Importance of Business Law Knowledge

It is essential to know about business law before starting a business, as it will help you operate your business without the hindrances of ignorance. 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. Below is a list of the most important business laws.

Business structure laws: There are different laws for different business entities. Be certain you learn about the business laws that govern the kind of business entity that you choose to start. The major types of businesses are C, S and closed corporations, limited liability companies, and sole proprietorships.

Zoning Laws: It is essential to know about zoning laws, as certain zones are restricted in certain areas. It deals with the kind or type of business allowed in certain areas, how the land surrounding a business is used, signboards, advertisements, and parking.

Licensing Laws: In order to operate a business certain licenses are required and there are some important business laws you need to know. If a business operates without these licenses, it is 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, and inventions. They are necessary to protect the business.

Employment Laws: These are laws regarding the hiring and firing of employees, their rights, compensation, safety, work place discrimination, child labor laws, overtime pay structure, disability laws and unemployment laws.

Tax Laws: 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. These include 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.

Environmental Laws: The government enforces the environmental laws for the discharge of hazardous waste and the recycling laws pertaining to the business.

Health Department Permits: This is necessary if your business deals with food products. You must get health department permits to operate your business.

Fire Department Permits and Air and Water Pollution Control Permits: There are laws that certain kinds of business entities must get permits from these departments to operate.

Beware Of LawsThe list above contains basic business laws you need to know before starting a company. It is necessary to take precautions that you are not violating any law by operating your business. You must obtain all the necessary permits and licenses from the appropriate authority.

Additional HelpThere are firms that offer their services and products to help make the process of starting and running a business very simple and easy. There is also software to make sure your company remains legitimate.