The Business Laws You Need to Know About Before You Start Your Business

The Business Laws You Need to Know About Before You Start Your Business

When you start a business, there’s a lot to do. You have to come up with a business name, you have to design a logo and find a logo maker to create it, you have to stock up on products, and you have to start marketing. There are also multiple legal requirements you have to meet, like registering your business name, obtaining your business license, getting the necessary tax ID numbers, etc. It’s a lot to remember, and it can be difficult to keep everything straight.

On top of all that, though, there’s still more you have to remember and learn to operate legally and legitimately. For example, there are several business laws that you might not know about if you’ve never run a business before (or even if you have). While you may not be able to hire a lawyer right away to help guide you through the laws and regulations you need to follow, guides like this one can give you an overview of some of the laws that you need to be aware of when starting your own business, (although they should never replace professional, legal counsel).

The Equal Employment Opportunity Laws

You are likely at least somewhat familiar with the federal equal employment opportunity laws that are in place. Such laws make it illegal to discriminate against a job candidate because of race, color, religion, or gender, cover issues like equal pay, and protects those with disabilities as well. While you may not need to understand this law when you’re first getting started, once you go to hire your first employee, you’ll need to understand its extent and ensure you uphold the laws in place.

The Occupational Safety and Health Act

This is another law that you’re likely already familiar with to a degree. Also known as OSHA, this act explains requirements for a work environment that is considered safe. Official signs with what constitutes a safe working environment must be posted around the workplace so that employees know their rights and may report any violations if necessary, making it important to be aware of the requirements set forth by the act. It’s worth adhering to these laws from the moment you open your office and hire employees.

Advertising and Marketing Laws

When it comes to advertising and marketing, you have the opportunity to be creative and put out the information about your company and products that you see fit—to a certain extent, that is. There are certain laws in place that require that you be truthful in your advertising and back up the claims that you make. If you are ever misleading in your advertising and marketing, customers could have grounds to come after you—or worse, you could be subject to fines and penalties imposed by governing bodies. While you will have the creative license you need to advertise and market your company and products, you’ll need to be sure you’re aware of the lines and boundaries that are set before you get started so that you can avoid crossing them unknowingly.

Privacy and Data Security Laws

Many businesses will collect sensitive or personal data such as credit card numbers, social security numbers, and so on. In such cases, it is required that they put certain security measures in place and store that information in a certain way to protect it and better ensure its security. If your company is one that accepts sensitive or personal data and stores that information, you’ll need to know what the laws are surrounding the way you handle that data so that you can avoid lawsuits and penalties from customers and governing bodies.

Insurance Laws

In many cases, insurance is more of a good idea than a requirement, and there are many different types of insurances out there that you can secure for your business. In certain cases, though, there are laws that require that you obtain a specific type of insurance to protect both your business and employees. For example, once you hire your first employee, you will be required by law to have workers compensation insurance.

Final Thoughts

Knowing which laws and regulations are in place and apply to your business is extremely important when you’re just starting out. While you may not be familiar with all of the laws and regulations, guides like these can help you understand what matters you need to look into further and pay close attention to when starting up. But please note that posts and guides cannot replace professional legal counsel, and you should always consult professional, legal counsel when making legal decisions or if you are ever unsure about the law or legal matter.

Which laws and regulations did you know already know about?

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