How to Draft Business Contracts That Won't Backfire – Featuring Matthew Fornaro

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Wisdom Journey

Wisdom

92 episodes

5 days ago

Follow my unfiltered, real-time journey as I navigate the world of online income. No fake success stories or get-rich-quick schemes – just honest documentation of wins, losses, and everything in between. Each episode captures my weekly experiments with different online business models: freelancing, digital products, affiliate marketing, and more. I share exact numbers, strategies that worked (and failed), and the brutal reality of building income Want to be a guest on Wisdom Journey? Send Wisdom Okonkwo a message on PodMatch, here: https://www.podmatch.com/hostdetailpreview/wisdom

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How to Draft Business Contracts That Won't Backfire – Featuring Matthew Fornaro | Ep 85

Wisdom Journey

23 minutes 46 seconds

1 month ago

How to Draft Business Contracts That Won't Backfire – Featuring Matthew Fornaro | Ep 85

Hey friends, it’s Wisdom here! In today’s episode of Wisdom Journey, I sat down with Matthew Fornaro, a business law pro, to unpack the legal side of entrepreneurship—the part so many of us ignore until it’s a problem. We talked about the biggest legal mistakes new business owners make, why you should “get legal” before you even launch, what makes a good contract, and how crucial intellectual property is (especially for us creators). Matthew shared real-world stories—wins and cautionary tales—and gave practical steps for protecting yourself and your business from day one. My hope? After listening, you’ll feel empowered to take those legal steps now, not later, so your business can grow on a solid foundation. Legal stuff might not be flashy, but trust me, it’s how you keep your dreams safe. Thanks for tuning in!

Connect with Matthew FornaroWebsite:https://fornarolegal.com/

Twitter:https://x.com/FornaroLegal

LinkedIn:https://www.linkedin.com/in/matthewfornaro/

I’m building an online business in public — sharing every win, setback, and “I can’t believe that happened” moment along the way. If you’ve ever wondered what it really looks like to start from scratch, come along for the ride. Join the journey at https://wisdom.beehiiv.com/Chapters

00:00 Introduction and Guest Welcome

00:25 Meet Matthew Fornaro: Business Law Attorney & Mentor

01:13 Common Legal Mistakes Entrepreneurs Make

01:51 Essential Legal Documents for New Businesses

02:51 When to Get Legal: Timing for Entrepreneurs

03:10 What Makes a Good Contract

03:57 Contracts and Dispute Resolution

04:26 Podcast Guest Release Contracts

05:07 Importance of Intellectual Property Protection

05:56 What Is Intellectual Property?

06:25 Trademarking: US vs. International

07:44 Red Flags in Contracts

09:06 Reducing Lawsuit Risks as a Business Owner

09:39 DIY vs. Consulting a Lawyer

11:14 Costly Legal Oversight Example

12:28 Evolving Legal Structure as You Scale

13:45 Role of Attorneys and Accountants Together

15:38 AI Tools in Legal and Business Settings

17:16 The Value of Due Diligence Before Signing

18:36 Budgeting for Legal Assistance

19:24 Success Story: Legal Diligence Pays Off

21:28 Key Legal Advice for Online Content Creators

22:38 Connect with Matthew Fornaro

23:18 Closing Remarks and Resources