Like I always say, your business is your baby. You need to protect it. And that protection starts with your website.

The reason I created CoverYourAssetsOnline.com was to show entrepreneurs how to build a virtual electric fence around their online businesses.

The first document you need to put on your website is a Privacy Policy statement. The moment you start collecting any personal information from your website visitors, even if it’s just an email address, you are required by law to tell them how you will protect that information.

Although not required by law, you’ll also need to post a Terms of Use statement (a.k.a., Terms and Conditions, Website Terms, Legal Notices–the nomenclature isn’t as important as what the statement says) on your website; it’s one of the main links in the virtual electric fence we’re building around your site.

A Terms of Use statement lets visitors to your site know what the “rules of engagement” are, and what happens when people don’t play by the rules.

Think of your website as your playground. Your playground, your rules. You want to have these rules in place to reduce your risk of liability… and to prevent scallawags from stealing your stuff!

At the very least you want to include a disclaimer of liability, meaning you will not be liable for the use or misuse of the content you provide, as well as rules for how the website’s content (i.e., Intellectual Property) may be “used.” In other words, you want to let visitors know what’s allowed when it comes to reading, sharing, downloading, and otherwise using your content.

The complexity of your Terms of Use statement will depend on the complexity of how you’re conducting business online. You want to be sure you’re in compliance with state and federal legislation governing your particular type of business as well as consumer protection laws. You’re encouraged to seek the advice of an attorney in your jurisdiction who is experienced with Internet law… not all attorneys are, so make sure you find one that is.