Cover-your-business.com and Paily.com

[BlackandGold]

Hi,

I have started importing some stones and pearls from Hongquao in China and have been selling locally for a few months now. My son is designing our web site and we had decided to do what nearly all other web sites do and not ship to international countries because the processor we are going with said 1. AVS checks can't work internationally, and 2. because of credit card fraud.

I have read a lot on this forum, and Jshepherd said something about Paily and cover your business. As we are new at this and do hope to make something out of it, I would really like to know more information.

With paily we can accept any payments from anywhere and we don't have to worry about fraud? How is this? Are they responsible now, not us?

What is the benefit of the legal insurance other than access to legal forms?

Are there any other key things that you think are important when starting out?

What book should I reference?

I appreciate your candid help.

 

[jshepherd]

With paily we can accept any payments from anywhere and we don't have to worry about fraud? How is this? Are they responsible now, not us?

You do not have to worry about fraud if the order goes through Paily because they accept liability. They do the research you cannot, or do not have time for, to ensure that the customer is a valid customer and not using a fraudulent credit card. If they deem the order is fraudulent they will not accept it. If they determine that the order is valid, they accept it and transfer the money into your account. If it turns out that the order was indeed a fraudulent order, Paily is responsible, not the merchant.
This is important, because otherwise the merchant is responsible and the funds are immediately pulled from the merchant account.

AVS checks do not work internationally, but I would not suggest denying all orders on this basis. You have the option with most providers of controlling the AVS features. There are many countries that are very safe with strong buying power. Online you should not have to limit yourself to a single country.

What is the benefit of the legal insurance other than access to legal forms?

The benefits are huge. www.cover-your-business.com has plans from around $16 per month in most states. Anyone who has a small business would find the membership invaluable. I purchased a membership after being involved in a trademark suit several years ago that cost me thousands of dollars. I have used the service at least 6 times since, and have never paid another cent - one of the smartest moves I ever made in this business.

Also, if you are just starting out you will very likely need legal services. With the service you can call anytime to talk to a real lawyer who specializes in exactly what you are looking for. Just getting a trademark will cost you a lot of money and time. But it won't cost you anything more than the US Gov fees with the service. This is why we now trademark nearly everything we do.

Are there any other key things that you think are important when starting out?

The list can go on and on. The book I was referring to is one that I wrote. But it is not scheduled to be published until later in the year. But there are a lot of other books out there that will give you a good understanding of what you are getting ready to do.

 

[purepearls]

I don't use Paily but I do have legal insurance and highly recommend it. Through your legal insurance, you will get legal advice and letters covered in your plan. This is really important in the online industry because of all of the trademark and copyright infringements. You will find that you may need the legal service more often than not.

Other important things:
1. Always copyright and trademark everything that you feel is valuable to your company.
2. Set your business up as a corporation or partnership depending on what you feel is better in your situation.
3. Find someone who is in a comparable industry that you trust that will be willing to be your mentor.

As for books, there are so many. You actually are probably better off just researching what you need to know online when it comes to protecting yourself in business. There is tons of valuable, free information on the internet.