It is essential to know about business laws before starting a business, as it will help you operate your business without hindrances or any trouble. It is better to seek the expert guidance of an accountant and an attorney to learn about the latest business laws that will affect your business.
Business Laws You Need To Know Before Starting a Business:
Business structure laws: There are different laws for different business entities. So make sure you learn about the business laws that govern the kind of business entity that you choose to start, Corporation, if its a C, S or closed Corporation, or an LLC or LLP, Sole proprietorship etc. These are very important business laws you need to know before starting a business.
It is essential to know about zoning laws, as certain zones are restricted. It deals with the kind or type of business allowed in certain areas, how the land surrounding a business is used, signboards advertisements, parking etc.
In order to operate a business certain licenses are required and these are some important business laws you need to know before starting a business. If a business operates without these licenses, it may be illegal and the business may be dissolved or forced to close.
Trademark and Patent Laws:
These are laws that deal with ownership; intellectual property rights, inventions etc. are necessary to protect the business.
These are laws regarding the hiring and firing of employees, their rights, compensation, safety and work place discrimination and child labor laws, overtime pay structure, disability laws and unemployment laws etc.
This section deals with filing of tax returns and depends on the kind of business entity and the State the business operates in, sales tax, franchise tax, income tax and other state and federal tax requirements of a business these are very important business laws you need to know before starting a business.
This law is enforced for the discharge of hazardous waste and recycling laws pertaining to the business.
Health Department Permits:
Is necessary if your business deal with food products to get permits to operate your business.
Fire Department Permits, Air and Water Pollution Control Permits: There are certain laws that certain kinds of business entities have to get permits from these departments to operate.
These are just a few basic business laws you need to know before starting a Business. It is necessary to take precaution that you are not violating any law by operating your business and that all the necessary permits and licenses are obtained from the appropriate authority.
There are firms that offer their services and products to help make the process of starting and running a business very simple and easy.