The Law and Your Business

October 5, 2013

Business LawsStarting any kind of business is both exciting and scary. It is always a risk. There are hundreds of different issues to consider, and many of the items that you will have to deal with are going to be legal ones. If you are like most small companies, you probably do not have a lot of start-up cash and the fact is that hiring a lawyer can be very expensive.

Regardless of the type of business you want to operate, it is essential that you adhere to the laws. You have to know the laws in your area. Furthermore, you have to understand the laws of your state, country and the world.

These laws might include any or all of the following:

  • Taxes
  • Real estate: buying or renting
  • Leasing equipment
  • Labour laws: hiring, wages, taxes, deductions and firing
  • Contracts writing them and signing them
  • Importing or exporting goods

As a new owner, you have to get the information right. You cannot afford to get advice from your friends or neighbors. If they do not have current information, or they are referring to the laws of another state, you could end up in a whole lot of trouble. A simple mistake and you could even lose your business completely.

If you cannot afford a lawyer, you still have options. The internet is a great place to find legal information. One site, which offers free services, is Worldlawdirect.com. The site provides both international and US law advice and help. Here you can ask questions, find forms and even speak to lawyers.

There are also a number of different sites that provide online help for a reasonable price. LegalZoom.com and LawDepot.com offer various services, which can help any new business get legal aid without spending top dollar. However, when going to these sites, or any others, be certain that you get information, which is appropriate for your state.

With a little bit of initiative, there are other ways that you may be able to get cheap legal help. For example, if your business is close to a law school, you may be able to get assistance from their students.

Another alternative is to find a new law firm. Well-established law firms are probably not going to be willing to negotiate their fees. However, new lawyers may be willing to lower their rates or make deals. Do not be nervous about approaching these places. Hundreds of thousands of companies have stated out the exact same way. There is no shame in having a budget.  Take pride in your business and learn to negotiate.

Legal information and expertise is not an area where you can afford to make mistakes. A badly worded contract or problem with a lease could mean a very quick end to your business dream.

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