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Knowledge of Business Law Could Save You Time and Money

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It is often said that the best investment a company can make is retaining a lawyer with in-depth knowledge of business law in the state. Most small business owners think that they cannot afford a lawyer and can manage on their own, but this is a false economy in many cases. A small to medium business owner need only be sued once to wipe out any savings they might have made by not having a lawyer on board. That can completely destroy all of a person’s business aspirations.

The most common causes of business litigation involve:

  • Contract Terms
  • Intellectual property
  • Non-compete clauses
  • Overtime pay
  • Sexual harassment
  • Trade secrets
  • Workplace discrimination

According to the website of Arenson Law Group, PC, even when a business is owned and operated by family members, it is still possible for it to get entangled in litigation for non-compliance with federal and state agencies. Many reasons could cause these. For example:

  • Business license requirements
  • Tax issues
  • Environmental transgressions
  • Health code violations
  • Employee benefits

Business law is not always easy to understand, and it is easy to overlook an issue that could significantly impact the way you do business. Even with the best of intentions, a business owner can find himself or herself in trouble through sheer ignorance of the law. A business lawyer would know what needs to be done to keep legal problems to a minimum, saving the business owner a lot of time, money and stress.

Get the services of a good business lawyer in your area to give your business set-up a once over if you don’t want a retainer. This will provide the attorney with the information needed to give advice on how to be compliant with the laws and regulations of the state. One good way to look for attorneys in your area is to check out their Yelp page, where you can get reviews on the attorney from previous clients. A business lawyer is also an invaluable resource when it comes to setting up a business. If you are planning to put up a business, make sure that you have a business lawyer look over your business papers, contracts and agreements before you sign anything.


Legal Disputes and Business Litigation

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Forming and operating a business is not easy, and business owners work hard to ensure that their business is successful. They establish contracts, they build relationships, and they oversee day-to-day operations. Unfortunately, sometimes people take advantage of their positions within or related to a company, and engage in illegal behavior that hurts the company or its owner. In such cases, business litigation might be necessary. According to the website of business lawyers Arenson Law Group, PC, through business litigation, parties that feel wronged in a business, like a business owner, might be able to file a lawsuit against the entity or person who wronged him or her, sometimes securing punitive and compensatory damages. While such process can be long at times, it proves on the long run fundamental for the business.

Causes of Legal Disputes

There can be a lot of different circumstances that drive legal action on behalf of a business or a person with a stake in that business. Disputes can occur about contracts, shareholder relationships, products, and many other aspects of a business. This can be strenuous for business relationships, which can end up becoming quite costly. Some of the more common stimulants of legal action regard:

  • Employment Disputes
  • Inadequate Quality of Goods
  • Failure to Deliver Goods
  • Construction Disputes
  • Failure to Honor Agreements
  • Breach of Contract
  • Trade Secrets Litigation
  • Shareholder Lawsuits
  • Business Assets Disputes

This list may seem exhaustive, but believe it or not, there are dozens of other reasons why someone might take legal action against or within a company, and the more a business owner knows about these legal cases, the better prepared he or she will be. In fact, in many cases, it is the business owner who chooses to take such action.