All laws that govern the formation and running of a business are encompassed within business law. As a business lawyer from a firm like Brown Kiely, LLP can explain, these laws must be followed by all businesses in a given locality. In the United States, there are federal and state laws in addition to administrative regulations that must be adhered to. Keep reading for details on how business law is involved in each step of a business’s life cycle.
Start-Up
The start of any business is an essential time for ensuring that the business plan aligns with all laws and regulations. A business attorney can assist businesses in complying with those laws and regulations. Additionally, attorneys may be able to help entrepreneurs determine the best type of business to start. This could include limited liability companies, corporations and other legal entities.
Employee Relations
Each state has its own laws regarding the treatment, hiring and firing of employees. It is important as a business owner to understand the laws governing employee-employer relations in the state you start your business in. Consulting a business lawyer may aid you in navigating these often complex regulations.
Knowing your rights and duties as an employer can be further complicated if you decide to hire immigrants as workers. You want to be on the right side of the law with this to protect your business. A lawyer with experience may be able to assist you in navigating this complex area of the law.
Production and Sale of Goods
Any company producing its own products needs to be aware of the applicable federal and state laws governing the type of product being manufactured. There are laws varying from working conditions in a factory to pricing specifications and distribution protocols. Many moving parts go into developing, manufacturing and selling a product. There are various laws for each business phase and as a business owner, you are responsible for adhering to all of them.
Contract Development
Businesses enter into many contracts in the course of their work. As in all things business-related, there are numerous regulations that must be followed in developing and executing contracts. It is important to either have an understanding of those rules or to hire an attorney with experience in the area. This will also assist you in protecting your business’s interests when negotiating contracts with other entities.
Call a business lawyer today if you are starting a business and need assistance in navigating the laws and regulations associated with that process.