what are legal requirements for online art contests

what are the laws for sponsoring online contests?

I want to create a design-a-logo contest open to all ages, kids and adults. The prize will be books of value no greater than $75.00 usd. The top 5-20 entrants will be asked to give my organization copyright of the logo design with rights for unlimited use with a byline concerning the artist and the artist's short biography displayed on several internet sites and/or other media. Issues in question are transfer of copyright to my organization and parental permissions to use graphics, names, and bio of artists.

My questions are: Are there legal documents that must be included in the contest paperwork or can I create my own statements of terms? and Do I need to register the contest with a government authority? and Do I need to report any information to any government authority once the contest is completed?