Hiromy: Malik, hey man! Thank you for meeting me on such short notice. I know how crazy your schedule is. Malik: Hey! No problem, I’m sorry I only have a few minutes until my next meeting. I haven’t seen you since Commencement! How’s it going? Hiromy: Well, I don’t know if you remember the gaming project I created for my MBA dissertation. Malik: I sure do! It was a hit! Hiromy: After the positive feedback I received from our colleagues and professors, I decided to invest in further developing it, and that’s what I’ve been doing for the past 2 years. It’s been a rough time, but I finally got a breakthrough. Malik: That’s awesome! Hiromy: Thanks! My game app is now ready to go, and I feel it’s time to register a business so I can manage my services. Plus, it is no longer a one-person job. I have no idea where to start, and you are the only person in my network that knows about business law. I’m hoping you can share your wisdom with me? Malik: Sure! I can highlight the main decisions you need to make on how to shape your business. The very first question is, how do you want to organize your business. The four options you have are a sole proprietorship, partnership, limited liability company, or corporation. Hiromy: How do I choose? Malik: Well, that depends on whether you will be the only owner, the liability you are willing to take on, and the decision-making authority you want to have. Hiromy: Actually, I recruited one friend to work with me a year ago, and she has been working on the game hand-in-hand with me ever since. She has significant contributions to the current design and is interested in investing in opening the business with me. Malik: Good to know! Next, you need to decide how to arrange employment for your business. You mentioned earlier that you need extra people for the workload you expect. Here you also have options. You can hire independent contractors, opt for employer-employee relations, or consider using a staffing agency to manage your employees. Hiromy: What do you think is the best option for me? Malik: You really need to weigh your options based on the liabilities and duties you are willing to take on as well as the responsibilities you want your business to have. Hiromy: Got’ya. What else should I consider? Malik: Property-related questions. My understanding is that you will need some office space for you and your employees, and therefore, you need to decide if you want to lease or acquire the real property for your business. More importantly, you need to protect your personal property - the game itself. Have you already taken any steps in that direction? Hiromy: Honestly, I have not. It’s not public yet, and just me and my partner have access to it. I know it’s an intellectual property I need to protect before it goes live. Malik: Indeed! In legal terms, the game is an intellectual property you acquired through creation. If you want to protect it as yours, though, you need to take action. You can either apply for a patent if you believe you have invented a code or something, or a copyright on your game. And don’t take your time on this! Hiromy: Will do! Malik: Next, you need to know what exactly your business will sell. Are you selling your game as a product your customers use on their own, or are you are selling the game as a service? There is a legal difference between sales of goods and contracts for services. Hiromy: As of now, the game will come as a mobile app. Our goal is to improve its features and add new services continuously. Malik: Cool, you’ve got this covered. I have to run to my next meeting, but my last piece of advice is to consider the risks your business might be exposed to so you can take protective actions. Hiromy: My head is spinning with all this information. Thank you very much for all the legal insights. Any chance you can shoot me an email with a reminder on all the decision points you just shared with me? Malik: Sure! I’ll write you a recommendation proposal with all the questions you need to think about as well as an overview of your legal options. I’ll share my suggestions, but you’d better get a lawyer. I hope you consider signing up with us. Hiromy: I certainly will. Thanks again, Malik! Much appreciated. Malik: My pleasure. Good luck!