We interrupt our Yahoo! serial as we've had a request for an article about how to start a business that will "live" mostly online. This doesn't necessarily mean a business within the internet industry... maybe you want to sell gifts or promote yourself as a consultant... any new business! Many of the steps here are the same for setting up any type of business, but we'll get to the internet side of it all somehow. :)
#1: No free ride
Just because the business may exist wholly or mostly on the internet doesn't mean it will be free or cheap. There are many aspects of having a new business and website that will cost money (if you want to do them right/well). There are cheap options we can look at, but I'll also show you why laying out the money is really worth it.
#2: Stepping on intellectual toes
One of the first things you should do when deciding on a company name/logo/slogan is to get an intellectual property (IP) attorney who can help you trademark or service mark these things for your protection. This whole process is done for two main reasons: firstly, you want to make sure that your idea wasn't already thought of! It would really stink for you to create this company and build a website and identity and THEN find out you are competing with someone with a similar name who's been around longer than you have. You will be in major trouble. Secondly, you want to make sure once you've created a unique identity that you register it to protect yourself from a competitor down the road who may purposefully or accidentally use a similar mark.
- Cheap alternative 1: Trademark it all in some foreign country that's nearly giving it away. I'm against this as I feel it's very important to register your marks in the country or countries where you are doing most of your business. If you don't plan to do stacks of business in beautiful Tunisia, then don't trademark there only or at all.
- Cheap alternative 2: You can do trademark searches or perhaps registrations too (I can't remember) at the US Patent and Trademark Office website. While a prelim cheapo search may be a good idea to start checking out if people are already using marks like your proposed ones, you may want to have a real skilled IP attorney review the results they obtain. They are able to use their experience and knowledge of marks and the law to advise you on ones that may be too similar or ones that are similar but are diluted enough to be OK. Don't ask me to explain - if this sounded twisty turny, you are starting to see why involving (and paying for) a professional is important.
