When people start their very own business, there are a few things that they are keen to stay on top of, right from day one. These include finances, client retention, and marketing just to name a few. However, if there is one aspect of running a company that often ends up neglected, it is the whole legal side of things. Even though keeping your business on the straight and narrow is incredibly important, some entrepreneurs and small business owners forget to keep checking the little things that can make a really big difference. To ensure you don’t end up on the wrong side of the law, here are some things you should always remember.
Watch Out For Copyrights
One of the worst things that you could do while trading as a business is steal someone’s intellectual property or idea. In order to protect everything that they create, a company will copyright it. For instance, when a company creates a brand new logo, they will ensure that it is fully copyrighted so no one can steal the ideas behind it. So, whenever you create anything like this, it is important that you don’t copy something off one of your competitors. Otherwise, you could receive a letter from their lawyer!
Do Your Taxes On Time
If you anger the tax man, you will also be angering the law, so it is paramount that you file your yearly taxes on time. It’s also necessary to ensure that your business is correctly registered so that it pays any VAT and other fees it is meant to. To keep on top of all your accounting, you might want to outsource your bookkeeping to a highly reliable service. That way, getting all your tax documents and invoices ready to file won’t be such a big rush at the end of the financial year!
Get All The Necessary Permits And Licenses
As a business owner, you will be responsible for getting all the right permits and licenses that you need to trade. If you do not hold all the right ones, you could be breaking certain trade laws. If you aren’t exactly sure what you need, you should visit your local council or business focus group as they will have lots of information to help you figure things out. It’s also important to remember that if your business handles food, there are extra health and safety regulations you need to adhere to. You should expect health inspections at random. If you fail a surprise inspection, you could be closed down immediately!
Find A Registered Agent
All businesses need to have their postal address visible on their website. However, if you work from home, you might not be keen on making your home address public. In this instant, you can register with an agent so that you can place the agent’s address on your site in place of your own.
Compliance Conclusion
If you do end up on the wrong side of the law, it could be the end of your business. Just make sure you remember these common sense legal tips!
I hope you enjoyed this article about ways to keep your business in compliance and on the right side of the law.
Interested in more articles about business law?
Read My Posts:
- Business Litigation: Avoiding Company Lawsuits
- How To Cut Through Legal Red Tape For Your Startup
Published by Michael J Schiemer
Owner of Bootstrap Business
Money - Marketing - Motivation
Digital Marketing | SEO | Social Media
Mike Schiemer Builds Better Business
I hope you enjoyed this article about ways to keep your business in compliance and on the right side of the law.
Interested in more articles about business law?
Read My Posts:
- Business Litigation: Avoiding Company Lawsuits
- How To Cut Through Legal Red Tape For Your Startup
Published by Michael J Schiemer
Owner of Bootstrap Business
Money - Marketing - Motivation
Digital Marketing | SEO | Social Media
Mike Schiemer Builds Better Business
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