The moment you begin displaying other peoples' works on your website, you get into a variety of legal issues. It is well worth it to get a lawyer - even for just an hour or two - to talk with and to get you a proper contract.
Online Literary Magazine
You will want a signed contract from every person you display the work of. It doesn't have to be complex, but it should be there and signed. That way you have, in writing, the specific legal rights you are being given in order to display the work. This saves you from a LOT of trouble later on if just one of your submittors decides to get really cranky and take you down, once you are successful.
Anything you run must have permission from the author. The contract helps to shield you a bit, in case it turns out the work was actually stolen. You can at least say that the contributor signed to say he/she was the creator of the work.
If there are any names or locations mentioned in a piece of non-fiction, be careful. That person might decide they did not want to be talked about, especially if the information is of a private nature.
Similarly, if any peoples' faces or logos are shown in photography, that can cause trouble as well. Those people would need signed consent forms in order to have their likenesses shown.
Again, I am not a laywer. It is really worth it to pay for one hour of legal time, to make sure you have all bases covered in your efforts. You might think "I don't have enough to take, nobody will sue me." In our modern world, though, people sue just because they can, and whatever you do have, you probably don't want to lose.
Online Literary Magazines
Publishing Your Own Online Literary Magazine
Getting an ISSN
Focusing on a Genre
Choosing a Schedule
Online Design Ideas
Print and PDF Considerations
Printing a Paper Copy
Charging for Access
Running Ads in your Review
Paying your Writers
Types of Submissions to Accept
Enjoy your Creation