Ok guys, here is where i need help.

I am starting a company, and i am in need of help learning more informaion aabou Legal Issues!

Please post any legal issues or tips here.

Where are you opening the company?
What type of company is it?
What kind of legal issues are you talking about? taxes? registration?

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Sohaib

I will be starting a hosting company, and a program company.

and i need to know like everthing, my dad is too protectve of my money, and wont let me add a bank account to my paypal till i tell him info about the company, which i did and now he wants info about the legal issues.

It depends on the country you run your business from, I cant help you much because I am not located in the US, is that where your located? perhaps someone running a hosting business from there can help you out.

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Sohaib

You should look at major hosting companies TOS. Don't copy theirs, but it will give you an idea of what aspects need to be covered

Often the datacenters you put your servers in will request that you use their terms of service and it does save money on legal fees

But on the other hand I would suggest reading up on an LLC if you are located in the US. It is a good way to protect your personal assets as well as show lyability to your customers.

legalmatch.com is a good way to get lawyers to bid for you, you say what you want to do, they bid on how much they will charge you. It is like a reverse ebay. It is a good way to aquire lower cost attorneys that are bound by terms of service to provide you with good service for what ever price they bid.

Taxing might become a problem depending on how much you're making. I don't know all the ins and outs, but perhaps someone else does. Please share.

Hm. I've heard about that from somewhere. Can someone fill us in on that one? The tax thing.

You need to file all your earned income you make from your business. Plain and Simple.. If you do not and you get caught during an audit, you will be held accountable with serious fines. On the upside, because you are making all this money and you own your own business you are also allowed ALOT of deductions.
If you use the internet for your business, you can claim part of your phone bill, your isp bill, your cell bills etc etc.

To be very clear on the laws in your area check with the local tax office or a CPA, they can be very useful. You should also have an attorney on retainer for questions,