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.

Business Law – Make Sure Your Business is Legally Covered

It is important that if you operate a business you understand what the laws are involved. You need to make sure that you are covered with all business related legal issues that possibly could arise. It can be scary if you do not understand the laws of surrounded business but with a little education you can be up and running in no time. It is important that if you incorporate you fill out the proper forms so that legally you have a business entity. It is important that whatever transactions you have there is proper legal documentation to support them. It is always a good idea to find an attorney they can help you manage legal issues with your business.

Always make sure you check that all documents are legally correct so that you do not get sued. It is important to have some common knowledge of business law before you go into business for yourself. Once you have started your business you want to find an attorney that specializes in business law. This will help you so that you can keep all of your legal affairs in order. Having a lawyer who is knowledgeable about this area of law is important so that you do not have any legal trouble in your business.

Remember before you start your own business you want to find out a little information about business law. When it comes to doing up contracts and other legal issues you need to find an attorney that can help you with your business. It is a good idea to interview 2 to 3 attorneys before making a final decision on which one you want to use. Try to stick with a lawyer who specializes in business law not someone who is a general attorney.

The Ins and Outs of Business Law: Four Specialty Areas

Do you have a head for big deals? Do you like traveling to new, exciting places? Can you keep your cool when those around you are losing theirs? You might just have that rare combination of traits and talents it takes to make a suitable business law attorney.

The Job

If you ask four business lawyers what they do, you could get four different answers. The reason is that there are at least four major areas of practice attorneys may focus on. Sure, some of them do it all, but most concentrate on only one area to better serve their clients’ needs. These clients are generally companies, corporations, banks, or financial institutions. On any given day, they may ask their legal advisers to practice different types of law. Here are the four major ones.

1. Corporate Finance

Large companies and corporations are endlessly raising all forms of debt and equity capital in order to expand and grow their revenue. To do so, they often have to borrow from banks and other financial institutions. It is the job of the business law attorneys who work for them to secure the most attractive commercial loans when financing is needed to fund a new project. To do so, they must negotiate the most favorable terms for their clients before both parties are brought together to seal the deal.

The above is but a single example of what a legal adviser who focuses on corporate law may do. They may serve in countless other capacities where action or advice is needed in a business matter. But whatever the transaction may be, these sought-after attorneys make certain all documents and paperwork are in compliance with state and federal laws.

2. Real Estate

Most folks think buying a home is a major hassle. Well, how about buying a building or an entire city block? Business law attorneys help their clients acquire new property on almost any scale imaginable. They help them purchase, fund, lease, manage, and sell their real estate holdings. These properties may include anything from two-family homes to large retail to office and industrial developments.

In addition to helping with the purchase or sale of real estate, finance lawyers may also help their clients resolve complicated title or environmental issues that must be addressed before a transaction can be completed. They can even work on the other side of the aisle for the lender.

3. Private Equity Funds

When you handle other people’s money, countless rules are used to regulate your conduct. Private equity fund managers might know how to provide working capital for target companies, but they may not be aware of all the legal ramifications of their actions. It is for this reason that finance lawyers are needed whenever portfolio investments are made or new funds are formed. Whether the funds focus on mortgage lending, precious metals, or real estate, experts are needed to deal with the complex business, tax, and regulatory issues that are almost always involved in the formation and management of these funds.

4. Contracts

For a finance lawyer to correctly evaluate a contract and determine whether or not signing it is in the best interests of his client, he must be intimately aware of his client’s business needs. Why? Because as important as contract law may be, it is fairly elementary. In other words, any attorney worth his salt should be able to peruse a contract and determine if it is copacetic. But if you don’t know what your client’s goals are, how can you get him what he wants?

As exciting as the deal-making aspect of the job may be, most business law attorneys spend most of their time working out the fine points and minor details of contracts and other agreements. They must also devote an awful lot of time and energy to learning about the corporate world before they can competently apply their trade. That said, it is a challenging and rewarding career, both financially and intellectually.