Post: #1

Hey fellas,
I'm in the very early stages of creating a peer to peer online marketplace. One of the earliest things to do is create a Terms of Service agreement. I have no idea how to do this. Is this something I can just go online and copy and paste (and switch out company names) other companies Terms of Service or should I hire a lawyer to create my Terms of Service? Also, should I incorporate this business? If so, can I do it online or through a lawyer? Should I incorporate here in the US or somewhere else in the world? I have limited funds so I'm trying to find the least expensive way as possible.
Any and all advice are appreciated! Thanks!

Post: #2

I set up a business entity for the sole purpose of taking advantage of awesome tax write offs as a contractor.

First, you'll need to register your business in a state. Generally most businesses use Nevada or Delaware. You're welcome to do this in your home state, but you need to be aware of any fees and taxes that may ding you. Which takes me to my next point:

You will also need to find a reputable tax accountant. Someone who you can ring up for advice and also prepare your papers when the time comes.

Finally, yes I also recommend you find a small business attorney to help you draft up a simple terms of service agreement. Not all TOSes are alike and it's important you get the right coverage for yourself. Otherwise you open yourself up to some liabilities which can financially ruin you.

The best part about all of this is the fact that business expenses are a tax write off! Make sure you keep all receipts (digitize them) and properly record the expenses in a spreadsheet. I use Google apps for this.

Good luck!

Post: #3

You can copy and paste ToS but you do want some specific language pertaining to what you do and disclaiming certain liability beyond the boiler plate language. OT but You wouldn't happen to have any experience with App development would you? If so, I am an attorney and would be interested in bartering if you're up for it

Post: #4

If you have a friend who has a law degree, they ought to be able to sort you out in a couple of hours. Cash in hand, very cheap to sort it assuming it is an important protection for your project.