An aspiring entrepreneur asks whether it's legal to take a salary from investor capital. Ask Entrepreneur's business expert answers, also suggesting crucial factors to consider before leaving a job and salary behind for any startup.
I'm interested in creating a social network. Are there any legal issues I should consider before I start or along the way? For example, could the data I'd like to collect from users (and how I use that data) have legal issues that need to be addressed? What about how members will interact with each other or the types of content members can create and share? With so many social networks already out there, are there ways I can minimize risk when it comes to getting sued by others who may see my site as competition?
My family runs a snack bar business that unfortunately has to close down. How should we go about selling our excess inventory (approximately 30,000 bars at 12 bars per box)? The lot expires in July 2013. Any suggestions for marketing promotions, special deals or ways to get the word out about our products FAST would be great.
I'm wondering whether an internship is required to be an entrepreneur, or whether at least it could be a key component of one's preparation. Say I want to start a business in fashion retail or in data storage. (Very different, I know.) Should I get an internship or a low-level job in that industry first to learn the ropes? Are there some industries in which it's more necessary than others? When is it advisable, and when is it not essential?