Posted on December 6, 2019
Getting started with your own business, even if it is just a buy and sell small business, is not as easy as simply financing for it and selling. A business requires that you invest money in it and make it grow. The money you invest is rarely so small a sum that, if lost, you can easily get over. Rather, it is usually a significantly large amount of money. Because of this, there is also a need for you to protect the security of your business. The way to do it is to hire a business law attorney who will be able to help you get started and assist throughout your business’ life.
In getting started, a business law attorney will be able to help you secure business permits and other legal documents to make your business fully operational without the fear of having to close down because of any possible violation. They will be able to educate you and your business partners about the different laws you need to know and how to oblige by them. A business law attorney will help you deal with your clients, customers and business partners in a secure way. They will help you with the different contracts involved and educate you on the different taxes you need to comply with and other fees. They will also educate you on Uniform Commercial Code, Competition Law, Financial Regulation and everything else you need to know. Moreover, they can help you create an effective and secure contract between you and your employees so that you are guaranteed they will not turn against you and your business. They will help you secure the satisfaction of your employees and yours as well.
In managing your business, a business law attorney will be able to help you secure every transaction by making sure everything goes through the right and legal processes. In cases of customer complaints, a business law attorney will also be able to help you deal with them. They will make sure that everything is well taken care of so that your business does not end up closing down. He/she will also be able to help you update your taxes, permits and contracts to ensure an ongoing business.
If you decide to grow your business, a business law attorney will be able to help you comply with all the legal documents you need. If in case you need to close down your business due to bankruptcy or other reasons, a business law attorney will be able to guide you in preserving your rights and benefits so that you do not end up totally broke.
A lot of people these days who are trying to get started with their own business do not find an attorney necessary until they find their business in a seemingly endless legal problem. But if you ask the most successful businesspeople, they will tell you that the two professionals that actually greatly contribute to the success of any business are its accountant and business law attorney.
Posted on December 5, 2019
Everything that relates to our society is governed by laws and business is no exception. Business law or commercial law is simply a body of law that governs every aspect with regards to conducting a business. This covers but not limited to the commerce of the sea, transportation of goods, guarantees, marine life and natural disasters pertaining to the economic status and business relations, life of the people concerned, employment, intellectual property, insurances and conformities of partnerships. Business may differ for each state or country but there are international codes followed to ensure equal distribution of economic power among nations.
In some countries, civil codes that cover comprehensive statements of their commercial law are being followed. They are usually regulated by the congress with its power to regulate interstate commerce. In the United States, unions are formed to promote a uniform body of commercial law which has resulted in the adoption of the uniform commercial code which is currently being followed by the 50 states and other US territories.
Business law is applicable to both small and big. With its broad coverage, several branches of it are categorized to avoid confusion and to promote formality in the process. One of these branches of law is the advertising law. This law ensures that products are being advertised truthfully and to protect the consumers from false promises. Another notable law is the employment and labor law. This law protects the employees working for a firm. This includes health insurances, discrimination and harassment protection, child labor, household employment, posters, employment termination, wage and hour laws, final paychecks and compensation for work. Business law also has its own set of finance law that protects all scale of business establishments. This helps small firms from the harassment of big companies and to level the ground of competition and promote a healthy market. There is also a law that protects and governs online businesses. This covers the financial and legal liabilities incurred in the areas of privacy, security, taxation and copyright issues. Business law also includes a set of environmental regulations. All businesses are required to follow a set of rules and regulations when affecting the natural environment. Any harm done to the environment is not permitted except in some rare cases. Employee’s healthy and safety is also covered by the law.
Before you start your own business, you should always familiarize yourself with the different laws to avoid legal liabilities and to protect yourself from fraudulent attacks. A strong understanding of the laws will reflect the way you handle your business and will determine your success eventually.
Posted on December 4, 2019
The Business Laws in our nation and our regulations have become so complex they seem to be choking the viability of not only our court system, but also adding layers of laws to companies to the point of suffocation.
The bureaucracy is not only in government, but it has reached all levels of business small, medium and large. Of course, some rules of the game are needed to help our economic machine with standardization.
But, with all the case law, written laws and lawsuits, the laws no longer serve the purpose of allowing business to know in advance what to expect or give them adequate measure to dictate policies within their companies.
One thing that I have noticed is that if you pick up an old business law book prior to 1940, well, there is no much in it. It’s pretty simple and down to earth. When reading through the chapters you’ll find that it all makes sense, it’s all traceable and you can find meaning.
Today things are much different. I would advise any MBA student or individual looking to get into business law to read old business law books and text books. In fact, let me recommend a very good one to you that I have in my own personal library:
“A Text Book of Law and Business” by William H. Spencer; McGraw-Hill Book Company Incorporated; New York, NY; 1938.
If you ever find yourself asking the questions; 1.) Where Did Our Business Laws and Regulations Come From or; 2.) How Have Our Business Laws Changed Over the Years? Then just reading through this work will shed some light on the subject. So, think on it.