Business Laws: What You Need to Know

There are a myriad of things you must think about when opening any type of business whether it is a small business or a large corporation and one of those is how business law may affect you. Failure to pay attention to business and corporate law can land you in a world of trouble-both legal and financial. The good news is that you do not necessarily need to be a graduate of a fancy business law college or have a business law major to brush up on the basic ideas of small business law and corporate business law.

If you’ve paid attention to the headlines lately, you probably know that employment law for business is one of the number one areas where you can get into trouble if you aren’t up on all the employment laws and regulations. There are numerous laws that govern the employment of both regular employees and contract employees. Just for a broad overview, take a look at all the employment business laws you must meet:

· Civil Rights Act of 1966

· The Equal Pay Act of 1963

· Americans with Disabilities Act

· The Immigration Reform and Control Act of 1986

· The Age Discrimination in Employment Act

· The Equal Employment Opportunity Act

· The Bankruptcy Act

· The Occupational Safety and Health Act

· FMLA, the Family Medical Leave Act

· Employee Polygraph Protection Act Labor Law

· FLSA, the Fair Labor Standards Act

And that’s not even counting the various state employment business laws that might apply to your business! If you aren’t sure of whether you are meeting all the regulations, it’s a good idea to get a checkup for your HR department.

Do you happen to work in the international arena? If you have anything at all to do with international business, then you should be aware of the many ways in which international business law can affect you, your business and your bottom line. At a minimum, you need to make sure that you meet general international business laws, specialized export laws, import laws and any laws of the foreign country in which your business operates.

And what about the business law scene at home? Were you aware that in addition to Federal business law and international business law, you are probably required to meet State business law regulations? Do you know whether you need a business permit or license? Failure to obtain one can result in the shutdown of your business and hefty fines and penalties. This is just one of the ways that state business law, such as California business law, can affect the health of your business if you aren’t careful to stay on top of things.

Finally, what about Internet and online business laws? Were you even aware that there was such a thing? The Internet has exploded so much in the last decade that the government has found it necessary to institute Internet compliance laws. If you operate a website of any kind and do not meet the compliance regulations, that site could be shut down and you could face criminal prosecution and hefty fines.

Of course, no one should ever attempt to navigate the complexities of any type of business law alone and the best course of action is to always seek the qualified professional advice of a business law firm, but hopefully these tips will help you to understand a little bit more about business law requirements.

Summary: When operating a business, regardless of whether it is a small business or a large corporation, you need to be on top of business law compliance. Even if you hire a business law firm, it’s still a good idea to understand what regulations you must meet.

How Can A Business Law Attorney Help You?

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.

The Top Law Firms in the United States

The top law firms in the US are actually not all based in New York or Washington DC, some are in Chicago and Pittsburgh, the main industrial centres, and these firms specialize in helping businesses which have a global market. Some of these are Baker and Mackenzie in Chicago and DLA Piper also in Chicago, along with May Blain in the same city and Kana L Gates in Pittsburgh. These firms are among the law firms with the highest number of attorneys, partners and associates in the US.

Baker and Mackenzie and DLA Piper specialize in commercial and business law with offices in many countries, and Baker and Mackenzie pride themselves on employing people from 60 different nationalities, pointing out that this gives them an edge when it comes to knowing how to deal with the business laws in different countries. They assist businesses which trade in the global marketplace and can advise on the laws in different countries. They also have expertise in the culture of the countries in which they have offices -all 68 of them.

Then there are the law firms which also deal with Pro Bono cases and have a more philanthropic outlook, and the top among these are Latham and Watkins who are based in New York and Skaddon, Arps, Slate, Meagher and Flom also based in New York. The former also has a Diversity Scholarship Program so that more students from different social and ethnic backgrounds get a chance to become lawyers and both take on Pro bono cases. Latham and Watkins won the prestigious American Bar Association Pro Bono Publico Award in 2003, a testimony to their commitment to take non-paying clients as well as the more affluent clients. Latham and Watkins feature regularly in Top 10 lists of American law firms for various reasons, not only because they are the fifth largest employer of attorneys in the US. They have stuck to their roots which were in labor law and tax, before they began their global expansion.

A very well-known law firm, Hogan Lovell’s began in 1904 in the US with Frank J. Hogan who successfully won high-profile politically charged cases soon after he established his firm. On 1st May 2010, Hogan and Hartson merged with Lovell’s of the UK to become one of the top10 global legal services providers. This company is based in Washington DC but has offices all over the world.