Significant Business Laws you must Know

by carla ballatan

Opening a business, whatever type it would be, involves a lot of risks and considerations on the businessperson's part. If you happen to be a businessperson, your mind would be in a whirl thinking about countless of necessary and even those not-so-important things.

Whether you are planning to launch a large company or just testing the grounds and starting on a small business investment, first, it is expected that your mind is a-buzz with various concerns. On top of all these, must be your consideration of the ways the business laws governing your oncoming investment would affect its operation.

You may be in for a lot of trouble in both financial and legal aspects if you fail to pay immediate and proper attention to the business and corporate laws that would be governing your company. As such, you must be aware of the impact and importance of each law upon your business.

However, it is not necessary for you to undergo a professional education in a business law institution just to understand the significance of federal, state and local laws that would influence your business. You only need the basic ideas concerning small business laws, corporate laws and employment rules and regulations

Meanwhile you can also consult with a lawyer who has impressive length of experience in practicing business and corporate laws for him or her to explain to you the important aspect of the laws and statutes that would largely affect your business.

If you are planning on to hire employees then, it is very necessary that you refine your knowledge about the employment laws concerning regular and contract-based employees. Most lawsuits being served to businesspersons commonly concerns employer and employee differences of opinion.

Here are lists of essential employment business laws that you need to be aware of and meet:

- Civil Rights Act of 1966
- The Equal Employment Opportunity Act
- The Equal Pay Act of 1963
- The Immigration Reform and Control Act of 1986
- Americans with Disabilities Act
- The Age Discrimination in Employment Act
- The Bankruptcy Act
- The Occupational Safety and Health Act
- The Fair Labor Standards Act
- Family Medical Leave Act or FMLA
- Employee Polygraph Protection Act Labor Law

This list is among the most significant laws that you should be aware of. Still, a variety of employment business laws may be enforced by the state governing your company that apply to your business operation, which you must be familiar with, too.

If your business also has international aspects in it, then you must also study the various ways wherein international business law may affect you, as businessperson, your operations and your employees.

At the very least, here are the general international business laws you must be conscious of meeting up:

- specialized import and export laws
- strategic business and employment laws in the foreign country where your business is operating

Meanwhile, concerning the business law scenario at your corporation's home base, here are several things you must be aware of:

- Aside from the international business laws, you are required to meet both the Federal and state business regulations
- Check out if you need a license or permit for conducting business since this can largely affect the operation of your business.
About the author
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