In today’s digital age, protecting your online business legally is more crucial than ever. Recently, I had the pleasure of interviewing Cory Sterling, founder of Conscious Counsel, who shared invaluable insights about legal essentials for online entrepreneurs, particularly in the health and wellness space.
Listen to this episode:
The Evolution of Online Business Legal Needs
Since the pandemic, the legal landscape for online businesses has transformed significantly. While early concerns centered around transitioning services online, today’s challenges are more complex. As Cory notes, we’ve moved from “What can we do online?” to managing an overflow of health and wellness professionals operating entirely digital businesses.
Key legal concerns now include:
– Protection on social media platforms
– Online liability waivers
– Privacy policies for digital businesses
– Client service agreements
– Intellectual property protection
– Updated behavioral expectations and inclusivity standards
One of the most crucial insights Cory shared was the concept of “pay now or pay later.” He emphasized that investing in proper legal protection early is always less expensive than dealing with legal issues after they arise. He shared a cautionary tale of a client who copied an agreement from their mentor, resulting in a $40,000+ legal problem that could have been avoided with proper documentation from the start.
Essential Legal Documents for Online Businesses
According to Cory, every online business needs four core documents:
1. Privacy Policy and Terms of Service: Protects you when collecting and sharing personal information
2. Waiver of Liability: Prevents potential lawsuits
3. Client Service Agreement: Defines the relationship with your clients
4. Social Media Disclaimer and Media Release: Protects you on social media and covers usage of audio, video, images, and testimonials
The digital business landscape continues to evolve, and with it, so do legal requirements and risks. While legal documentation might not be the most exciting part of building your business, it’s essential for long-term success and protection. As Cory puts it, the goal is to give business owners “security and confidence and peace of mind” so they can focus on growing their business without legal worries.
For more information about legal protection for your online business, you can follow Cory Sterling and Conscious Counsel on Instagram @consciouscouncil or visit their website at consciouscouncil.ca.
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