Business Laws That Need To Be Known Before Starting A Business

It is essential to know about business laws before starting a business, as it will help you operate your business without hindrances or any trouble. It is better to seek the expert guidance of an accountant and an attorney to learn about the latest business laws that will affect your business.

Business Laws You Need To Know Before Starting a Business:

Business structure laws: There are different laws for different business entities. So make sure you learn about the business laws that govern the kind of business entity that you choose to start, Corporation, if its a C, S or closed Corporation, or an LLC or LLP, Sole proprietorship etc. These are very important business laws you need to know before starting a business.

Zoning Laws:

It is essential to know about zoning laws, as certain zones are restricted. It deals with the kind or type of business allowed in certain areas, how the land surrounding a business is used, signboards advertisements, parking etc.

Licensing Laws:

In order to operate a business certain licenses are required and these are some important business laws you need to know before starting a business. If a business operates without these licenses, it may be illegal and the business may be dissolved or forced to close.

Trademark and Patent Laws:

These are laws that deal with ownership; intellectual property rights, inventions etc. are necessary to protect the business.

Employment Laws:

These are laws regarding the hiring and firing of employees, their rights, compensation, safety and work place discrimination and child labor laws, overtime pay structure, disability laws and unemployment laws etc.

Tax Laws:

This section deals with filing of tax returns and depends on the kind of business entity and the State the business operates in, sales tax, franchise tax, income tax and other state and federal tax requirements of a business these are very important business laws you need to know before starting a business.

Environmental Laws:

This law is enforced for the discharge of hazardous waste and recycling laws pertaining to the business.

Health Department Permits:
Is necessary if your business deal with food products to get permits to operate your business.

Fire Department Permits, Air and Water Pollution Control Permits: There are certain laws that certain kinds of business entities have to get permits from these departments to operate.

These are just a few basic business laws you need to know before starting a Business. It is necessary to take precaution that you are not violating any law by operating your business and that all the necessary permits and licenses are obtained from the appropriate authority.
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The Importance of Business Law

If you fail to prepare, you prepare to fail.

A business is started not to fail but to succeed. There are a number of books that offers marketing strategies, guides and tutorial. There are even seminars and courses for those who want to engage in business. Still, thousands fail.

Preparing your company nowadays is an easy task. You can easily get marketing ideas on the internet. You can research and gather more information easily. You can attend short courses to improve your skills. You can better and cheaper suppliers on the World Wide Web. You can contact advertisers to promote your product or services.

But there is one thing you can’t read on books neither learn on business courses. And these are the legal services of business attorneys. A number of marketing and sales books can help you build new strategies but only business attorneys can give you legal advice with regards to your company. If you are building up a new business, you don’t want to mess up with the court. Even some of the greatest and the biggest businessmen that failed to seek counsel of business lawyer crashed.

Maybe you have the best talent for a particular company,you may have the capital, you may have the work force and you may have the knowledge – but business laws. Here in Texas, you have to be aware of certain business law. Texas Business law may cover fraud and deceptive practices, contract disputes, refusal of insurance claims, bankruptcy, right of creditor, partnership and corporate disputes. There also specific laws for real estate, oil and gas business and business sales and purchases. In addition, you should familiarize with draft and review of contracts and leases, employment contracts and even insurance policies.

These tasks are not for business persons but rather for business lawyers that have wide experience as well as educational background. You should seek for legal advice with business lawyers. Though you might not need permanent business attorneys, you can always hire one if you ever needed them. You don’t necessarily need an attorney who knows every single law, but rather a marketable business lawyer. This business lawyer must be familiarized with Texas business law, and should know what business you’re into. The business lawyer should not only assist you on the court but also give you legal advice whenever you need one.

Costs of Hiring the Business Law Attorney

Everyone who has already hired a business law attorney will tell you that legal services are not cheap. So, before hiring a lawyer, you should ask yourself how much you are willing to pay for the services. When you are searching for legal services, you should always ask potential attorneys to explain their fees and billing practice fully. Do not hesitate to ask detailed questions and never feel embarrassed. A lawyer’s readiness to discuss the fees is an important indicator of how he or she treats the clients. If you have a basic knowledge about how lawyers generally charge for their services, it may help you to negotiate the best deal when you need to hire one.

A best business attorney may suggest hourly fees, flat fees or even contingency fees. But the exact price of these fees structures is determined by several factors. The cost of a lawyer is influenced by the amount of effort and time required for your case, whether you live in an urban or rural area, by the outcome of the case, by the experience of the lawyer and by the processing costs. All these elements will impact the total cost of a lawyer.

  • The hourly rates are the most common arrangement. On an hourly fee basis, a business law attorney gets paid an agreed-upon hourly sum for the hours that he puts in a client’s case until it is resolved. The hourly rate depends on the lawyer’s experience, operating expenses and the location of the practice. When it comes to your business’ protection, you should keep in mind that it is more effective to hire a lawyer with a lot of experience and expertise.
  • When dealing with the business law matters such as wills and simple bankruptcy filings, most attorneys typically charge a flat fee. However, the flat fee might not include other legal expenses such as the filing fees.
  • You can be charged on a contingency fee basis in certain types of cases. It means that the business law attorney will take any fee from you, but will get a percentage of the settlement money.
  • As for the expenses and court costs, there are no averages and it is hardly possible to give an accurate estimation. You should carefully discuss everything with your business litigation attorney and anticipate any miscellaneous costs so that you can estimate those costs up front and avoid further confusions. Be prepared to check court costs, filing costs, delivery charges etc.

    Regardless of the type of your payment agreement with your attorney, you should get a fee agreement in writing. If a business law attorney is unwilling to offer a fee agreement in writing, do not choose that lawyer.