(ThyBlackMan.com) As a business owner, you have your eyes and your goals set on being successful. That means being productive and selling more units, as well as turning over a lot of cash. One thing that isn’t on your mind is legal duties, and that’s dangerous. Although it might not be apparent, a business and the judicial system go hand in hand. As a result, it’s your prerogative to do your civic duty, yet this won’t happen if you don’t care.
What will happen is that you will make error after error, one of which will come back to bite you on the ass. If the idea of avoiding
legal mistakes seems like the right path, you should read the following. Below is a list of the most common mistakes and how to avoid them.
Not Using A Lawyer
Now that you understand the legal aspect of the industry, there is only one thing to do: hire an attorney. Not hiring one is without a doubt the biggest fault possible. Why? It’s because the law is varied and complicated and only professionals have the relevant experience. Just because you watch the Good Wife doesn’t make you an expert. It does, however, make you a liability. The idea of omitting an attorney from your labor sheet will sound appealing because they don’t come cheap. But, the next time you’re in a pickle, you will wish there is someone by your side to help. And, there will be plenty of occasions when this prophecy comes true.
Hiring The Wrong Attorney
To a layperson, all lawyers seem the same. After all, they study the law and appear in court. So, what’s the difference? Well, there is a handful of genres of law which are completely separate from one another for a start. Then, there is the fact that the person’s knowledge and experience might not suit your needs. Simply because a criminal defense attorney is a lawyer doesn’t mean they know the first thing about employment law. And, it works both ways. At the end of the day, both have advantages but only in specific situations. Whatever you do, don’t choose one which has no experience whatsoever in the field. It will be a disaster.
Choosing The Wrong Structure
The first step in any business is to pick a format. For example, there is a private company, a public company, a corporation, and a sole proprietorship. On the face if it, all of them might only ring a faint bell in your mind. One might stand out above the rest, while the others have no bearing whatsoever. Regardless of which one appears to be the best option, you need to do your research. Choosing a bad structure is something that new startups do all of the time, and it’s the reason they fail. Just check out the legal side of a sole proprietorship if you are a non-believer. Your format is the foundation on which you intend to grow. If they begin to subside, you will have to knock everything down and start again.
No Terms & Conditions
Any time you visit an online store and make a conversion, you will see a Ts & Cs box that you have to tick. The reason you have to check the box is that it liberates the company from any wrongdoing. As long as the terms are specific, there is nothing a customer can do unless they can prove further illicit activity. It might sound stupid, but there are plenty of firms which don’t bother with any rules of regulations. They simply set up a site and begin trading without so much as a second glance. Any online store that sells products or services needs a thorough safety net, and you are no different. Also, don’t forget to make people check the box before they continue. Otherwise, it will negate the conditions which you hope will keep the company safe.
No Privacy Policy
Back in the day, companies could collect and share customer data without a care in the world. It didn’t matter if they disagreed because they didn’t know it was happening. Nowadays, the public is far more aware of what is going on behind closed doors, which is why a privacy policy is part of the law. You can’t just collect information about people and share it with anyone that you choose. In fact, there are certain details that you can’t collect at all. To show the authorities that you are compliant, you need to come up with a policy. In it, you need to explain your processes such as how you collect the info and what you do with it afterward. Any firm that gets caught out will be subject to a fine or worse.
Health & Safety Violations
It isn’t only customers and clients that you have to worry about because your employees are also a factor. Simply put, they will file a suit if they feel aggrieved, and businesses give them plenty of opportunities. The main one is health and safety. In truth, there is a lot of things that can potentially harm a person’s well-being in the workplace. As the boss, it’s your responsibility to take them away or alert people to their presence. Companies are getting better, but they are still not foolproof. To make sure you don’t end up in court, you need help from the workforce. By appointing a health and safety officer, the representative will do the work for you. All you have to provide is a pay raise and more responsibility. Of course, implementing health and safety regulations goes without saying also.
The final issue that a business must avoid is tax discrepancies. Paying the correct amount of tax isn’t easy, especially when you’re trying to cut down your bill. But, if you get it wrong, you could end up behind bars. Hiring an accountant to follow the cash is an option that could keep you out of prison. At the least, it will save the firm a fortune.
Staff Writer; Barry Ford
