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.
About the author:
Matt Bacak became "#1 Best Selling Author" in just a few short
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