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Understand the laws
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.
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