Most Common Business Legal Issues For Las Vegas Entrepreneurs
A recent report released by the US Public Interest Research Group Education Fund revealed that it is the small entrepreneurs and businesses that shoulder the cost of offshore tax havens used by large corporations like General Electric and Pfizer. This is just one of the difficult challenges faced by entrepreneurs because this cost amounts to an average of $5,128 a year in additional taxes that are put in place to make up for the loss of revenues from multinational tax avoidance.
We at Pintar Albiston strive to develop practical legal and business solutions to challenges such as these. Other business legal issues that we fully understand and can offer professional assistance with include the following:
Compliance with State and Federal Regulations and Laws
No matter what industry you belong to there are documents and records that should be maintained by your office. However, the laws on compliance are constantly changing and adjusting to suit the temperament and demands of the respective industries. Consulting with a business lawyer will protect your business interests. Compliance laws range from human resources to accounting and finance; environmental impact and carbon footprints to health care and state regulations. Non-compliance exposes your business to penalties, fines, and even the mandatory closure of operations until full compliance is achieved. This can result in huge losses in terms of revenues and brand loyalty.
Protecting Personal Assets
Every entrepreneur should be able to separate personal from business assets. It should be done in a way that does not expose the personal assets in any way to the risks of the business. A business lawyer can assist you in drawing the line so that company assets and payables are not purchased or paid for using personal assets or vice versa.
Protecting Business Brand and Name
Today with the convenience and anonymity of the Internet it is possible to ruin business reputation and brand simply by blogging or sending in reviews of feedback. Needless to say, some of the reviews are motivated by revenge, anger, or simply a desire to create a problem regardless of whether the poster had a personal experience with the brand or not.
In a nutshell, cyber bullying is not limited to individuals and can easily be done by competitors or those with nothing better to do than to cause a ruckus.
Another necessity that a business lawyer can help an entrepreneur with is the registration of the brand name and filing of intellectual property, if needed.
Choosing the Right Business Structure
Should you select a sole proprietorship, partnership or a corporation? The business structure is a very important decision because it will dictate your growth and manner of business reporting. The tax structure also differs for each business structure especially in federal and income tax rates.
In addition, if partnership is chosen as the business structure, the most common problem with many new business owners is failure to have a well-written agreement. Many businesses experience conflicts from unclear partnership agreements resulting in problems with equity, obligations of partners, and handling the decision-making process.
Protecting your Business from Legal Problems with Workers
One of the biggest vulnerabilities and assets of a company is its workers. A professional balance should be worked on to keep employees happy and safe at their jobs but aware of the boundaries required to protect the interests of the business. The basics of a human resource division include the employees handbook, forms for non-disclosure, employment contracts, dress codes, office behavior, agreement to the stipulations and policies of the business, and a clear list of employee benefits for all levels within the organization.
The Threat of a Suit
Most legal problems have warning signs that can be detected by a legal professional eye. By having a lawyer as consultant, you can present any issues you may encounter in the daily operations of your business so that it can be addressed immediately. By adopting this strategy, you resolve any issues before it gets out of hand and ends up threatening the very existence of your business.
For all these challenges, you can do your own research and investigation. The main problem with this is by depending on generic forms and advice, you may not be able to customize them to suit your particular business needs. With our help, we can plug any loopholes and fully protect your business interests thereby ensuring sustained operations for many years.