When you open your business, research any trademarks. Don't get two years into your business and then find that you have to change the name of a popular product or even your entire company because someone has realized you are using a variant of their name and wants to sue you. Do a federal or state trademark search on any proposed names for your company or products. If a proposed name is being used as a trademark, change it if your use of the name would confuse customers or if the name is already famous. Select the right employment structure for your business. Decide whether to hire employees or independent contractors – and learn the difference between the two. Decide whether or not to make yourself an employee. These decisions will often depend on the type of ownership structure you have chosen. When in doubt, check with qualified accountant who can make sure you stay out of trouble when it comes to hiring and payroll.