Hey guys, today in this article, we are going to discuss the top 5 ways to protect your online business. So keep reading.
Protecting your online business is a critical step in ensuring its success. However, business protection is often one of the last steps businesses take for themselves. Online businesses have steadily grown over the past 20 years. But today, there are new and increasingly common threats to their security.
More than 60% of online businesses have experienced a cyber-attack; an estimated 30,000 online businesses experience a cyber-attack every single day. Regaining access to websites that have been taken over in cyber attacks is costly and it can take months to years to ensure the software has not been permanently negatively affected. To avoid these dire circumstances, it’s crucial to know how to protect your online business. With that in mind, five ways to protect your online business.
Table of Contents:
1. Trademark Business Name & Logo
Trademarking your business name and logo is the only way to legally claim them as your own, and it is crucial to do this as soon as possible. Your trademark guarantees that your product or service cannot be used by anyone else for business purposes. It’s the safest way to prevent other businesses from using a logo or name to carry on similar business operations.
Many people don’t know how to trademark a name and logo. However, filing for a trademark is easier than you might think. The federal trademark database allows you to search through trademarks to ensure your desired trademark isn’t taken or similar to another.
There are two types of trademark applications, which you can complete online. The first is the TEAS Standard. This application is more expensive but is required for businesses and products that need a custom description to clarify their business intentions. Per class of products and/or services, the TEAS standard application charges $350. The TEA Plus is less expensive at $250 per class of products or services. This application also has a shorter approval time, usually taking 2 months less than the TEAS standard application. If you’re overwhelmed by the process, consider working with a trademarking service.
2. Become A Legal Entity
When people start online businesses, they typically begin as sole proprietorships. This can work for a while, but if you have any intention of growing your business it’s highly recommended to legalize your business in the eyes of the state and federal authorities. For instance, becoming a limited liability corporation (LLC) will offer a more protected structure for your business. It keeps you separate from the company, ensuring your assets are protected and set aside from your business assets. If there ever were to be a lawsuit against your business, your assets would not be subject to the claims being made. Becoming a legal entity also allows your online business to be taxed like a partnership.
3. Make Sure Your Website Is ADA Compliant
An estimated 22% of adults in America have at least one disability. These disabilities range from visual impairments to severe mobility issues. Navigating websites poses a significant challenge to the disabled community, and although the ADA requires businesses to accommodate customers with disabilities, transitioning these accommodations online has proven difficult.
There are quite a few ways to make your website ADA compliant. For videos, images, and audio files, create alternative tags. You can create text transcripts for videos and audio content that your website provides. Your website should be consistent and have an organized layout, with a clear indication of where to contact you if anyone has complaints about your ADA compliance.
4. Get Business Insurance
People tend to be skeptical about business insurance. It’s another cost added onto a venture that typically is already costing you. But businesses need business insurance. It helps cover the costs associated with damage or liability claims your business may encounter. Claims against your business can be costly both to your reputation and your pocket.
Without the proper business insurance in place, an accident at work or an HR issue can turn into a costly, legal drama. These fees could be financially devastating to both you and your online business. Some states require businesses to have specific types of business insurance so be sure to check with your state’s requirements before choosing a policy.
5. Protect Your Computer Networks
Protecting computer networks should be at the top of your to-do list when you’re an online business owner. You want a reliable, anti-malware and antivirus security package. Look for packages that include website penetration testing and offer malware cleanup programs. These add-ons can help you in the long run as they can help locate any remaining malware in your computer network.
So that’s all from our side. I hope you like this article on ways to protect your online business. If you like this article then please share it with your friends and social media followers such as Facebook, Twitter, etc.