How To Get Your Business Formed On The Right Foundation! Feat.Jay Razzouk @jayrazzouk

👨‍💼💰📈 In this episode, John and La'Fayette are joined by special guest Jay Razzouk, a California business attorney with over 10 years experience litigating across 20 states in matters involving legal compliance at Fortune 500s. Jay stops by to share how business owners can employ legal strategies to protect their business, how to avoid excessive taxation,  the importance of copyrighting,  how to scale your business beyond 7& 8 figures and more!  To hear more of how you can get your business formed on the right foundation you'll have to hit that PLAY & DOWNLOAD button!

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Transcript

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Welcome to the unscripted Authentic Leadership Podcast. The podcast we are seeking to lead change while also seeking to understand. We're also here as a platform for leaders to come together, to unite, to develop and empower other leaders in the areas of business, family and community. I'm your host. Lafayette Lane joined Jobar, my co-host John LeBrun. And today we are joined by special guest Jay Resu. Put those chlorpyrifos in the comments section, put those hands together, make Jay feel real well. Jay has joined us today to have a conversation on how to get your business formed on the right foundation. A little bit about Jay. He is a California business attorney with over 10 years experience litigating across 20 states in matters involving legal compliance at Fortune 500. He is also the founder of pro scale legal coaching and the secure skilled method. Jay now helps small businesses, business owners, to employ legal strategies to protect their business and scale beyond seven and eight figures. Jay, thanks for coming on. Make Alafia for having me here and John. Very excited to talk about these things. It's great. Absolutely. Absolutely. Listen, those of you that are watching this, go ahead and share. Take a picture. Let us know that you're watching. Put it in the comments section. Let us know that you're enjoying the episode. All right, Jay, let's get the ball rolling, man. We're talking about how to get your business formed on the right foundation. You have three areas that I was very interested in on your website that you help businesses and entrepreneurs do, and that is protect their business, elevate the customer experience and securely scale beyond seven and eight figures. Now, that's three components there. Could you break each of those down? Can we start with how you help protect people's businesses? So I help people protect their businesses in a couple of different ways. First, I really help them lay down a actually let me starting from number one, which is mindset. And and in terms of those are believers, we might say it's even more your heart. And that's going to be your first and foremost best foundation, because if you have that in place, you might not even need everything else because you're going to build rock solid relationships. And that actually gets into the second one of how you elevate your customer experience. It's really about who you are and what you are to them. And then to protect you. Also, it's good to just understand the laws and having the right contracts in place. You have the right structures in place and you can have insurance. You can have all of these things also that go to make it overall very well-built business. And when you combine those things to me, you're going to be impenetrable. OK, so you said that before the three, you started with mindset. We're talking about getting your business form on the right foundation, which I think is really good because everything always does start in the mind. Can you unpack that a little further when you're talking about having that right mindset? What does that really mean? So I believe we were made to love and to be loved. And that is a very important concept, because at the end of the day, what do we all expect? What do we want? Why are we even alive? You hear a lot of coaches like business people say, well, we all want to be rich, we want to be successful, we want to be able to go on vacation. But why it is vacation, even matter what is being successful, even matter. It's because of the relationships, our family or friends, the people. So if we have that mindset of what I call the loving mindset, the golden mindset, now you're going to be in the right place where you're going to be meeting people's core expectation of needing love. And if you look at what the whole set of law we have is focused on. And I'm talking about the thousands, tens of thousands, depending how you count millions of rules we have. It's all aimed at getting us to not lie, not cheat, not steal, not kill, and not to discover, not to discriminate. And all of those things actually fall under the scope of love. And so to me, the best legal advice I've ever read in my entire life is, you know, love, joy, peace, happiness. I mean, you go down the list. Self-control against these things? There is. No law. And if you think about it, if you're loving people, you're not going to be breaking the law. If you love your people, you're going to be achieving what the law wants you to do and you're probably going to go be on the law and you're going to have people who are going to be happy, they're going to be your customers that are going to keep coming back to you. They're going to be your lifelong customers. They're going to be leaving you positive raving reviews. They're not going to be those people are going to be upset, feeling like they've been betrayed and then run and start talking to no tuna. An attorney who will then figure out how you broke some contract or violated some law. It begins with understanding and meeting people's core expectations, which, again, I believe is to be loved. Very cool. So I love that. So basically we're talking about a heart condition, and I love it starting there with the right heart and which is amazing. So. I understand that having the right heart. Basically, it's kind of like the I think I was talking to my son, I said, if you always tell the truth, you never have to remember what you said . Right. Yeah. You never see you're thinking, oh, it was it had to go again. You know, you just you know what she said. And so and I get it that there's probably not a hundred percent. Right. But if you are if you tell the truth, you know, if you remember the story, the next step, though, is. The people, so they have the right heart condition. They're treating people right. They're doing the best for their clients, customers, members, as they as they feel they can do. And you're in California, which probably is one of the states with some of the higher regulations as far as businesses, new businesses. If we were to take a brand new company and say they wanted to start the get start a foundation, what kind of advice would you recommend as far as like legal advice? Is a start with an LLC? Does it start with being incorporated? Is that the beginning? Maybe it doesn't matter. I get those questions a lot. I'm going to start a business. I should probably go get an LLC. Is that is that really that important? Great question. Let me ask you to like what cars are you driving right now if you're fine sharing? Sure. I drive an accord credit card. Kiya Sorento, SUV, these fancy. Not a lot. Yeah. Why are you driving the Sorento? Well, initially when I got it, I just like how comfortable it was. And now that I have a family, it has three rolls. So Nisa's. Yeah, I'm a bigger guy. It fits all my needs for my family, you know, things of that nature. Yeah. And then, John, why do you have the smaller car? Well, my family is not very big, but now Lafayette's family is not here, but he's he's probably six foot something. So I get what he's saying. But now I bought this Honda Accord because I had had a I had a similar vehicle years ago when my my my previous car, though, was having problems. I bought one that I could purchase without loans and so forth. And that was and I wanted it to last for quite a while so that it was affordable and it could last a while. Right. Yeah. Whereas Lafayette, you need something that was bigger, maybe put more people, you know, and maybe have special needs, like you would like to go on big trips, maybe you like to go camping . I don't know. Right. So is there anything wrong with an accord? Is there anything wrong with the Sorento? Not that I'm aware of. Right. It's just which one is right for you. Hmm. And this is the thing is that corporations are generally great. There's so many good aspects to them. Pelosi's there's so many good aspects to them. And maybe most of the time either one might work. But there are some nuances and it's got to be just like close to, you know, there's not necessarily bad clothes, but some will fit you and some won't. And this is where I really encourage people to if you got the money early on, it is good to spend like five thousand dollars upfront to set your business up. Right. And work with an with an attorney who's going to match you to the right business for you. And what's interesting is a lot of people think you stop at just picking between corporation or LLC or they tell me, oh, I have a corporation. They can ask a corporation is a type of business. And that is actually step two of how do you want to be taxed? And what's great is the ELSS, I'll just say this Elyse's are great in that they could be taxed pretty much any way you want it. They could be taxed as you as an individual. They could be taxed as a partnership. If there's many people, it could be taxed as an S corporation or a C corporation. But corporations can only be taxed as an S corporation or a C corporation. Mm hmm. And the big question is, when do you want to be taxed at an airport corporation? Jay, can you break down those three differences? Because you said LLC as a corporation and C corporation. What are those three for our audience? Those that don't know what those are like? Myself, I haven't never heard of SIRC. I probably know what they are of our LLC, but I don't I'm not familiar with SAAC Corporation. So Pelosi is just just a type of business entity like a corporation. There's really at the core two types of business entities or three types of business entities. There's a corporation, there's an LLC, and then there's individuals. And when two individuals come together, three, we call that a partnership. And then when you tax something, you could be taxed as individuals. You could be taxed as an S corporation, or it could be taxed as a C corporation. Now the C Corporation winds up these taxes, the C Corporation. What we're seeing is that business entity is going to be taxed as its own separate person. So imagining this, pretend that suddenly we could give life to this corporation and it could stand up and walk around and be with us, and then it would be separately taxed from you and me. That would be your C corporation. And there could be good reasons to do C Corp, for example, if you're wanting to do a Kickstarter and you're going to raise millions of dollars in a year. You don't want necessarily to suddenly have your personal income get slammed with millions of dollars. You're now going to hit a new tax bracket. You might get a whole bunch of really bad tax consequences as a result. So that's where like a C Corp could be great. Now, on the other hand, are what we call pass through entities. This is where they are ignored. The business entity is ignored for tax purposes, and the government wants to look at the individuals. So they say all three of us have a partnership or we all all have an LLC or we all have an SG corporation in any of those situations. The government is going to ignore the business entity and will then tax each of us individually. Now there's just one extra wrinkle. OK, then you're like, well, what's the difference, what's the difference between an S corporation? Right. And then being taxed as just purely as individuals. And it comes down to how do you want to pay your self employment tax? Now, if you are just a regular L.L.C. and you have not elected to have it be taxed as an s corporation, so you just your plain vanilla LLC, you don't do anything. You just go to legal zoom. You set it up. And you're running with it. One hundred percent of all the income you make from your LLC. We'll pass on to your personal income taxes and you will have to pay self employment tax on it. And when I'm talking about self employment tax, I'm talking about your fika, taxes, your Social Security, your Medicare tax. And these can be like around 17 percent. And your Social Security will stop at some point, but your Medicare taxes do not stop. So you make a million dollars, two hundred million dollars, whatever, you're paying a percentage on that income. And the rich are actually it kicks up a notch. So what's great about the corporation is you you pay yourself W2 wages. And then the rest of it is just pure income that's not subject to self employment tax, only your wages or self are are subject to the. I want to catch up with deployment tax, but your corporation will pay half of it and then you will pay half of it just like you were hired by a regular corporation . And then again, the rest of it is free from the self employment taxes. Huge potential savings. Now, you talk to different accountants, you hear different things, but it seems like the consensus is somewhere between thirty thousand and seventy thousand dollars in income from your business. Is that time when you should really start thinking about switching over to being an S corp? So basically the company income stays with this low tax is what you're saying outside of the W-2. So you're basically what you're saying is you have the company. We have ABC company. I'm the owner. Lafayette's the owner. We now are our employees of ABC Company drawing Adobe to. Receiving a salary, those are taxed at their appropriate W2 brackets. And then what happens with the remaining company? I know I know you have write offs and so forth. How does that how would that get taxed from there? Does it get taxed still or so? So what we talk about, what gets passed through the pass through is going to be your income and losses. So you start off with your top of the line above the line, that's revenues. And then you subtract from their your expenses and then you end up with your income and then it's the income net income, or it could be a net loss that will then pass on. So the net loss could be great because then you could offset that from other sources of income you have. But then the net income is then what you would then pay as an individual taxes on. Now, if you are. Or as a corporation or and an LLC. The copartnership or lcy, that's just plain vanilla, not an s corporation. They're ignored. The government is only looking directly at the individuals that the individual owners will pay the taxes. So the corporation does pay anything, and this is why people love these types of businesses, because only one level of ownership is being taxed or, you know, the business being skipped. And you have one one level, the owners themselves that are being taxed, OK, if you ever see a corporation. Mm hmm. Oh, sorry. If you have a C corporation, the corporation gets taxed. Mm hmm. Like right now, it's 21 percent. The government is looking at shooting that up into, you know, 30 percent. And then you issue dividends and then the dividends get taxed as well, and depending on your income bracket, that could be, I think, around 17 plus percent. So that's a lot of taxes. Yes. So they're assuming if you're a C corporation, it's open game to how you're spending that. So you're basically paying taxes on I'm guessing you're saying by S Corp, we're drawing a wage. That's what we have is the spendable income and that's what's going to get everything else is staying with the company most likely to get reinvested, and that's why it doesn't get taxed. Does that sound about right? That's right. So think of the the the C Corporation is kind of like a locked vault and the money goes into their it stays in there and it gets used by the business and the government. The sorry, the business can choose every now and then to issue dividends. So they'll say, hey, for every share, we'll give you 25 cents a dollar. And so those of us who own public companies, we have stock, you might know some of the blue chips or the big companies might from time to time give you a dividend. But and so it'll be the same thing if you yourself own a C Corp. And by the way, there are tax laws that prevent the hoarding of cash within the C Corporation. They'll have to periodically go and issue dividends and not have big piles of cash, cash, unless you're Apple and you probably have offshore businesses in your store in a cash that way. But most of us can't afford that because we can't afford the account and security accounts. Switzerland accounts got out of the mouth of yet another question. Go ahead and I'll follow. No, this is really good, because I think that you're helping not just us, but entrepreneurs that are listening, business owners that are listening, whether they're just getting started or whether they've been in for a while, especially breaking down those three components that you just did, especially about the excessive taxation piece. That's really, really big, because when we go to vote for different things, everybody that's an entrepreneur has a different mindset. Well, maybe I'll vote this way because I am a business owner. You just talk about those taxes. I've heard some of the numbers. I, you know, a future business owner. So, you know, my voting starts, we get another way, because these numbers that you just read, something that you just said. So I get it. I get it. My perspective is a little clearer now. And I think this is a really good I want to keep unpacking this whole protecting your business point that we're on, but kind of from the inside out. So how does a business protect itself from people on the outside? You have mentioned a few of those things. You know, we're in an Internet age, so anyone if I want to find out about your company, I don't have to come. I just put it in Google. I read the reviews that I can make a decision whether I want to buy at your company, whether I want to invest based off of other people's experiences. Right. Whether that's right or wrong. But how does a company protect itself from lawsuits? Unnecessary things like we've seen McDonald's a couple of years ago, they were sued by someone that spilled hot coffee on themselves. That person won that lawsuit because on their cup, it did not save. The coffee was hot. Right. And so now every time that you get a cup of coffee, it's as hot. So how can how can businesses protect itself? What some some of those measures they can put in place. Yeah, first couple of things you said I want to comment on first. It's always better to learn from someone else's mistakes. Definitely. OK, try to learn from someone else, as you mentioned. Yeah, but the McDonald's one, actually, that one is pretty interesting in that McDonald's made their water scalding hot. I mean, we're talking about like a couple hundred degrees hot because, you know, so people like the real fresh intensity of the super hot. But it was so hot, hot that when it spilled on that grandmother's lap, very sensitive spot, it left her with like second third degree burns, like severely hot. So the question was like, it doesn't even make sense to have something that hot, that dangerous. I mean, it might as well be like a toxic chemical that could be spilled at those temperatures, which comes back to a good good point for when you have a business. It's always good to think about again. Are you all right? Are you tending towards line to people chanting, people stealing from people or potentially killing and part of killing this? This is hurting people. It's good to be mindful of how you might cause injury to someone physically or economically if you have a good understanding of that. You know, the measures you can take to protect them. And I was blown away even when I read the Bible. There's even this law in there. You have to give in to the Israelites to make sure they have like a barrier or protection on the roofs, because back then they have more or less flat roofs and people would walk around beyond them and someone could fall off and get hurt if there wasn't this barrier around to protect them. So even safety was a major part of these laws given to these ancient Israelites. Same thing today, we value safety and protected people. So we're all under an expectation by the law to watch out for people to protect them. Now. You don't necessarily have to know every single law in and out and how they going apply to you if you have this concept in mind. Now, the best way to protect yourself from 360 is following what I call the the secure scale method. And it's an acronym. So it's easy to remember. It's very deep. Right. I'm going to give you a giving you a high level understanding of it. But these are five ways that you could protect yourself when you're setting up your business and running it, and the bigger you get, the more important these things become. So the first one is the PSD for scale. That's going to stand for structures. So these are go to spell out the word scale. The s stands for structures. You need to have the right structures in place to protect you. That starts with picking, you know, are you going to be an LLC or corporation? And sometimes partnership makes the most sense. How do you want to be taxed now? Do you want to be in SE Corp? You want to be a C Corp, which wants going to give you the best tax benefits. Then you ask yourself, how am I protecting my intellectual property? You might now need to have a bunch of contracts that place the right terms in your agreements so that your clients don't steal your stuff. Employees don't steal your stuff. And you're also given a framework for protection. And something I've noticed go through a lot of agreements, like I like helping online entrepreneurs. They're missing so much in the contracts that could be so helpful for them to prevent or resolve a dispute. You can have multiple layers in there where if someone has a problem, here's how you handle it. Here's the next step. Here's how you deal with it and put so many layers between you and them feeling like they need to run to their their attorney. I'm just blown away how many people don't have that? So those are structures. Now, the next one is right. Go ahead. Yeah, that's right, including protecting your IP. Now, when you're saying protecting your IP and every time I like non-disclosure agreements, those types of things, NDAs. That's right. Yeah. So. So India's that's a step separate standalone agreement we call called. But you could have clauses that are in NDAs as part of your independent contractor agreements. OK. Or I say so people throw it into their client agreements. Maybe there's a right situation where if you're sharing trade secrets and things like that with a client, you want them to protect that as well. So, yeah, exactly. That's how you could protect your IP or like for coaches in my my coaching agreement template that I provide. I specifically have a whole clause where I say, OK, if you're in my coaching program, I'm giving you permission, a license to use my videos, my templates, the things I'm giving you. But if you leave my program early or, you know, you break the rules, whatever, you lose that right to use my stuff. Because there's so many coaches you talk about how someone signs up for the program, downloads, everything, cancels it walks away, and they feel like they have nothing to stop that. Mm hmm. Have you has avideo, Lafayette? I see you nodding. No, I've seen it, though. Of course I have. Have it hopefully will happen. But people are people. And unfortunately, you have those devious minds. But yeah. Yeah. And and they just see so many people put clauses in their contracts, try to stop that. But I'm like, that clause isn't going to do it. You need a pretty robust eipe clause, in my opinion, to stop it. So the next so we talk about the right structures. Now, the next one is going to be community. You need to have the right community. And this involves the right clients. Be picky with who you take. Make sure they're a good match for you and you're a good match for them. Make sure you have the right employees, the right contractors. Don't just hire because you need to fill that position again. Make sure they're the right person, that you mess with them, that they're going to, you know, they take seriously. Your your internalized rule of love. And then vendors, your partners, your owners, your investors, like everybody, like really be mindful of who you're working with and that is going to save you so much time, money and headache. I have seen the best contracts in the world go wrong because it was just with the wrong person. People ask me all the time, Jay, how do I not get sued? This in a way you could prevent yourself from getting sued. You can't stop that. But if you're with the right person and you treat them right. There's probably never going to be an issue. And so any questions about that, about community? Yeah, it was pretty straightforward, it seems like. Right. Put into practice is is a little bit harder. That's what life teaches you. The next one is is an A for the right actions. You must take the right steps on a daily basis. To properly run your business. And the best way to know what you should do on a daily basis is to have policies and procedures in place. And now also this that that people cringe, right? Oh, no, not a policy procedure. Now we're becoming corporate. Right. But you know what? Think of it as a good thing. It shouldn't necessarily be there to tie your hand. It should be there to tell you how to handle a situation when it arises. You see it and you know what to do. So you can act quicker. You could act more precisely. You could act more consistently. Then that's why there there is for consistency, because people don't want to see you treat someone really easily and then you go really harsh on someone else when it's the same circumstance. But I definitely don't believe they should get in the way of people. Not being human right? We should always be human. So it's the right actions. The next one is loss. Lost limitations or lost limiters. And this is just a fancy way of saying insurance. Hmm. So there's all sorts of different types of risks that a business could face. I'm happy to report those five main risks, but one of those is general liability. And, you know, someone could slip a fall at your place, someone could buy your hot coffee and burn themselves. If you're a Ketso, that may be a give bad advice and they're very upset. Insurance is there to step in and fill in for you. And depending on your industry, interest could be very cheap. I've seen I've seen insurance for like health coaches as low as two or three hundred dollars. Yes. Yeah. Chefs can get pretty comprehensive insurance again for around three or four hundred dollars, so it's worth looking around and seeing what's available for you and your industry, and you might be surprised just how affordable it might be. And as you grow, you're going to have to get more insurance. Some of it's required you hire, hire your first employee and you have to provide them unemployment, disability, worker's comp insurance. All these benefits are mandatory. And I recommend everybody, everybody have as part of your team, an insurance broker will happily help you navigate the insurance system . All cool. The last and final one is E! For, um, for the enlightened mindset, which we actually spoke about earlier, where if you're just in your heart, you're in the right place to love people, to be honest with people, you're going to find you're not going to need attorneys most of the time. Hmm. Your problems aren't going to materialize because people will be happy, they'll be loving you and they want to even think think about suing you. Very cool. So scale. As an pro scale pro scale, and that's the stickier scale method and everything, everything I counter, it can fall somewhere in one of those those four categories or five category categories. Very cool. So curious. I hear there's an LLC. Typically someone gets an LLC if anybody doesn't. Now, as far as I know, OK, the average person tells me they get the LLC. So if they get sued, their personal assets are safe. Ideally, so they're really just a lawsuit is against the company, not the individuals. Does it really protect somebody in that in that fashion to that to that magnitude? Oh, wow. That's a great question. That's a really good question. And honestly, something I'm so passionate about because I see so many entrepreneurs doing it wrong. Is is they think I have just made a an LLC. I went to legal zoom. I paid for that LLC. I went to this service. I made it in a corporation. I've got to go now, I want to say like legal zoom and these services are really good. They they they have really good automation. They have some real good templates. There's nothing wrong with them. But people don't read even what legal zoom and these other services give them a lot. Right? I mean, we all knew that you by my side. Right. You don't read the manual. Yeah. It's human nature. This is why, again, I encourage people to work with attorneys. Pay them a little bit extra money. So you have a human who will explain things and walk you through the process. I have seen entrepreneurs where they went through the process with self-help service, paid for the full package. And it's a great package. But then they only filled out the paperwork halfway. Hmm. And so their corporation is only half formed. And what this means is then if they got hauled into court. That corporation might be worthless. They should have just saved the money and just put it into put it into insurance, they'll probably be better off than having that Half-Baked Corporation. And I've seen it with Elliss, too, just the other day, talking to someone who formed an LLC or know sort of purpose, but then never put anything inside the LLC. To then be protected in there and take it out of the realm of personal liability, OK, we need to visualize our businesses as buckets. And unless we put something in the bucket, it's empty. So you've got to fill that bucket if if you're going to be doing business with you with that bucket and you want people to sue that bucket. Otherwise the judge is going to ignore that bucket and in and going to view you as the bucket. So the reason I ask that, as I've seen people say, hey, I went online, it's like two hundred bucks in Ohio register now. Now. Boom, protected. And I'm thinking. I guess that's what it says, but I don't understand how that is all of a sudden this shield of protection against personal liability. So and this may be too much for this one conversation. I mean, maybe it's OK to point out. I don't know. But say that you said treat it like the buckets. So what what do you put in those buckets? Like what goes in there? And maybe I know you can say it's customized to the person. I know it's coming, but like some example. Like an idea. So some of the major thing is I say people leaving out of the bucket would be like, for example, the intellectual property, they are your trademarks, for example. So that person will take the trademark, go register it in their own personal name and pay for it with their own credit card. And, you know, written by some licensed by some copyright licenses or crates of copyrighted works as an individual on their own time or with their own money. And again, you need to get those copyrights. You need to get those those trademarks, your assets. I mean, even if it's a property, you have to, you know, use a deed to transfer that property from your name to your business's name. So you have to take these legal steps and it's not necessarily complicated. A lot of attorneys can help you, but it's you need to take that extra step. So I always view business formation as a two step process of one setting up that business entity and then to filling that business entity. So we're really just making sure all those things we did when we were board and coming up with these ideas are now transferred to the company, essentially. That's exactly right. Somebody that I know sounds and I literally never thought to do it. And just like most people, probably don't. Not at all. Yeah, nobody talks about it. And do they ever teach it at school? No, they don't. I have a business degree. Maybe you guys do, too. And it is never Covid. Yeah, but I. And actually, there's a third step to properly running your business. And that is then you have to maintain the formalities. Mm hmm. So if it's a corporation, you have more formalities. There's a bit more you have to do. You have to have an annual meeting to then annually select the board, who then will have the power to appoint the officers. If you don't do that, in theory, nobody is in charge of your business. And, you know, again, someone could come in and say, well, you don't have a valid business because you're not holding the meetings you need. And I have to say, it varies from state to state in California. It's just the annual meeting of shareholders you need. But other states, you might also have to have their annual board meeting. You need to be doing stuff. You need to be doing it right. You need to be documenting it else's. It's a lot looser on that. That's why for a lot of people and lsy might be a better approach, because there's going to be simpler. You don't have to worry about as much of the paperwork. But it's still a good idea to document your decisions. Document everything. But the bigger mistake that I see even more common, including for people who have losses, is they have that LLC. They think they're doing business as the LSY. But when they write their contracts, they sign is themselves. They don't put the name of their LLC. You have to name your LLC as the signing party in your contract. And then you need to sign it as. As like the manager, as the officer of your business, I see so many people sign as owner. You don't have authority usually to sign anything on behalf of business as an owner. And in fact, now you're saying if something goes wrong with this agreement, sue me as the owner. Mm hmm. The whole point of having a business or something. Yeah, the whole point of having that business was so that you are not liable as an owner. Mm hmm. Oh, wow. That's a little nuance as so important, man. So we have J. So why we have, you know, voro. I think we need to do a part two just on the way. You're talking about the copyrights, the ownership part. That's you're saying things that, as John said, seem like there will be common sense, but honestly, it's not likely. I would seriously I'm on a mission to get this up out there. And this is why I've been trying to do is just educate, because it will not help these things when we're starting our business. I think by nature, entrepreneurs are visionary. Go get them. Grind it out. Let's get this thing rolling. Why would we stop to do some of these things? I'm this and I say that from me being 100 percent guilty, like I'm that guy. And so when we started this Joe Lafeyette text me and I said I was on I was in Florida hanging out and we had talked about it and I said, let's do a start in three weeks. And he goes, OK. And so we did like very little thought went into we're just like I mean, we put thought into it, but we were not waiting. Right. Right. So I get it like why people do that. Sure. It's a balancing act work and have it destroyed. That's it. It's only a balancing act. If everybody really knew and understood the laws and just how many out there, they probably would get paralyzed. So it's good that people are ignorant and not using that ignorance to freeze them like they plow forward. To me, that is an entrepreneur. Someone says, well, I have this idea, I'm going to make it reality. I'm just going to go for it and see what happens. But when you get to the point where you're seeing some success, you're getting traction and you have some money to make an investment. As soon as you can make it a priority to get your business on the right foot, on a more solid foundation, because your problems are only going to magnify as you scale. Listen, we want our audience to stay connected to what Jay has going forward. You can do that several ways. He is on the Jay Z. And I'm not saying that right. That's perfectly. Thank you. OK. On LinkedIn, he's at his Instagram handle is at J. Resolute, that is Jay y r a, z, z, o, UK. And also, you can check out his website w w w dot pro scale legal dot com. As always, stay tuned to what we have going on here on the script there on our various social media platforms, on Facebook, YouTube, a link they were unsure about. That's a leadership podcast. You can follow us on Twitter at unscripted. Leave it on Instagram Scripta leadership. You also can stream this podcast and all of our podcast episodes wherever you get your podcast platform from all the major podcast happening to all of those anywhere, just type in A.A. Leadership Podcast. Also, if you're interested in joining a mastermind group, looking for a place to network, looking for a place to connect. Looking for a place to get bought into and to pour out to others to cash your vision. Check us out there on unscripted Diocletian dot com. As always, we pray that you be the leader that God has called you to be. We are here to build bridges, not walls. Bridges come back. Well, survive next time. God bless you.