurs and creatives heads about lawyers, all

410
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Speaker 1: the negative stigma. I kind of, you know, dispelled all

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Speaker 1: of that as much as possible to let people know, hey,

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Speaker 1: I am a lawyer. I will I will come to

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Speaker 1: your your event. I will come to your your brick

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Speaker 1: and watar store. I will be yeah, yeah, you know,

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Speaker 1: I will, I will text, I will text you. You

416
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Speaker 1: will not get any unexpected bills from me. So it's

417
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Speaker 1: like all of those negative things that kind of let

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Speaker 1: people kind of had people feel like, oh my gosh,

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Speaker 1: I don't want to work with the lawyer. I kind

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Speaker 1: of dispelled that. And then one last thing, um, I

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Speaker 1: want to just throw in there is that I found

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Speaker 1: and it's a little bit better now, but it's still

423
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Speaker 1: also a work in progress. But I have found that

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Speaker 1: entrepreneurs and creatives do not think their business needs a

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Speaker 1: lawyer at the beginning, I got that, I got that

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Speaker 1: question ready, okay, okay, never mind, just kidding, Okay, So

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Speaker 1: at this point, I think that if you're an entrepreneur,

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Speaker 1: you're a creative or like, if you just have ideas

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Speaker 1: and juice flowing, I would strongly urge you to get

430
00:26:24,080 --> 00:26:26,760
Speaker 1: a notebook out take some notes, because I feel like

431
00:26:26,800 --> 00:26:29,200
Speaker 1: these are all the questions that everybody their daddy want

432
00:26:29,200 --> 00:26:32,760
Speaker 1: to know, and I am confident that my guests would

433
00:26:32,880 --> 00:26:35,639
Speaker 1: answer them. And if you want to team up with her,

434
00:26:35,640 --> 00:26:37,520
Speaker 1: if you want her to advise you on something, just

435
00:26:37,640 --> 00:26:40,879
Speaker 1: email me at Hello at the PhD podcast dot com

436
00:26:40,920 --> 00:26:42,680
Speaker 1: and I would send you her information and don't be

437
00:26:42,720 --> 00:26:44,560
Speaker 1: asking her for no discount because we don't do that.

438
00:26:44,600 --> 00:26:53,800
Speaker 1: We gonna support question at home, so we're notre some

439
00:26:53,840 --> 00:26:59,840
Speaker 1: common mistakes the entrepreneurs make, uh common mistakes, I think

440
00:27:00,119 --> 00:27:03,280
Speaker 1: first biggest mistake, Um, so that's what I said before,

441
00:27:03,320 --> 00:27:08,000
Speaker 1: But the first biggest mistake is not bringing on an

442
00:27:08,040 --> 00:27:14,880
Speaker 1: attorney at the beginning of your entrepreneurial jury. I cannot

443
00:27:15,119 --> 00:27:21,560
Speaker 1: stress how many times I have had to play clean

444
00:27:21,680 --> 00:27:27,960
Speaker 1: up and go back and show individuals this all could

445
00:27:28,000 --> 00:27:31,480
Speaker 1: have been avoided if we worked together at the beginning,

446
00:27:31,640 --> 00:27:35,480
Speaker 1: and I get it. I completely get it. Sometimes legal

447
00:27:35,560 --> 00:27:38,119
Speaker 1: is not in your budget. It's okay, it's okay. Legal

448
00:27:38,280 --> 00:27:44,760
Speaker 1: is not always I think, yeah, yeah, you know, I

449
00:27:45,160 --> 00:27:49,000
Speaker 1: understand that sometimes that is not at the top of

450
00:27:49,080 --> 00:27:55,240
Speaker 1: your list, and I empower you know, my creatives and entrepreneurs.

451
00:27:55,680 --> 00:27:59,119
Speaker 1: Even even if legal working with an attorney is not

452
00:27:59,200 --> 00:28:02,640
Speaker 1: at the top of your list, there is Google University.

453
00:28:03,080 --> 00:28:08,600
Speaker 1: You can put things, certain legal protections together that will

454
00:28:08,680 --> 00:28:12,240
Speaker 1: be better than you not having them at all. So,

455
00:28:12,359 --> 00:28:15,280
Speaker 1: for example, if you do not know how to write

456
00:28:15,320 --> 00:28:18,520
Speaker 1: your own contracts, but you just want to create a

457
00:28:18,680 --> 00:28:25,560
Speaker 1: basic turnsheet with an invoice that is better that risks

458
00:28:25,600 --> 00:28:28,400
Speaker 1: all the terms that you and this individual agreed upon,

459
00:28:29,040 --> 00:28:32,520
Speaker 1: that is better and will hold weight more weight than

460
00:28:32,720 --> 00:28:37,560
Speaker 1: no document whatsoever. So that's a major thing that I

461
00:28:37,640 --> 00:28:42,480
Speaker 1: just tell all creatives and entrepreneurs start somewhere when it

462
00:28:42,680 --> 00:28:46,160
Speaker 1: comes to the legalleies of your business. Do not make

463
00:28:46,240 --> 00:28:50,520
Speaker 1: that mistake and say I don't have the money, I

464
00:28:50,720 --> 00:28:55,000
Speaker 1: don't have the time to to to you know, finalize

465
00:28:55,000 --> 00:28:59,400
Speaker 1: this with a legal document that doesn't exist, Like either

466
00:28:59,480 --> 00:29:02,520
Speaker 1: you work with an attorney or you do something really

467
00:29:02,600 --> 00:29:08,440
Speaker 1: quickly and put some some sort of protection together and

468
00:29:08,520 --> 00:29:12,600
Speaker 1: move forward from there. So and then all the all

469
00:29:12,600 --> 00:29:15,360
Speaker 1: the legal everything that falls unto legal, whether it's trademarks,

470
00:29:15,360 --> 00:29:19,840
Speaker 1: whether it's copyrights, whether it's um contract, whether it's forming

471
00:29:19,880 --> 00:29:22,400
Speaker 1: your own LLC. But I just think the number one

472
00:29:22,480 --> 00:29:26,360
Speaker 1: mistake that a lot of them make are not taking

473
00:29:26,520 --> 00:29:31,040
Speaker 1: those legal steps from the beginning. And then it's hard. Yeah,

474
00:29:31,160 --> 00:29:33,120
Speaker 1: you know, it's hard to learn a hard way, which

475
00:29:33,160 --> 00:29:37,440
Speaker 1: I'll tell y'all another day, um, because it isneurs and

476
00:29:37,480 --> 00:29:40,320
Speaker 1: creatives to have a basic understanding of the law, because,

477
00:29:40,400 --> 00:29:43,840
Speaker 1: like you said, I'd rather lose out on five dollars

478
00:29:43,840 --> 00:29:48,280
Speaker 1: now opposed to five thousand hours later. Yeah, And like

479
00:29:48,320 --> 00:29:51,960
Speaker 1: you know, I've put it into perspective for people. I say, uh,

480
00:29:52,000 --> 00:29:54,760
Speaker 1: small things like imagine if you built a brand, and

481
00:29:54,800 --> 00:29:57,760
Speaker 1: you're building your brands and you know, you create this

482
00:29:57,960 --> 00:30:02,360
Speaker 1: large social media following and you have all this uh

483
00:30:02,640 --> 00:30:06,600
Speaker 1: all these customers, you're selling your products, you've branded all

484
00:30:06,600 --> 00:30:10,760
Speaker 1: your products, and then you go launch and you make

485
00:30:10,960 --> 00:30:15,280
Speaker 1: how much ever money and then boom, one day you

486
00:30:15,360 --> 00:30:19,160
Speaker 1: get hit with a season assist letter and then all

487
00:30:19,200 --> 00:30:22,560
Speaker 1: of a sudden, you are you have been informed that

488
00:30:23,480 --> 00:30:26,320
Speaker 1: you know, we know that you are not you haven't

489
00:30:26,320 --> 00:30:30,960
Speaker 1: done this maliciously, but you are infringing on our trademark.

490
00:30:31,560 --> 00:30:35,840
Speaker 1: And which is a recent UM law that came out,

491
00:30:35,840 --> 00:30:39,240
Speaker 1: I mean a recent ruling that came out, and we

492
00:30:39,280 --> 00:30:42,800
Speaker 1: want whatever money you've made from those products that you've

493
00:30:42,840 --> 00:30:45,680
Speaker 1: sold for the past year and a half. And by

494
00:30:45,680 --> 00:30:48,600
Speaker 1: the way, you have to change your name. So it's

495
00:30:48,800 --> 00:30:54,560
Speaker 1: now that initial initial set of money that you would

496
00:30:54,560 --> 00:30:57,760
Speaker 1: have spent on having an attorney do a clear in search,

497
00:30:58,040 --> 00:31:01,680
Speaker 1: having an attorney ensure that your name can be used

498
00:31:02,440 --> 00:31:07,600
Speaker 1: is now completely completely wiped out because you were now

499
00:31:07,680 --> 00:31:11,240
Speaker 1: spending way more money to go back and play clean up.

500
00:31:11,560 --> 00:31:13,560
Speaker 1: You made money that you now have to give back

501
00:31:13,560 --> 00:31:16,800
Speaker 1: to another company. You also have to bring on a

502
00:31:16,960 --> 00:31:20,040
Speaker 1: litigating attorney. And when I when I say that, I

503
00:31:20,080 --> 00:31:24,040
Speaker 1: say attorney who goes to court. Um. Those attorneys who

504
00:31:24,040 --> 00:31:27,600
Speaker 1: will defend your lawsuits do not work on a flat

505
00:31:27,600 --> 00:31:31,200
Speaker 1: fee basis. How rise you They also start with retainer,

506
00:31:31,440 --> 00:31:34,560
Speaker 1: so upwards of ten thous dollars for you for them

507
00:31:34,560 --> 00:31:37,680
Speaker 1: to even start looking at your files, like they want

508
00:31:37,680 --> 00:31:41,720
Speaker 1: you to give them this money upfront. So say all

509
00:31:41,720 --> 00:31:44,200
Speaker 1: that to say, if you had done those steps at

510
00:31:44,200 --> 00:31:47,520
Speaker 1: the beginning, you would not have been in this instance,

511
00:31:47,880 --> 00:31:51,440
Speaker 1: on the back end, I'm telling you ready, I ready,

512
00:31:51,440 --> 00:31:56,040
Speaker 1: you lose five dollars exactly like you know, I say that,

513
00:31:56,080 --> 00:31:58,440
Speaker 1: and then I always I always make this analogy, like,

514
00:31:59,040 --> 00:32:05,840
Speaker 1: imagine if you love per Se Macy's, right, Imagine if

515
00:32:05,840 --> 00:32:09,120
Speaker 1: you love Macy's, You're always going into Macy's. You love

516
00:32:09,200 --> 00:32:12,080
Speaker 1: the store, and then one day you wake up and

517
00:32:12,120 --> 00:32:15,080
Speaker 1: you're driving to Macy's and Macy's has now changed in it.

518
00:32:16,040 --> 00:32:23,680
Speaker 1: A consumer will not remember who you are just by well,

519
00:32:23,680 --> 00:32:25,440
Speaker 1: if you're a breaking more to store, then that's a

520
00:32:25,440 --> 00:32:28,880
Speaker 1: little bit different. Sometimes they'll remember by location. But you're

521
00:32:29,000 --> 00:32:34,720
Speaker 1: branding is everything. So if one day you start getting

522
00:32:34,760 --> 00:32:37,960
Speaker 1: emails from someone else and you know you're always looking

523
00:32:38,000 --> 00:32:40,560
Speaker 1: for Macy's emails, what are you going to do? As

524
00:32:40,560 --> 00:32:42,960
Speaker 1: a consumer? You're gonna delete that because you're gonna say,

525
00:32:43,080 --> 00:32:46,280
Speaker 1: whose business is this? Also? Do I do I trust

526
00:32:46,320 --> 00:32:50,440
Speaker 1: this business to actually continue doing business with them? You know,

527
00:32:50,680 --> 00:32:53,480
Speaker 1: I thought that they were X and now they're why

528
00:32:53,560 --> 00:32:56,000
Speaker 1: And I'm confused. You know, we just don't want to

529
00:32:56,040 --> 00:33:01,680
Speaker 1: ever lead that because we don't have any room for that.

530
00:33:02,680 --> 00:33:06,560
Speaker 1: Customers will Customers will get confused. They remember you by

531
00:33:06,560 --> 00:33:08,920
Speaker 1: your branding, They remember you by your name and they

532
00:33:08,960 --> 00:33:11,640
Speaker 1: remember you by your website. If you have to change

533
00:33:11,640 --> 00:33:15,080
Speaker 1: all of that and then retroactively go back and also

534
00:33:15,240 --> 00:33:18,760
Speaker 1: redo all your branding, redo all your products, all of

535
00:33:18,840 --> 00:33:22,840
Speaker 1: your marketing, change your Instagram name, like it is going

536
00:33:22,880 --> 00:33:26,479
Speaker 1: to be so detrimental to a small business and as

537
00:33:26,480 --> 00:33:28,800
Speaker 1: small business owners, we don't have the time for that.

538
00:33:30,720 --> 00:33:33,160
Speaker 1: You know, large brands can do that. Your large brands

539
00:33:33,160 --> 00:33:35,440
Speaker 1: can do that, but we don't have the capital. We

540
00:33:35,480 --> 00:33:37,880
Speaker 1: also don't have the time to then go back and

541
00:33:37,920 --> 00:33:40,720
Speaker 1: correct everything. So just do it right from the beginning

542
00:33:40,800 --> 00:33:43,400
Speaker 1: and you won't mean in that situation. Could you also

543
00:33:43,520 --> 00:33:47,000
Speaker 1: explain the different business structures, like the most popular ones,

544
00:33:47,080 --> 00:33:54,720
Speaker 1: just to help everyone understand it a little bit better. Yeah, yeah, So, um,

545
00:33:54,920 --> 00:34:00,920
Speaker 1: different business structures are a corporation, which uh are similar

546
00:34:00,960 --> 00:34:04,960
Speaker 1: to ll cs, and then there are so proprietorships, and

547
00:34:04,960 --> 00:34:08,879
Speaker 1: then there's partnerships. So I'll go through the all four

548
00:34:08,920 --> 00:34:11,360
Speaker 1: of them really quickly. And then there's other you know,

549
00:34:11,520 --> 00:34:15,240
Speaker 1: sub sections under that which comes as your tax selection

550
00:34:15,400 --> 00:34:17,640
Speaker 1: on how your tax I'm not really gonna go into

551
00:34:17,680 --> 00:34:20,680
Speaker 1: that too much because it does get kind of confusing,

552
00:34:20,840 --> 00:34:24,040
Speaker 1: but um, in a nutshell, you can either be a

553
00:34:24,080 --> 00:34:28,359
Speaker 1: corporation which protects your personal and your business assets from

554
00:34:28,360 --> 00:34:31,200
Speaker 1: each other. So if your business is ever sued and

555
00:34:31,840 --> 00:34:34,799
Speaker 1: you know your business has ten dollars in the bank

556
00:34:34,800 --> 00:34:38,040
Speaker 1: account because you have not been generating any revenue, but

557
00:34:38,200 --> 00:34:40,920
Speaker 1: someone slips and falls, for example, in your you know,

558
00:34:41,040 --> 00:34:44,920
Speaker 1: in your store. Um, but you're a trust fund baby,

559
00:34:45,160 --> 00:34:49,359
Speaker 1: and your family left you a trust fund. You got

560
00:34:49,440 --> 00:34:52,560
Speaker 1: trust fund, which is personal is never going to be

561
00:34:52,680 --> 00:34:56,279
Speaker 1: intertwined with any issues that your business has. There are

562
00:34:56,320 --> 00:34:58,920
Speaker 1: a couple of ways that it can be done. But

563
00:34:59,160 --> 00:35:02,279
Speaker 1: once you set up an entity and you run your

564
00:35:02,320 --> 00:35:05,960
Speaker 1: books and records come like UM, and you run your

565
00:35:06,000 --> 00:35:10,480
Speaker 1: business as a corporation, you your personal assets and your

566
00:35:10,520 --> 00:35:15,520
Speaker 1: business assets will be separated. And the same goes for LLCs.

567
00:35:15,560 --> 00:35:19,799
Speaker 1: The difference between LLCs and corporations are the way that

568
00:35:19,880 --> 00:35:27,360
Speaker 1: they are run. LLCs, for example, are very very straightforward,

569
00:35:27,560 --> 00:35:31,719
Speaker 1: easy to run. There aren't any formalities that you need

570
00:35:31,840 --> 00:35:34,759
Speaker 1: to do. And when I say formalities, I mean you

571
00:35:34,760 --> 00:35:36,719
Speaker 1: don't have to have a meeting if you don't want

572
00:35:36,760 --> 00:35:40,960
Speaker 1: to with your owners. You don't have to take any um,

573
00:35:41,000 --> 00:35:42,719
Speaker 1: you don't have to do any minute. So like you

574
00:35:42,760 --> 00:35:46,719
Speaker 1: don't have to do extensive record keeping. You don't have

575
00:35:46,880 --> 00:35:51,160
Speaker 1: to write certain contents if you enter into a contract

576
00:35:51,520 --> 00:35:54,560
Speaker 1: a bunch of things that you need to do. With corporations,

577
00:35:54,600 --> 00:35:58,200
Speaker 1: if the statute says you have to do versus llc s,

578
00:35:58,320 --> 00:36:01,239
Speaker 1: it's kind of like, this is mine, I'll do how

579
00:36:01,280 --> 00:36:04,880
Speaker 1: I want. I don't have to follow any statute, very

580
00:36:05,040 --> 00:36:09,440
Speaker 1: very free flowing, straightforward, and it still protects your business

581
00:36:09,480 --> 00:36:12,759
Speaker 1: and your personal assets. So that's kind of essentially the

582
00:36:12,760 --> 00:36:20,239
Speaker 1: difference between LLCs in corporations small businesses nine by what.

583
00:36:20,360 --> 00:36:22,200
Speaker 1: I don't let me not give a percentage, but a

584
00:36:22,320 --> 00:36:28,640
Speaker 1: large amount of small businesses choose LLCs and choose a

585
00:36:28,719 --> 00:36:32,560
Speaker 1: specific tax election, which is an ESCORPS tax election under

586
00:36:32,680 --> 00:36:36,239
Speaker 1: LLCs to maximize the taxes that they get back at

587
00:36:36,239 --> 00:36:39,640
Speaker 1: the end of the year. Now, on the other hand,

588
00:36:40,560 --> 00:36:45,319
Speaker 1: corp although corporations have those formalities. Startups and people who

589
00:36:45,320 --> 00:36:50,920
Speaker 1: are looking for investments and seed investment choose corporations because

590
00:36:51,120 --> 00:36:56,359
Speaker 1: that's that's the structure that you use um to get

591
00:36:56,560 --> 00:37:00,200
Speaker 1: more corporate owners, to get more ownership, and to get

592
00:37:00,200 --> 00:37:02,399
Speaker 1: more investment. So you know, investors not going to come.

593
00:37:02,400 --> 00:37:04,200
Speaker 1: It's like all the people you see in shark tinking

594
00:37:04,320 --> 00:37:09,040
Speaker 1: stuff they if they're not a corporation, they transferred to

595
00:37:09,080 --> 00:37:13,319
Speaker 1: a corporation because it provides more benefits for investors to

596
00:37:13,480 --> 00:37:16,560
Speaker 1: invest in your business and get shares in your business

597
00:37:16,719 --> 00:37:20,400
Speaker 1: versus the LLC does not. It's not really that favorable. UM,

598
00:37:20,480 --> 00:37:24,000
Speaker 1: you can still get investments with LLCs, but most seed investors,

599
00:37:24,040 --> 00:37:27,960
Speaker 1: people who go through seed investing, they always always do

600
00:37:28,320 --> 00:37:31,440
Speaker 1: UM corporations, So that's kind of the difference between that.

601
00:37:31,560 --> 00:37:34,239
Speaker 1: So it's like apples and oranges. It all depends on

602
00:37:34,360 --> 00:37:38,520
Speaker 1: sometimes the trajectory of your business, whether what you want

603
00:37:38,560 --> 00:37:41,440
Speaker 1: for long term and what makes more sense for you

604
00:37:41,560 --> 00:37:45,479
Speaker 1: tax wise, UM between LLC and corp uh. And then

605
00:37:45,600 --> 00:37:50,640
Speaker 1: the I mean TOBE. So proprietorships are literally they are

606
00:37:50,800 --> 00:37:54,200
Speaker 1: a business entity and you can form a sole proprietorship

607
00:37:55,200 --> 00:37:59,640
Speaker 1: with your UM, with your state. However, they don't provide

608
00:37:59,680 --> 00:38:03,239
Speaker 1: you any sort of protection, any sort of protection whatsoever.

609
00:38:04,520 --> 00:38:08,600
Speaker 1: So having a soul pro proprietorship, it's just basically like

610
00:38:08,840 --> 00:38:12,239
Speaker 1: I am just doing business as myself and I have

611
00:38:12,800 --> 00:38:20,560
Speaker 1: my altogether never never all together and in the same

612
00:38:20,600 --> 00:38:23,719
Speaker 1: in the same boat. And when one thing goes, everything goes,

613
00:38:24,080 --> 00:38:27,800
Speaker 1: their home, your car. It's just kind of co mingling

614
00:38:27,920 --> 00:38:31,160
Speaker 1: everything together. I never recommended. Um, A lot of people

615
00:38:31,200 --> 00:38:33,160
Speaker 1: do start off in that way, but like I said,

616
00:38:33,400 --> 00:38:38,120
Speaker 1: once again, it all depends on the level um that

617
00:38:38,239 --> 00:38:40,239
Speaker 1: you are in your business. You know, where are you?

618
00:38:40,480 --> 00:38:44,239
Speaker 1: Some people they're starting off with very limited capital. They

619
00:38:44,320 --> 00:38:47,200
Speaker 1: don't even have the resources to make that step in

620
00:38:47,239 --> 00:38:51,200
Speaker 1: form LLCO corporation. That's fine, but I always say, let's

621
00:38:51,280 --> 00:38:55,680
Speaker 1: start to get out of that soul proprietorship mindset and

622
00:38:55,760 --> 00:38:59,000
Speaker 1: let's start LC or corporation from the beginning. But you know,

623
00:38:59,120 --> 00:39:03,560
Speaker 1: it happens and you can't. Everybody's path and trajectory is different. Um.

624
00:39:03,640 --> 00:39:08,240
Speaker 1: And then finally, partnerships. Partnerships are very very um tricky.

625
00:39:09,400 --> 00:39:13,480
Speaker 1: Partnerships are. Yeah, I wouldn't want to say they're tricky,

626
00:39:13,760 --> 00:39:18,080
Speaker 1: but they have been. They have been thought to be

627
00:39:18,560 --> 00:39:22,560
Speaker 1: a separate legal entity, and yes they are. But the

628
00:39:22,640 --> 00:39:27,919
Speaker 1: partnerships are literally the same thing as a sole proprietorship,

629
00:39:27,960 --> 00:39:32,359
Speaker 1: but with multiple people. So a partnership is just like

630
00:39:33,160 --> 00:39:35,799
Speaker 1: you have four or five people, you guys all come

631
00:39:35,880 --> 00:39:39,319
Speaker 1: together to create a business entity. But if something were

632
00:39:39,360 --> 00:39:42,840
Speaker 1: to go wrong with that entity and the entity is

633
00:39:42,920 --> 00:39:46,879
Speaker 1: sued once again, all of those business owners are going

634
00:39:46,920 --> 00:39:50,160
Speaker 1: to be personally liable for any other any of the

635
00:39:50,239 --> 00:39:54,480
Speaker 1: death liabilities. So similar to the sole proprietorship, the partnership

636
00:39:54,520 --> 00:39:57,879
Speaker 1: is the same way, just with multiple people. People. Uh.

637
00:39:58,040 --> 00:40:01,680
Speaker 1: For years, people have always been so pro partnerships, and

638
00:40:01,719 --> 00:40:05,319
Speaker 1: I don't think they really realize the legal ramifications behind it.

639
00:40:05,640 --> 00:40:09,960
Speaker 1: I don't suggest getting into just partnerships alone because the

640
00:40:09,960 --> 00:40:12,560
Speaker 1: partnership by itself is not going to give you any protection.

641
00:40:13,040 --> 00:40:16,839
Speaker 1: You can get into an LLC or corporation and then

642
00:40:16,960 --> 00:40:21,240
Speaker 1: make all of the business owners partners and owners together

643
00:40:21,640 --> 00:40:25,160
Speaker 1: and it be okay. But just a simple partnership UM,

644
00:40:25,239 --> 00:40:28,799
Speaker 1: it doesn't do much. It doesn't really multiple companies under

645
00:40:28,840 --> 00:40:35,239
Speaker 1: one LLC. Yes, yes, so you can create what it's

646
00:40:35,280 --> 00:40:37,839
Speaker 1: called the holding company and a lot of companies do

647
00:40:37,920 --> 00:40:40,719
Speaker 1: this UM. And you can do the same thing with

648
00:40:40,719 --> 00:40:43,720
Speaker 1: with corporations. You can create holding companies, you can create

649
00:40:43,760 --> 00:40:47,400
Speaker 1: sister companies. You can do a bunch of things with

650
00:40:47,440 --> 00:40:51,640
Speaker 1: your LLC UM. Yeah. So say, for example, you know

651
00:40:51,880 --> 00:40:56,040
Speaker 1: you have one overarching LLC UM and then you want

652
00:40:56,040 --> 00:40:58,520
Speaker 1: to run if you want to create a clothing line,

653
00:40:58,719 --> 00:41:03,520
Speaker 1: the colothing line can be owned by your your umbrella

654
00:41:03,560 --> 00:41:07,360
Speaker 1: company UM, which is holding slash umbrella company then you

655
00:41:07,400 --> 00:41:10,120
Speaker 1: can have your podcast. Then you can have you know,

656
00:41:10,280 --> 00:41:13,439
Speaker 1: a service that you provide, and all of them will

657
00:41:13,560 --> 00:41:20,160
Speaker 1: be different LLCs itself under one kind of overarching just

658
00:41:20,719 --> 00:41:23,840
Speaker 1: holding company that's like an umbrella. So like that umbrella

659
00:41:23,920 --> 00:41:27,120
Speaker 1: is holding everybody, it's holding down the flour, it's making

660
00:41:27,160 --> 00:41:30,640
Speaker 1: sure everything is okay. The only thing sometimes that the

661
00:41:31,200 --> 00:41:34,719
Speaker 1: holding company does is just you know, checks on the

662
00:41:34,760 --> 00:41:38,080
Speaker 1: books and records back and forth for each of the entasies.

663
00:41:38,360 --> 00:41:41,600
Speaker 1: But yes, you can have multiple entasies under owned by

664
00:41:41,680 --> 00:41:45,080
Speaker 1: one LLC. It happens all the time, and it's a

665
00:41:45,120 --> 00:41:47,279
Speaker 1: really good way. I do suggest a lot of my

666
00:41:47,360 --> 00:41:51,040
Speaker 1: business owners to move to that model. Once you are

667
00:41:51,239 --> 00:41:56,839
Speaker 1: creating multiple um different industries in one LLC. So you

668
00:41:56,880 --> 00:42:01,080
Speaker 1: can have an LLC for example, and run five businesses

669
00:42:01,160 --> 00:42:03,719
Speaker 1: under there. But the better way to do it is

670
00:42:03,840 --> 00:42:08,720
Speaker 1: create multiple LLCs under that one LLC. Perfect the perfect

671
00:42:08,719 --> 00:42:15,040
Speaker 1: example of this would be um LVMH. So you have time,

672
00:42:15,400 --> 00:42:19,040
Speaker 1: you have Pannessy. I think, now you have fenty and

673
00:42:19,080 --> 00:42:22,600
Speaker 1: all these other high end luxury places, all these other

674
00:42:23,200 --> 00:42:27,000
Speaker 1: exactly exactly. So they're they're the holding company and they

675
00:42:27,080 --> 00:42:31,000
Speaker 1: own all of those, and then there's all of those

676
00:42:31,080 --> 00:42:36,719
Speaker 1: subsidiaries under LVMH that they own. Um. But you know,

677
00:42:36,760 --> 00:42:39,399
Speaker 1: in the fashion industry and the retail industry, it's very

678
00:42:39,600 --> 00:42:42,400
Speaker 1: very uh interesting and a lot of people don't realize

679
00:42:42,400 --> 00:42:49,040
Speaker 1: this that a large amount of fashion brands are owned

680
00:42:49,600 --> 00:42:55,319
Speaker 1: by these companies. Like that is literally the way that

681
00:42:55,400 --> 00:42:58,800
Speaker 1: a lot of fashion companies are able to survive essentially,

682
00:42:58,800 --> 00:43:02,920
Speaker 1: and then even even with uh other industries too. I

683
00:43:02,920 --> 00:43:08,680
Speaker 1: mean I was listening to a podcast and Dannon, which

684
00:43:08,840 --> 00:43:12,720
Speaker 1: does the yogurts, they own a lot of smaller yogurt

685
00:43:12,840 --> 00:43:18,520
Speaker 1: brands as well. Um uh, A bunch of companies. You know,

686
00:43:18,560 --> 00:43:23,880
Speaker 1: there's a bunch of companies that form these conglomerate holding companies,

687
00:43:24,120 --> 00:43:29,080
Speaker 1: and what they do is they acquire the smaller brands,

688
00:43:29,480 --> 00:43:32,600
Speaker 1: and that is what allows some of these smaller brands

689
00:43:33,239 --> 00:43:35,960
Speaker 1: for the long term. Yeah yeah, you know, they get

690
00:43:35,960 --> 00:43:41,600
Speaker 1: the funding, they get the backings, partnerships, I mean, the resources.

691
00:43:41,680 --> 00:43:44,680
Speaker 1: I mean, when you think about it, lvn H is

692
00:43:44,800 --> 00:43:48,719
Speaker 1: really what hast to where it is right now. You know,

693
00:43:48,880 --> 00:43:52,640
Speaker 1: they got them into Sephora, they got the fancy brand

694
00:43:52,680 --> 00:43:57,239
Speaker 1: now the clothing brand into into the outlets that it

695
00:43:57,400 --> 00:44:01,960
Speaker 1: is just because they are now using their inside network

696
00:44:02,400 --> 00:44:05,760
Speaker 1: and promoting each of the brands. So it's a really

697
00:44:05,800 --> 00:44:09,000
Speaker 1: it's it's great, especially when you're in the retail sector.

698
00:44:09,320 --> 00:44:12,560
Speaker 1: It's really great to build your brand to a level

699
00:44:12,880 --> 00:44:17,720
Speaker 1: and then attempt to become acquired by one of these

700
00:44:18,040 --> 00:44:26,319
Speaker 1: holding companies. But that's it's a it's a great when

701
00:44:26,320 --> 00:44:28,520
Speaker 1: I say, it's a great goal to have. It also

702
00:44:28,560 --> 00:44:32,080
Speaker 1: depends on what you want for your business. I yeah,

703
00:44:32,320 --> 00:44:35,440
Speaker 1: I speak to a lot of business owners who they

704
00:44:35,800 --> 00:44:38,640
Speaker 1: don't want that because they still want to have some

705
00:44:38,840 --> 00:44:42,560
Speaker 1: sort of majority control over their business. You know, when

706
00:44:42,560 --> 00:44:45,680
Speaker 1: you're when you're selling to an LVMH and you are

707
00:44:45,760 --> 00:44:49,359
Speaker 1: a profitable brand, yes, they will keep you. You will

708
00:44:49,440 --> 00:44:53,840
Speaker 1: always remain the owner. You always remain the UH founder,

709
00:44:53,920 --> 00:44:56,319
Speaker 1: not the owner. You always made the founder. You might

710
00:44:56,440 --> 00:45:00,080
Speaker 1: become a minority owner, so LBMH might own you know,

711
00:45:02,360 --> 00:45:04,680
Speaker 1: and you own forty five. You know. It happens so

712
00:45:04,800 --> 00:45:07,920
Speaker 1: much time. So sometimes people are a little bit scared

713
00:45:08,000 --> 00:45:10,319
Speaker 1: of that. But I just think it's not something to

714
00:45:10,320 --> 00:45:12,799
Speaker 1: be scared about. It all depends on where you are.

715
00:45:14,719 --> 00:45:20,280
Speaker 1: This is a million dollar question, girl, Can you please

716
00:45:20,360 --> 00:45:27,120
Speaker 1: explain the difference between pen, trademark and copyright. I guess

717
00:45:27,120 --> 00:45:31,480
Speaker 1: this question all the time. Um, yes, it is the

718
00:45:31,880 --> 00:45:35,560
Speaker 1: it's a million dollar question, like trillion dollars, Like this

719
00:45:35,800 --> 00:45:38,440
Speaker 1: is something that I have, I get all the time. Okay,

720
00:45:39,040 --> 00:45:43,560
Speaker 1: So trademarks, and I'm gonna put it into We'll use

721
00:45:43,680 --> 00:45:48,680
Speaker 1: Nike a million trademarks. They have a million trademarks. I

722
00:45:48,719 --> 00:45:51,160
Speaker 1: got a million parents, and they have a million copyrights,

723
00:45:51,200 --> 00:45:56,920
Speaker 1: like they have just been across the board intellectual intellectual

724
00:45:56,960 --> 00:46:00,560
Speaker 1: property monsters. Them and Amazon are up there like their

725
00:46:00,800 --> 00:46:02,799
Speaker 1: their beasts when it comes to this. Okay, so we'll

726
00:46:02,840 --> 00:46:07,640
Speaker 1: put it into Nike. So your trademark would be your

727
00:46:07,680 --> 00:46:13,400
Speaker 1: business name, your business logo, your slogan, um, any sort

728
00:46:13,640 --> 00:46:17,839
Speaker 1: of symbol that you use. So boiling down to Nike.

729
00:46:18,320 --> 00:46:22,160
Speaker 1: Nike is a trademark for the brand Nike. Just do

730
00:46:22,320 --> 00:46:25,400
Speaker 1: It is a slogan which is also a trademark for

731
00:46:25,520 --> 00:46:28,680
Speaker 1: the brand Nike. The swoosh, which is a symbol that

732
00:46:28,840 --> 00:46:32,480
Speaker 1: they use, is also a trademark for the brand Nike.

733
00:46:32,719 --> 00:46:38,279
Speaker 1: So anything that kind of shows brand, provides brand recognition,

734
00:46:38,719 --> 00:46:42,279
Speaker 1: shows what brand it is. When you look at a

735
00:46:42,400 --> 00:46:46,640
Speaker 1: Ralph Laurence shirt, it's always going to have that guy

736
00:46:46,920 --> 00:46:52,719
Speaker 1: playing polo um because that is a symbol of the

737
00:46:52,840 --> 00:46:56,239
Speaker 1: brand anything that shows the brand, whether it's your name,

738
00:46:56,280 --> 00:46:59,160
Speaker 1: your symbol or slogan or whatever. Once a customer looks

739
00:46:59,160 --> 00:47:00,920
Speaker 1: at it, they know exact see what brand it is.

740
00:47:01,360 --> 00:47:04,879
Speaker 1: That is what's going to be your trademark. So people

741
00:47:05,000 --> 00:47:07,960
Speaker 1: ask me all the time, well, can I trademark an idea? No,

742
00:47:08,400 --> 00:47:12,840
Speaker 1: because an idea is not original to your brand. Whatever

743
00:47:12,960 --> 00:47:15,400
Speaker 1: your trademark is, it has to be something that is

744
00:47:15,440 --> 00:47:19,040
Speaker 1: original to your brand. And as soon as somebody sees it, like,

745
00:47:19,160 --> 00:47:21,800
Speaker 1: as soon as someone sees just do it. We're not

746
00:47:21,840 --> 00:47:24,960
Speaker 1: gonna say, oh, yes, that's Adidas. Absolutely not. We know

747
00:47:25,480 --> 00:47:31,120
Speaker 1: it's Nike. So that's a trademark. Patents, on the other hand,

748
00:47:31,200 --> 00:47:33,279
Speaker 1: which is something that I do not do, and I

749
00:47:33,280 --> 00:47:36,040
Speaker 1: always make that full disclaimer. I'm not a patent attorney.

750
00:47:36,560 --> 00:47:44,000
Speaker 1: Patents are the inventions, the technical behind certain things. So

751
00:47:44,840 --> 00:47:48,600
Speaker 1: you can get a patent if you create or Nike

752
00:47:49,080 --> 00:47:51,840
Speaker 1: gets a patent if they create a sneaker, what a

753
00:47:51,960 --> 00:47:56,759
Speaker 1: certain sort of um technology behind it. When I say that,

754
00:47:56,880 --> 00:48:00,680
Speaker 1: I mean if there is a sneaker that is specifically

755
00:48:00,760 --> 00:48:04,640
Speaker 1: made for people who play basketball and allows you to

756
00:48:04,760 --> 00:48:08,719
Speaker 1: jump higher, that is an invention, and that is some

757
00:48:08,840 --> 00:48:13,040
Speaker 1: sort of technology behind the sneaker that you get a

758
00:48:13,120 --> 00:48:16,239
Speaker 1: patent for, So it's like the functional aspects of it.

759
00:48:17,080 --> 00:48:21,040
Speaker 1: Something that is novel and unique is going to get

760
00:48:21,080 --> 00:48:23,200
Speaker 1: a patent. So you get a patent for a light bulb,

761
00:48:23,320 --> 00:48:26,880
Speaker 1: you get a patent for um. If your sneaker has

762
00:48:26,960 --> 00:48:30,759
Speaker 1: like some you know, high jumping technology. You would get

763
00:48:30,800 --> 00:48:33,960
Speaker 1: a patent for any sort of invention that that is

764
00:48:34,560 --> 00:48:41,160
Speaker 1: new and different. That's what patents are. UM. Patents are

765
00:48:41,440 --> 00:48:45,200
Speaker 1: very very long process to get number one and also

766
00:48:45,360 --> 00:48:48,480
Speaker 1: very difficult to obtain for the simple fact that there

767
00:48:48,520 --> 00:48:52,759
Speaker 1: are so many inventions and there are so many um

768
00:48:53,160 --> 00:48:56,759
Speaker 1: moving pieces that are going on in society today that

769
00:48:56,960 --> 00:48:59,880
Speaker 1: sometimes when you create something, someone else has probably a

770
00:49:00,040 --> 00:49:03,440
Speaker 1: ready created it. So that's why the patent process is

771
00:49:03,480 --> 00:49:06,840
Speaker 1: like really really long, UM and difficult to get. So

772
00:49:07,040 --> 00:49:12,840
Speaker 1: that's patent UH. And then lastly, copyrights are for the

773
00:49:13,120 --> 00:49:17,279
Speaker 1: artistic value of anything that you have. So if your

774
00:49:17,360 --> 00:49:22,520
Speaker 1: brand is doing a photo shoot, photos are considered art.

775
00:49:22,920 --> 00:49:25,880
Speaker 1: If there is some sort of artwork that your business

776
00:49:25,960 --> 00:49:32,520
Speaker 1: gets that is considered UM, that is protected by copyright. Also,

777
00:49:33,080 --> 00:49:38,840
Speaker 1: if there are any sneakers, like for Nike, for example,

778
00:49:39,040 --> 00:49:42,520
Speaker 1: if Nike has a sneaker with like a mural on there,

779
00:49:42,840 --> 00:49:46,479
Speaker 1: then they can get a copyright for that sneaker because

780
00:49:46,520 --> 00:49:49,080
Speaker 1: that sneaker has some sort of artistic value in it.

781
00:49:49,440 --> 00:49:52,200
Speaker 1: So anything that's like a work of art, whether it

782
00:49:52,280 --> 00:49:55,760
Speaker 1: be a sculpture, whether it be a painting, a drawing,

783
00:49:56,280 --> 00:50:01,880
Speaker 1: UM content, all of that is protected by copyright, so

784
00:50:02,320 --> 00:50:06,719
Speaker 1: UM essentially, but always back to the Nike like you

785
00:50:06,760 --> 00:50:08,840
Speaker 1: know those little short videos and those short films that

786
00:50:08,960 --> 00:50:11,520
Speaker 1: Nike always creates, like the Nike Run. When they have

787
00:50:12,320 --> 00:50:16,680
Speaker 1: seen those videos, that's copyright that will be protected by

788
00:50:16,719 --> 00:50:21,320
Speaker 1: copy right versus the swoosh that's on the video is

789
00:50:21,360 --> 00:50:25,799
Speaker 1: going to be protected by trademark. But versus the sneakers

790
00:50:26,160 --> 00:50:30,120
Speaker 1: that they are advertising that have some new technology that

791
00:50:30,239 --> 00:50:33,920
Speaker 1: they've created with an engineer is going to be protected

792
00:50:34,320 --> 00:50:39,879
Speaker 1: by patent. So all workings, they're all very relevant when

793
00:50:39,960 --> 00:50:43,520
Speaker 1: it comes to your business, and they're all they're all

794
00:50:44,160 --> 00:50:46,640
Speaker 1: aspects of your business that that can be protected. But

795
00:50:46,760 --> 00:50:49,839
Speaker 1: just as far as the steps for applying for each one,

796
00:50:49,920 --> 00:50:54,759
Speaker 1: they are all different, right, all different, all different UM.

797
00:50:55,800 --> 00:51:01,320
Speaker 1: Patents and trademarks are housed by the same UM, the

798
00:51:01,440 --> 00:51:04,560
Speaker 1: same government entity, so it's called the US Patent and

799
00:51:04,640 --> 00:51:08,520
Speaker 1: Trademark Office. The process for patents. I cannot speak to

800
00:51:08,560 --> 00:51:10,720
Speaker 1: it because, like I said, I'm not a patent attorney.

801
00:51:11,120 --> 00:51:14,960
Speaker 1: I don't know what the specific process is on the website.

802
00:51:15,440 --> 00:51:20,920
Speaker 1: Um what trademarks trademark process does differ from copyright process,

803
00:51:21,160 --> 00:51:25,400
Speaker 1: Like trademarks for example, will take no less than like

804
00:51:25,560 --> 00:51:28,840
Speaker 1: ten months versus copyrights. Sometimes you can get a copyright

805
00:51:28,960 --> 00:51:32,760
Speaker 1: for your your artworking, your artistic portions of your business

806
00:51:33,320 --> 00:51:36,120
Speaker 1: and about like six months. So you know, they all

807
00:51:36,160 --> 00:51:39,440
Speaker 1: depended copyrights to house on a different website, a different

808
00:51:39,440 --> 00:51:42,200
Speaker 1: government entity. And mine is the patent side of everything.

809
00:51:42,320 --> 00:51:43,759
Speaker 1: What about the price and for each one? Because I

810
00:51:43,760 --> 00:51:44,920
Speaker 1: feel like a lot of people feel like they can

811
00:51:44,960 --> 00:51:48,520
Speaker 1: do it themselves and they'll see a trademark for likes

812
00:51:48,640 --> 00:51:54,919
Speaker 1: and it's like, no, trademarks did not cost them. Uh yeah,

813
00:51:55,200 --> 00:51:57,000
Speaker 1: Now you can only get the trademark for ninety nine

814
00:51:57,000 --> 00:52:01,200
Speaker 1: dollars because the filing fee is too and twenty five dollars.

815
00:52:01,280 --> 00:52:04,279
Speaker 1: There's three, there's two different tiers. Now they actually did

816
00:52:04,320 --> 00:52:07,200
Speaker 1: away with the four dollar application, which is a paper one,

817
00:52:07,640 --> 00:52:10,279
Speaker 1: but it's either two hundred and twenty five dollars or

818
00:52:10,360 --> 00:52:14,320
Speaker 1: two seventy five. So yes, no ninety dollar trademarks unless

819
00:52:14,400 --> 00:52:20,000
Speaker 1: that's unless that's only like the attorneys fee, which I'll

820
00:52:20,080 --> 00:52:24,960
Speaker 1: remain silent of that, but I mean, uh yeah, so

821
00:52:25,160 --> 00:52:29,400
Speaker 1: the trademarks are going to either be two two seventy five, um,

822
00:52:30,080 --> 00:52:34,680
Speaker 1: the the not the patents. The copyrights, on the other hand,

823
00:52:35,320 --> 00:52:40,520
Speaker 1: are much much more affordable. They are two dollars to

824
00:52:40,719 --> 00:52:46,480
Speaker 1: sixty five dollars. Yeah, yeah, and then yeah, and then

825
00:52:46,600 --> 00:52:49,879
Speaker 1: the good thing about uh, I don't like packs people

826
00:52:49,960 --> 00:52:53,359
Speaker 1: coming in my head, but the good thing about copyrights

827
00:52:53,480 --> 00:52:57,520
Speaker 1: are you can't bok register them. So I have people

828
00:52:57,600 --> 00:53:01,600
Speaker 1: who I booke register copy rights for all the time.

829
00:53:01,719 --> 00:53:04,399
Speaker 1: And when I say a book register, I mean, hey,

830
00:53:04,680 --> 00:53:08,000
Speaker 1: I have seventy five pictures that I all want to

831
00:53:08,040 --> 00:53:10,759
Speaker 1: get a copy right for. We can put that all

832
00:53:10,880 --> 00:53:15,960
Speaker 1: into one UM one application and it's still the same

833
00:53:16,000 --> 00:53:19,120
Speaker 1: perce like you can you can do that. When it

834
00:53:19,200 --> 00:53:23,600
Speaker 1: comes to copy rights trademarks, they're not there like one

835
00:53:24,840 --> 00:53:29,440
Speaker 1: once one trademark, one one filing fee. Let's not get

836
00:53:29,520 --> 00:53:31,680
Speaker 1: cut here, let's not get flick and try to throw

837
00:53:31,800 --> 00:53:35,239
Speaker 1: everything in the kitchen saying no copyrights. We don't want

838
00:53:35,239 --> 00:53:37,960
Speaker 1: everything in there. And we're calling it one collection and

839
00:53:38,480 --> 00:53:41,480
Speaker 1: it's it's Okay, they were all taken on different days.

840
00:53:41,760 --> 00:53:46,839
Speaker 1: This is one collection pictures of outside period. So yeah,

841
00:53:46,960 --> 00:53:49,320
Speaker 1: you know you can. You can do that, but not

842
00:53:49,480 --> 00:53:53,360
Speaker 1: with trademarks. Unfortunately. Is there anything that you can't trademark

843
00:53:53,360 --> 00:53:57,200
Speaker 1: because I feel like you can trademark pretty much anything. Yes,

844
00:53:58,000 --> 00:54:04,319
Speaker 1: you cannot trademark UM. So I make this distinction that say,

845
00:54:04,360 --> 00:54:07,200
Speaker 1: for example, you had an idea for a ride share app,

846
00:54:07,520 --> 00:54:09,399
Speaker 1: and you wanted to say I don't want anybody else

847
00:54:09,440 --> 00:54:11,800
Speaker 1: to use my idea for a ride shair app. That

848
00:54:12,040 --> 00:54:14,520
Speaker 1: is not an element that can you can get a

849
00:54:14,560 --> 00:54:19,200
Speaker 1: trademark for. UM. Ideas are something that you can protect

850
00:54:19,280 --> 00:54:22,640
Speaker 1: in other ways. But essentially you cannot get a trademark

851
00:54:22,800 --> 00:54:25,560
Speaker 1: for your ideas. So if you think you have a

852
00:54:25,760 --> 00:54:29,759
Speaker 1: unique and novel business idea, getting a trademark for it

853
00:54:30,040 --> 00:54:34,040
Speaker 1: is not the way to go UM. Also, you cannot

854
00:54:35,160 --> 00:54:42,880
Speaker 1: protect anything that is generic. So if you are and

855
00:54:42,960 --> 00:54:47,759
Speaker 1: like a commonly used term, a common you commonly used term,

856
00:54:47,880 --> 00:54:53,000
Speaker 1: you cannot protect. So prime example is when Lebron James

857
00:54:53,160 --> 00:54:59,120
Speaker 1: tried to get a trademark Tacle Tuesday, they said absolutely

858
00:54:59,239 --> 00:55:04,200
Speaker 1: not because this is a terminology that is used widespread

859
00:55:04,400 --> 00:55:08,160
Speaker 1: in our community. If you as a basketball star, are

860
00:55:08,239 --> 00:55:11,800
Speaker 1: now disallowing other individuals to use a trademark for it?

861
00:55:12,320 --> 00:55:16,720
Speaker 1: What is the sense? So they essentially Trademark Office wants

862
00:55:16,960 --> 00:55:21,360
Speaker 1: people to be unique in their slogans, their business means,

863
00:55:21,480 --> 00:55:23,719
Speaker 1: and stuff of that nature. So like, I cannot go

864
00:55:23,880 --> 00:55:26,560
Speaker 1: and try to get a trademark for red shoes because

865
00:55:26,600 --> 00:55:29,719
Speaker 1: then it would stop everybody else from using red shoes.

866
00:55:30,400 --> 00:55:33,920
Speaker 1: It doesn't It doesn't make sense. So anything that's commonly used,

867
00:55:34,200 --> 00:55:38,719
Speaker 1: anything that's you know, um, any sort of slogan that's widespread.

868
00:55:38,880 --> 00:55:42,560
Speaker 1: Even more recently, I put something up on my social

869
00:55:42,640 --> 00:55:48,000
Speaker 1: media about all these coronavirus trademarks that have now popped up. Yes,

870
00:55:48,480 --> 00:55:54,279
Speaker 1: I survived the coronavirus. Coronavirus, I survived the pandemic. All

871
00:55:54,400 --> 00:55:58,600
Speaker 1: these things. You cannot get a trademark for that because essentially,

872
00:55:58,680 --> 00:56:03,839
Speaker 1: like I said, we want to encourage the unique nous

873
00:56:04,120 --> 00:56:08,480
Speaker 1: of a business. We don't want to disallow other businesses

874
00:56:08,600 --> 00:56:12,400
Speaker 1: from using common terms and create some sort of monopoly. So,

875
00:56:14,280 --> 00:56:16,760
Speaker 1: and there's a host of other things. The trademark trademark

876
00:56:16,800 --> 00:56:19,279
Speaker 1: statute is very long, and there's a host of other things,

877
00:56:19,400 --> 00:56:21,880
Speaker 1: but those are the main ones that I do notice.

878
00:56:21,920 --> 00:56:26,400
Speaker 1: A lot of business owners try to um get trademarks

879
00:56:26,520 --> 00:56:29,600
Speaker 1: for because they just want to hold down the fort

880
00:56:29,719 --> 00:56:31,520
Speaker 1: and say, hey, you know, I want to be the

881
00:56:31,560 --> 00:56:34,680
Speaker 1: only person to use Taco Tuesday, when essentially they can't

882
00:56:34,680 --> 00:56:40,040
Speaker 1: do so. So here's another billion dollar question. You know,

883
00:56:40,680 --> 00:56:43,160
Speaker 1: you have a lot of billion dollar questions. I do

884
00:56:43,239 --> 00:56:45,400
Speaker 1: because I want to educate people because I'm not everybody

885
00:56:45,480 --> 00:56:48,080
Speaker 1: is not meant to be an entrepreneur. But I think

886
00:56:48,320 --> 00:56:50,320
Speaker 1: because of the times that we are in, I do

887
00:56:50,480 --> 00:56:53,360
Speaker 1: want to encourage people and empower them too. You know,

888
00:56:53,440 --> 00:56:56,440
Speaker 1: you have to have multiple strains of income absolutely and

889
00:56:56,520 --> 00:56:58,960
Speaker 1: today's society, and I want people to go about the

890
00:56:59,520 --> 00:57:01,759
Speaker 1: right way because I went about the wrong way when

891
00:57:01,800 --> 00:57:05,319
Speaker 1: I first started off on my entrepreneur journey. So, um,

892
00:57:05,480 --> 00:57:09,040
Speaker 1: the question is what is the difference between inspiration and

893
00:57:09,160 --> 00:57:15,600
Speaker 1: copyright infringement? M m okay, so very very great question.

894
00:57:16,120 --> 00:57:19,800
Speaker 1: It's also very hard to explain as like a cut

895
00:57:19,920 --> 00:57:22,880
Speaker 1: and dry answer in one way, just for the simple

896
00:57:22,960 --> 00:57:29,000
Speaker 1: fact that there are so many different uh avenues in

897
00:57:29,120 --> 00:57:32,080
Speaker 1: ways that it could go depending on what the content is.

898
00:57:32,600 --> 00:57:36,160
Speaker 1: So essentially, and then with social media, social media has

899
00:57:36,200 --> 00:57:40,920
Speaker 1: thrown like a monkey wrench in the entire inspiration, copyright infringement, uh,

900
00:57:41,040 --> 00:57:45,280
Speaker 1: and so on. So essentially inspiration is what we call

901
00:57:45,480 --> 00:57:49,040
Speaker 1: in the law fair use. So that is, are you

902
00:57:49,320 --> 00:57:54,840
Speaker 1: using this copyrightable material, whether it be you know, quotes

903
00:57:54,920 --> 00:58:00,200
Speaker 1: from an article, pictures, um, part of somebody's podcasts? Ever,

904
00:58:00,680 --> 00:58:05,480
Speaker 1: Are you using that to generate revenue in your business

905
00:58:07,000 --> 00:58:09,080
Speaker 1: or are you using that to just spread the words,

906
00:58:09,240 --> 00:58:12,880
Speaker 1: spread some knowledge? Are you using that um in a

907
00:58:13,080 --> 00:58:15,240
Speaker 1: in a way where you're kind of taking it word

908
00:58:15,400 --> 00:58:19,520
Speaker 1: for word, or are you using that to um as

909
00:58:19,520 --> 00:58:22,320
Speaker 1: an inspiration? You know, you saw that they did something

910
00:58:22,440 --> 00:58:25,640
Speaker 1: and you built upon it and you kind of made

911
00:58:25,720 --> 00:58:30,520
Speaker 1: it your own. But you know, the I say all

912
00:58:30,600 --> 00:58:34,680
Speaker 1: that to say, it's not really clear as clear as

913
00:58:34,720 --> 00:58:36,840
Speaker 1: we would want it to be because it's always looked

914
00:58:36,880 --> 00:58:39,520
Speaker 1: at a case by case basis, and there are elements

915
00:58:39,600 --> 00:58:42,880
Speaker 1: to determine kind of is this copyright infringement? Can this

916
00:58:43,000 --> 00:58:45,880
Speaker 1: fall under fear you use? It? Also all depends on

917
00:58:46,320 --> 00:58:48,440
Speaker 1: who you have arguing for you. There's a lot of

918
00:58:48,560 --> 00:58:50,920
Speaker 1: things that I don't think or fear used like, or

919
00:58:51,160 --> 00:58:52,880
Speaker 1: things that I do think you're fear used that have

920
00:58:53,040 --> 00:58:56,520
Speaker 1: been argued either way. So it's kind of subjective subjective

921
00:58:56,680 --> 00:58:59,560
Speaker 1: in that manner I do. Just let people know, um,

922
00:59:00,120 --> 00:59:02,800
Speaker 1: you can use other people stuff for inspiration, especially with

923
00:59:02,920 --> 00:59:08,120
Speaker 1: social media right now, people repost other individuals items all

924
00:59:08,160 --> 00:59:11,800
Speaker 1: the time, but just be mindful of the way you

925
00:59:12,080 --> 00:59:16,440
Speaker 1: use it. Also be safety and sorry. If you are

926
00:59:16,680 --> 00:59:20,880
Speaker 1: using something and you're selling your products with someone else's

927
00:59:21,640 --> 00:59:27,080
Speaker 1: material of the time, that's copyright infrnchment. So like if

928
00:59:27,080 --> 00:59:30,240
Speaker 1: you're just reposting on a regular page because you love

929
00:59:30,400 --> 00:59:33,760
Speaker 1: I don't know, you love women empowerment quotes, and you

930
00:59:33,840 --> 00:59:37,240
Speaker 1: found a woman empowerment quote and you're not selling anything,

931
00:59:37,320 --> 00:59:40,880
Speaker 1: so you're not saying, hey, you know, my business makes

932
00:59:40,960 --> 00:59:44,000
Speaker 1: quotes like this and please come on this website to

933
00:59:44,160 --> 00:59:47,680
Speaker 1: get more, you'll be okay, you know, yes, you're using

934
00:59:47,760 --> 00:59:51,320
Speaker 1: these other posts, these other people's content as your inspiration.

935
00:59:51,800 --> 00:59:54,400
Speaker 1: It's fine. But once you start to link it to

936
00:59:54,720 --> 00:59:59,320
Speaker 1: selling something and gaining revenue yours, yes, yes, and you

937
00:59:59,360 --> 01:00:03,200
Speaker 1: know gain revenue on the on the back of someone

938
01:00:03,320 --> 01:00:07,040
Speaker 1: else's content, it really really tips the line of um

939
01:00:07,960 --> 01:00:11,120
Speaker 1: copyright infringement and you have to be careful. So, yes,

940
01:00:11,240 --> 01:00:15,160
Speaker 1: you can use people's you know, stuff as inspiration, but

941
01:00:15,440 --> 01:00:21,360
Speaker 1: once it becomes very very similar and it's not inspiration.

942
01:00:21,440 --> 01:00:23,840
Speaker 1: It's no longer you're using it as an inspiration. You're

943
01:00:23,920 --> 01:00:28,800
Speaker 1: kind of like essentially copying them turns into copyright infringement

944
01:00:28,920 --> 01:00:30,800
Speaker 1: and you have to be super careful when it comes

945
01:00:30,880 --> 01:00:35,240
Speaker 1: to that. So how can people protect their content on

946
01:00:35,400 --> 01:00:42,280
Speaker 1: social media? So um with copyrights, that's how you did

947
01:00:43,080 --> 01:00:46,040
Speaker 1: with copyrights, but you know, social media, it's very it's

948
01:00:46,040 --> 01:00:48,120
Speaker 1: like the wild wild West when it comes to social media.

949
01:00:48,320 --> 01:00:55,080
Speaker 1: And this is uh extension of the law and the

950
01:00:55,240 --> 01:00:58,720
Speaker 1: legal field, and the legislators have not really caught up

951
01:00:59,000 --> 01:01:02,040
Speaker 1: as much as you would want them to to what's

952
01:01:02,080 --> 01:01:08,880
Speaker 1: happening currently. So currently you can sue someone for using

953
01:01:09,400 --> 01:01:15,400
Speaker 1: technically you can sue someone for using your images without

954
01:01:15,520 --> 01:01:18,400
Speaker 1: your authorization on social media. Do a lot of people

955
01:01:18,440 --> 01:01:22,480
Speaker 1: do it? No, but paparazzi more recently have been doing so.

956
01:01:23,080 --> 01:01:27,440
Speaker 1: They have been suing celebrities for using their pictures and

957
01:01:27,560 --> 01:01:29,560
Speaker 1: it's like pictures of them, so like the celebrity would

958
01:01:29,600 --> 01:01:33,360
Speaker 1: take a picture. I think, uh, Justin Bieber got hit

959
01:01:33,440 --> 01:01:35,520
Speaker 1: with one. A couple of you know, major celebrities have

960
01:01:35,600 --> 01:01:39,600
Speaker 1: gotten hit with that where they took paparazzi's pictures of

961
01:01:39,720 --> 01:01:42,640
Speaker 1: them like they were the muse in the picture, and

962
01:01:43,160 --> 01:01:47,680
Speaker 1: they and they posted it on their page, on their page,

963
01:01:48,040 --> 01:01:50,200
Speaker 1: and as you know, these celebrities do generate a lot

964
01:01:50,240 --> 01:01:53,720
Speaker 1: of revenue from posting on social media. And the paparazzi

965
01:01:53,800 --> 01:01:57,080
Speaker 1: turned around and sued them and basically said, listen, you

966
01:01:57,320 --> 01:02:02,920
Speaker 1: are using my images without my, um my knowledge and

967
01:02:03,000 --> 01:02:06,280
Speaker 1: my permission. You're also generating some sort of revenue. You're

968
01:02:06,360 --> 01:02:10,600
Speaker 1: making money off of posting media. Yeah, you're making money

969
01:02:10,920 --> 01:02:13,920
Speaker 1: from posting on social media. You now need to pay

970
01:02:14,000 --> 01:02:17,120
Speaker 1: me for copyr infringement. It's crazy, I know, but it

971
01:02:17,280 --> 01:02:21,640
Speaker 1: can happen. So um yes, protecting yourself with social media.

972
01:02:21,880 --> 01:02:26,600
Speaker 1: As a copyright owner, you can enforce that. You can

973
01:02:26,640 --> 01:02:30,000
Speaker 1: go on Twitter, you can contact Instagram, you can contact

974
01:02:30,280 --> 01:02:32,960
Speaker 1: you know whatever, Shopify, scue Space, all of those that

975
01:02:33,120 --> 01:02:35,600
Speaker 1: have it taken down as long as you have a

976
01:02:35,720 --> 01:02:39,720
Speaker 1: registered copyright um for whatever that content is. And then

977
01:02:39,920 --> 01:02:42,680
Speaker 1: on the flip side, as a consumer who's looking to

978
01:02:42,880 --> 01:02:46,480
Speaker 1: use somebody's images on your social media that is protected

979
01:02:46,520 --> 01:02:50,200
Speaker 1: by copyright, like I said before, be safe and sorry,

980
01:02:50,560 --> 01:02:53,720
Speaker 1: reach out to them. Hey, X, Y and Z can

981
01:02:53,800 --> 01:02:56,760
Speaker 1: I use this? Is it? Okay? Do I get your permission?

982
01:02:56,960 --> 01:02:59,600
Speaker 1: A lot of times people say of course it's fine

983
01:03:00,000 --> 01:03:04,240
Speaker 1: and that you proceed with that. Do you recommend contracts

984
01:03:04,280 --> 01:03:11,280
Speaker 1: for everything, everything, as far as every business transsection? Yeah, yeah,

985
01:03:11,800 --> 01:03:16,520
Speaker 1: absolutely absolutely. I Um, even if it's something mind new,

986
01:03:16,600 --> 01:03:18,280
Speaker 1: like because I know you touched on this earlier with

987
01:03:18,360 --> 01:03:21,400
Speaker 1: the with the hashtag, you have the process certain times

988
01:03:21,400 --> 01:03:23,040
Speaker 1: because a lot of people don't understand like that it's

989
01:03:23,120 --> 01:03:27,760
Speaker 1: so crucial. It's so crucial, it's so crucial, and you know, um,

990
01:03:28,480 --> 01:03:31,240
Speaker 1: even though it might be minute, I always think of

991
01:03:31,320 --> 01:03:35,480
Speaker 1: it as how minute is it? And will you be

992
01:03:35,760 --> 01:03:39,120
Speaker 1: upset if the person doesn't actually do what you expected

993
01:03:39,200 --> 01:03:43,439
Speaker 1: them to do? So give or take? You enter into

994
01:03:43,480 --> 01:03:46,800
Speaker 1: a contract, you send someone some I don't know, you're

995
01:03:46,800 --> 01:03:50,800
Speaker 1: selling something that that's worth ten dollars and you don't

996
01:03:50,840 --> 01:03:54,920
Speaker 1: have a contract, would you be upset? And would you

997
01:03:55,040 --> 01:03:57,440
Speaker 1: want to go after them legally if they did not

998
01:03:57,560 --> 01:03:59,880
Speaker 1: send you that ten dollars. Now, if it's a situation

999
01:04:00,040 --> 01:04:03,040
Speaker 1: where you're like, you know, this is just fly by night,

1000
01:04:03,440 --> 01:04:07,800
Speaker 1: I don't really care. Then in those instances, some people

1001
01:04:07,880 --> 01:04:10,880
Speaker 1: don't send contracts because they don't really they aren't really

1002
01:04:10,960 --> 01:04:13,960
Speaker 1: invested in what the outcome might be. But as long

1003
01:04:14,040 --> 01:04:17,000
Speaker 1: as you are invested in the outcome, and as long

1004
01:04:17,080 --> 01:04:21,000
Speaker 1: as you want to have the legal rights and remedies

1005
01:04:21,120 --> 01:04:24,080
Speaker 1: to go after the other party, you need to have

1006
01:04:24,160 --> 01:04:27,479
Speaker 1: a contract. Even if you're not you're not swapping any

1007
01:04:27,640 --> 01:04:31,000
Speaker 1: sort of money. I mean I tell people all the time,

1008
01:04:31,560 --> 01:04:35,640
Speaker 1: even when you're bartering with other UM creatives or entrepreneurs.

1009
01:04:35,960 --> 01:04:40,800
Speaker 1: You know, you're a service provider and you tell someone, hey,

1010
01:04:40,960 --> 01:04:43,360
Speaker 1: you know, i'll provide your service for you know, a

1011
01:04:43,480 --> 01:04:46,200
Speaker 1: couple of your products. You need a contract for that,

1012
01:04:46,280 --> 01:04:48,560
Speaker 1: because what if you provide the service the person ever

1013
01:04:48,640 --> 01:04:51,440
Speaker 1: sends the products, then you don't have any sort of

1014
01:04:52,040 --> 01:04:57,640
Speaker 1: UM documentation that's essentially yeah, like you don't have anything

1015
01:04:57,720 --> 01:05:02,840
Speaker 1: that says, um, this is what we agreed upon. So yes,

1016
01:05:03,160 --> 01:05:09,720
Speaker 1: I strongly, like, I strongly, strongly, strongly encourage everyone to

1017
01:05:09,880 --> 01:05:12,920
Speaker 1: have a contract. And I say, and my clients all

1018
01:05:12,960 --> 01:05:16,560
Speaker 1: this already. If you cannot enter into a contract when

1019
01:05:16,640 --> 01:05:19,800
Speaker 1: it comes to something that you're doing for your business,

1020
01:05:20,080 --> 01:05:22,440
Speaker 1: then you shouldn't be doing that. If this is a

1021
01:05:22,560 --> 01:05:25,480
Speaker 1: person who you who doesn't want to enter into a

1022
01:05:25,600 --> 01:05:28,880
Speaker 1: contract with you and are extremely hesitant to move forward

1023
01:05:28,960 --> 01:05:31,680
Speaker 1: with a contract, that's not the person you need to

1024
01:05:31,720 --> 01:05:36,280
Speaker 1: be working with. UM. How important is it to have

1025
01:05:36,400 --> 01:05:39,440
Speaker 1: a privacy policy in terms of service on your website?

1026
01:05:41,040 --> 01:05:47,200
Speaker 1: Very important. Privacy policy is not is not UM is mandated. Sorry,

1027
01:05:47,560 --> 01:05:52,360
Speaker 1: privacy policy is mandated by America UM. The law states

1028
01:05:52,440 --> 01:05:56,040
Speaker 1: that you need to have noticed letting people know what

1029
01:05:56,360 --> 01:05:59,640
Speaker 1: information you are going to take from them while they're

1030
01:05:59,680 --> 01:06:02,160
Speaker 1: on your website, and how you're going to store it,

1031
01:06:02,360 --> 01:06:06,160
Speaker 1: how you're going to safeguard it. Also, how can they

1032
01:06:06,280 --> 01:06:09,120
Speaker 1: delete their information if they want to? So a lot

1033
01:06:09,240 --> 01:06:13,280
Speaker 1: of people sometimes will go on websites and sign up

1034
01:06:13,400 --> 01:06:16,840
Speaker 1: for something and decide, oh, wait, I no longer want this.

1035
01:06:17,840 --> 01:06:20,680
Speaker 1: How can they contact you to delete their information off

1036
01:06:20,680 --> 01:06:23,800
Speaker 1: from your website? Because that's someone's personal information. If they

1037
01:06:23,880 --> 01:06:26,160
Speaker 1: no longer wanted to be on their you need to

1038
01:06:26,240 --> 01:06:29,480
Speaker 1: give them the steps that they should take to get

1039
01:06:29,560 --> 01:06:33,120
Speaker 1: that information off. So very very important. A lot of

1040
01:06:33,200 --> 01:06:36,440
Speaker 1: small business owners do not incorporate that into their business,

1041
01:06:36,600 --> 01:06:40,200
Speaker 1: and it's a big mistake because you can be sued

1042
01:06:40,760 --> 01:06:43,800
Speaker 1: if you do not have that privacy policy posted on

1043
01:06:43,880 --> 01:06:49,280
Speaker 1: your website. UM. In terms of service UH slash terms

1044
01:06:49,320 --> 01:06:54,760
Speaker 1: and conditions. They're used interchangeably. They are equally as important,

1045
01:06:54,840 --> 01:06:58,560
Speaker 1: but they're not mandated by law. So the law does

1046
01:06:58,600 --> 01:07:00,959
Speaker 1: not state that you need to have it. I say

1047
01:07:01,720 --> 01:07:04,400
Speaker 1: it should be mandated by law, and I encourage all

1048
01:07:04,480 --> 01:07:07,320
Speaker 1: of my business owners to have that on their website

1049
01:07:07,360 --> 01:07:11,960
Speaker 1: as well. It's the law of the land. So all

1050
01:07:12,120 --> 01:07:17,240
Speaker 1: websites have um aspects of it that can land them

1051
01:07:17,320 --> 01:07:20,560
Speaker 1: in in hot water. You know, all websites have things

1052
01:07:20,680 --> 01:07:24,840
Speaker 1: that can probably you know, be some sort of liability

1053
01:07:24,960 --> 01:07:27,240
Speaker 1: for them in the future. So this kind of just

1054
01:07:27,400 --> 01:07:31,200
Speaker 1: sets it all out and says, here's what my website is.

1055
01:07:32,000 --> 01:07:35,200
Speaker 1: If you if your website, for example, is offering information

1056
01:07:35,520 --> 01:07:39,560
Speaker 1: um similar to here. You know, we're on a podcast.

1057
01:07:39,600 --> 01:07:42,240
Speaker 1: If you post this podcast on your website and someone says, well,

1058
01:07:42,320 --> 01:07:47,360
Speaker 1: I listened to Professional Homegirl podcast and I there, yeah,

1059
01:07:47,880 --> 01:07:51,400
Speaker 1: you know, in the sense that happens, and they now

1060
01:07:51,960 --> 01:07:55,440
Speaker 1: they now take whatever advice that's given on your podcast,

1061
01:07:55,840 --> 01:07:58,200
Speaker 1: and then go back and say, oh, well, you know,

1062
01:07:58,280 --> 01:08:00,760
Speaker 1: I followed whatever was said on here. Now I am

1063
01:08:00,840 --> 01:08:04,880
Speaker 1: out X amount of dollars. These terms and conditions are

1064
01:08:04,960 --> 01:08:07,960
Speaker 1: going to limit your liability for all of those claims.

1065
01:08:08,040 --> 01:08:10,400
Speaker 1: So it's it's kind of just kind of negate all

1066
01:08:10,480 --> 01:08:13,280
Speaker 1: of that any sort of blog information that's gonna say

1067
01:08:13,560 --> 01:08:17,519
Speaker 1: this is for informational purposes. You purpose only you know,

1068
01:08:17,760 --> 01:08:21,160
Speaker 1: use it your discretion, X, Y, and z. UM. Your

1069
01:08:21,240 --> 01:08:23,840
Speaker 1: terms and conditions are also going through. If you are

1070
01:08:24,040 --> 01:08:28,200
Speaker 1: a e commerce it's also going to house your shipping policy,

1071
01:08:28,479 --> 01:08:32,960
Speaker 1: your return policy, your exchange policy, all of those of

1072
01:08:33,080 --> 01:08:36,120
Speaker 1: being your terms and conditions and are just really really

1073
01:08:36,240 --> 01:08:40,679
Speaker 1: great tools to have. UM. I strongly suggest it because

1074
01:08:40,720 --> 01:08:45,560
Speaker 1: it's kind of like having a moment. I don't know

1075
01:08:45,560 --> 01:08:46,840
Speaker 1: if this is an analogy, but it's kind of like

1076
01:08:46,960 --> 01:08:50,120
Speaker 1: having a country with no laws. That's that's what it is.

1077
01:08:50,240 --> 01:08:52,479
Speaker 1: You know, your website needs to have some sort of

1078
01:08:52,640 --> 01:08:55,320
Speaker 1: law of the land and says this is how we

1079
01:08:55,520 --> 01:08:58,360
Speaker 1: deal with things over here. So in the event that

1080
01:08:58,439 --> 01:09:01,080
Speaker 1: there are any issues or in even even have any

1081
01:09:01,160 --> 01:09:04,679
Speaker 1: questions or inquiries and stuff, look to these rules. Look

1082
01:09:04,720 --> 01:09:06,640
Speaker 1: to the law of the land. It's housed here in

1083
01:09:06,720 --> 01:09:10,720
Speaker 1: our terms and conditions. So UM, yes, they both are

1084
01:09:10,800 --> 01:09:14,519
Speaker 1: equally as important, and I suggest every business owner to

1085
01:09:14,840 --> 01:09:19,040
Speaker 1: look into having those drafted. And one thing that I

1086
01:09:19,160 --> 01:09:23,880
Speaker 1: do want to mention, um, you can go online, like

1087
01:09:23,960 --> 01:09:27,000
Speaker 1: I said, google University. Sometimes you can google and find it,

1088
01:09:27,160 --> 01:09:31,160
Speaker 1: but do not, I repeat, do not copy someone else's

1089
01:09:31,320 --> 01:09:36,320
Speaker 1: terms and conditions or privacy policy. I rather um an

1090
01:09:36,439 --> 01:09:39,400
Speaker 1: individual get a template and use just like a blanket

1091
01:09:39,439 --> 01:09:43,639
Speaker 1: template and turn that template into their own, versus going

1092
01:09:43,760 --> 01:09:46,839
Speaker 1: to someone else's website who is you know, your competitor,

1093
01:09:46,960 --> 01:09:51,240
Speaker 1: and copying their terms and conditions or privacy policy. Because

1094
01:09:51,320 --> 01:09:54,439
Speaker 1: no two businesses are the same, you might put something

1095
01:09:54,640 --> 01:09:57,280
Speaker 1: up there. I've gone on people's websites that are, you know,

1096
01:09:57,400 --> 01:10:00,360
Speaker 1: located in New York and it says some being along

1097
01:10:00,400 --> 01:10:03,880
Speaker 1: the lines of if there are any lawsuits, please bring

1098
01:10:04,000 --> 01:10:09,720
Speaker 1: the lawsuit in England, and yeah, you know, stuff like that,

1099
01:10:10,040 --> 01:10:14,840
Speaker 1: And it just goes to show, you know, copying someone

1100
01:10:14,920 --> 01:10:18,599
Speaker 1: else's terms and conditions and privacy policy can be more

1101
01:10:18,760 --> 01:10:23,080
Speaker 1: detrimental to you than anything. So don't copy someone else.

1102
01:10:23,680 --> 01:10:26,920
Speaker 1: Create your own, go through it with a fine tooth comb,

1103
01:10:27,040 --> 01:10:29,600
Speaker 1: and ensure that everything that is in that one that

1104
01:10:29,760 --> 01:10:33,040
Speaker 1: you create is applicable to your business, because I mean,

1105
01:10:33,120 --> 01:10:36,120
Speaker 1: come on, imagine a New York company and someone sues

1106
01:10:36,120 --> 01:10:38,840
Speaker 1: you in England and then you go back and say, well,

1107
01:10:38,920 --> 01:10:40,800
Speaker 1: I'm a New York company and they say, well, your

1108
01:10:40,880 --> 01:10:44,920
Speaker 1: terms and conditions says any lawsuits to be brought in England,

1109
01:10:45,120 --> 01:10:47,280
Speaker 1: And here you are on a plane every couple of

1110
01:10:47,360 --> 01:10:52,879
Speaker 1: months going back and forth to England child and that's extreme,

1111
01:10:53,080 --> 01:10:57,480
Speaker 1: that's super extreme, but it happens. Yeah, I'm not surprised,

1112
01:10:57,600 --> 01:11:02,080
Speaker 1: especially um from not least. What is your advice to

1113
01:11:02,160 --> 01:11:05,800
Speaker 1: those entrepreneurs that have the do it yourself mentality when

1114
01:11:05,840 --> 01:11:11,439
Speaker 1: it comes to taking legal matters into their own hands. Um, So,

1115
01:11:13,360 --> 01:11:15,639
Speaker 1: you can do it yourself. You can do some things

1116
01:11:15,720 --> 01:11:18,800
Speaker 1: your yourself, but I always suggest there is a time

1117
01:11:18,840 --> 01:11:22,920
Speaker 1: where you do bring on a professional in every aspect,

1118
01:11:22,960 --> 01:11:25,519
Speaker 1: So not even in the legal, but in every aspect.

1119
01:11:25,640 --> 01:11:29,559
Speaker 1: There are professionals who do have more knowledge on whatever

1120
01:11:30,520 --> 01:11:33,680
Speaker 1: the topic at hand is and they are going to

1121
01:11:33,800 --> 01:11:37,519
Speaker 1: be the person to ensure that you do not fall

1122
01:11:37,640 --> 01:11:41,679
Speaker 1: down whatever these pitfalls are. You do not lead yourself

1123
01:11:41,760 --> 01:11:44,040
Speaker 1: down a wrong path. So there's a lot of people

1124
01:11:44,080 --> 01:11:46,479
Speaker 1: who like to do things in their own Like you said,

1125
01:11:47,360 --> 01:11:50,000
Speaker 1: I don't discourage it because I get it. I understand

1126
01:11:50,040 --> 01:11:52,160
Speaker 1: sometimes you want to take your business into your own hand,

1127
01:11:52,640 --> 01:11:55,240
Speaker 1: but you are like no man is an island. You

1128
01:11:55,360 --> 01:11:58,280
Speaker 1: want to make sure that you are bringing on professionals

1129
01:11:58,600 --> 01:12:02,240
Speaker 1: who have studied is and who also will be able

1130
01:12:02,320 --> 01:12:05,720
Speaker 1: to ensure that you don't make any mistakes. So at

1131
01:12:05,760 --> 01:12:08,960
Speaker 1: the outset. Yes, you can d I Y it's okay.

1132
01:12:09,120 --> 01:12:11,720
Speaker 1: I do also give a lot of tips, and I

1133
01:12:11,880 --> 01:12:14,120
Speaker 1: do empower a lot of people to d I Y

1134
01:12:14,520 --> 01:12:17,439
Speaker 1: certain aspects of their business. Per se for meing a

1135
01:12:17,680 --> 01:12:20,400
Speaker 1: llc um. You know, if you want to do a

1136
01:12:20,479 --> 01:12:23,280
Speaker 1: quick term sheet or something of that nature, you can

1137
01:12:23,439 --> 01:12:27,360
Speaker 1: d I Y certain aspects and other aspects. I strongly

1138
01:12:27,520 --> 01:12:30,519
Speaker 1: suggest for you to bring on a professional just to

1139
01:12:30,800 --> 01:12:36,240
Speaker 1: eliminate the issues that might come later on. So I'm

1140
01:12:36,280 --> 01:12:38,920
Speaker 1: not I'm not completely against d I Y, but I

1141
01:12:39,080 --> 01:12:43,759
Speaker 1: just want to encourage everybody to just work with an attorney.

1142
01:12:44,120 --> 01:12:46,920
Speaker 1: It saves a lot of time. It also saves you

1143
01:12:47,040 --> 01:12:49,200
Speaker 1: a lot of money to just work with the attorney

1144
01:12:49,240 --> 01:12:53,639
Speaker 1: at the at the beginning. But I am super excited

1145
01:12:53,680 --> 01:12:56,880
Speaker 1: about this conversation. I think this has been way overdue.

1146
01:12:57,479 --> 01:13:00,960
Speaker 1: Thank you, thank you, no, thank you. So I feel

1147
01:13:01,000 --> 01:13:04,200
Speaker 1: like if anybody have any questions, comments or concerns, you

1148
01:13:04,240 --> 01:13:05,840
Speaker 1: want to reach out to my guests, even though all

1149
01:13:05,880 --> 01:13:08,920
Speaker 1: of my guests are anonymous. But I'm all about sharing

1150
01:13:08,960 --> 01:13:12,360
Speaker 1: the wealth. That's the Brooklyn way. Yes, make sure to

1151
01:13:12,520 --> 01:13:15,040
Speaker 1: email me a hello at the PhD podcast dot com.

1152
01:13:15,160 --> 01:13:18,320
Speaker 1: This has been an amazing episode and I just want

1153
01:13:18,360 --> 01:13:20,000
Speaker 1: to thank you so much to my guest, I really

1154
01:13:20,040 --> 01:13:22,960
Speaker 1: appreciate it. Thank you, thank you so much, and I

1155
01:13:23,200 --> 01:13:25,799
Speaker 1: look forward to speaking to you some more and hopefully

1156
01:13:25,920 --> 01:13:30,920
Speaker 1: to some of your listeners. Yes, and until next time, everyone, Later,