Business Law – Ethic of the Business

Business Law Before you start a business, legally, you need to obtain any business licenses or permits required by law. Doing so will identify your business, protect public health and safety and help you keep track of your finances for tax purposes. The application for an employer identification number (EIN) is available at the IRS website; an EIN is required for corporations, LLCs and partnerships, as well as any sole proprietors who will hire employees. Unless your company’s service or product is regulated by a federal agency, you probably won’t need any federal licenses or permits. However, things like public transportation, investment advice, or producing drugs or firearms, require supervision by a federal agency and you will need special licenses. If, for example, you will become involved with environmental regulations at the federal level, you’ll need to deal with the EPA.

State Business Licensing Laws States license people in certain professions, such as lawyers, doctors, and accountants. Your state might also require a license for certain other businesses such as barbers or real estate agents. You should check with your state to find out if your business requires a state license or permit. Selling certain products including alcohol and lottery tickets might also require a state license.

Your municipality might require a license or permit for your business. Check with your city or town to find out about zoning laws to ensure that you are allowed to conduct business in a particular building like your home or the storefront you rent. If you are involved in retail sales, you will also have to pay state and local sales tax. Depending on your city, this could be done at the state level or both the city and state levels.

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The Best Business Law Books

Whether you are an entrepreneur, an employee or a business major in college, you will encounter various aspects of commercial law in your daily life. Commercial law is one of the most important things that every businessman out there needs to know about, and it constantly changes. Consequently, you are going to read some business law books to keep yourself updated.

Theories can be boring, especially if reading through dozens of business cases is not your idea of a good time. C. E. Bagly and C. E. Dauchy’s The Entrepreneur’s Guide to Business Law may just be the perfect book for you. It is very easy to read, especially for those that do not have any prior knowledge about the topic. This book is good to start with so that you can understand all about business law. For some people, it may be the only book they need.

R. A. Mann and B. S. Roberts’s Smith and Roberson’s Business Law is more appropriate for academic purposes. If you are a college student who wants to gain a strong understanding of this subject, then this is the book for you. The good thing about this book is that it is regularly updated. It’s the perfect book for law students or students who are taking business law classes. Another book that is suitable for college students is Cengage Advantage Books: Business Law: Text and Exercises by R. L. Miller and W. E. Hollowel. The book is clearly written and is very concise; it uses the least complicated ways possible to explain a very complex topic. This will be the right book for those who have been facing difficulties in understanding most of the ideas that are written in thick, complicated textbooks.

Business Law by Robert W. Emerson is a compulsory read for those who are taking college level examination program (CLEP). Despite that, this book is also recommended for those who want to gain more knowledge about the topic. The book is relatively easy to read and it covers most of the important aspects of business law.

Different countries have different laws, and commercial law is not an exception, of course. West’s Business Law: Text and Cases by K. W. Clarkson, R. L. Miller, G.A. Jentz, and F. B. Cross integrates global themes as well as a vast assortment of cases. It is a good book for college students as well as business practitioners, and like any other textbooks, the content of the book is updated regularly.

One of the most popular books on this subject is R. L. Miller and G. A. Jentz’s Business Law Today. Many readers agree that this book provides cases that are relevant to the issues that many businessmen of today face when starting or running their businesses. This book illustrates the topic in the most interesting way possible and it does not have any unnecessary information, avoiding any possible confusion over a certain area of business law. This book is a good reference book even if you are not an academic or a student.

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.