Business law can be confusing. There are so many legal requirements that it can become all too easy to break a law without realizing simply by not knowing about a certain license or making an accountancy error. On top of this, lawsuits against businesses are becoming increasingly more common. That said, you needn’t have to study a law degree just to cope. Keeping your business legally tight can be simple so long as you take these steps.
Having a solicitor on call can be extremely helpful for guiding you through the legal requirements needed for your business as well as giving you support if you ever are called to court for an error or misjudgment. You can have one lawyer for all areas of your business, or hire specific lawyers where and when you need them. Tax attorney lawyers can be useful if you’ve been fined for a tax error that wasn’t deliberate. Similarly, insurance lawyers can be useful for handling insurance claims made by you or against you. Always shop around to ensure you get the best value for your money. Tax attorney fees can vary depending on the nature of your claim. Some may charge a flat fee rate, others may pay by the hour and others may only pay if you win your claim.
Research licenses and permits
Having all the necessary licenses and permits to do your job is important. This could include a license to operate certain machinery or a license to sell a certain item such as alcohol or food. There are also compulsory insurance schemes to look out for such as employer liability insurance, as well as area permits. Get a solicitor to familiarise you with all these licenses and permits so that you’re fully accredited for the job.
Do a risk assessment
Health and safety and security risks can all be reasons for staff and clients to sue. When setting up your business hire someone to do a risk assessment that can tell you of every possible health and safety and security feature that could keep you legally protected. This could be anything from protective clothing such as gloves to data protection such as disaster recovery software.
Get contracts professionally written
Having professionally written contracts is important not just to protect your staff and clients but protect you. This could prevent someone else stealing company data or using your services without paying for them. Get a solicitor to write up a contract for you so that you ensure every angle is covered.
Protect your business name
Your business name is your identity. The last thing you want is someone stealing your brand and your business with it (or even worse stealing your business brand to damage your reputation). There are many ways to protect your business name – the most fail-safe being to trademark your name. When doing this, ensure you hire a lawyer so that you’re not infringing on someone else’s trademark.
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