Every business enterprise may have legal issues come up during its course of operation. Knowing how to handle these legal issues can be difficult, and that's where business law comes in.
What Is Business Law?
Business law is a branch of legal practice that deals with the contracts and restrictions placed on business owners when operating their companies. For a business to operate lawfully, agreements must be made between all its major parties. That means that business owners, employees, and creditors must all create contracts that outline the nature of the relationship between them. They must also state what rights they have when a situation such as a layoff occurs.
Business owners need advice from their legal teams to ensure the smooth running of their companies without much need for intervention from law enforcement agencies.
Without proper legal advice, business owners can even be forced to change their company's structure to ensure compliance. These changes are known as corporate restructuring and can often affect the company's ownership structure, such as restricting a certain owner from operating the company or even closing it down.
You should note that corporations are not the only type of business that must comply with laws; adherence to these laws is especially important for sole proprietors or partnerships that are not separate entities from their owners. This is because anything they do in the company's name is automatically attributed to them.
What Are the Legal Issues That Businesses Face?
Infringement of Intellectual Property Rights
Most businesses are at risk of being accused of infringing one or more intellectual property rights. Some common examples of intellectual property rights include trademarks, patents, copyrights, and designs.
Employment Law
Employers and employees may have employment-related legal issues come up during the course of their relationships, such as employment contracts or wrongful dismissal claims.
Torts
Torts are another example of legal issues which businesses face, particularly when things go wrong. Some examples would be negligence and defamation.
Consumer Protection
Most businesses must comply with consumer protection laws and regulations.
Who Can Provide Advice?
A Lawyer
A lawyer is someone who has a law qualification and has been admitted to the profession as a solicitor or barrister. Lawyers provide advice on civil law matters such as business law, employment law, property law, and estate planning.
A Paralegal
A paralegal is a person who provides legal services under the supervision of a lawyer by assisting with research, preparing documents and communications, or conducting litigation.
The Best Business Lawyer in Utah
At T.R. Spencer Law Office, we pride ourselves on the quality of our legal services. Our lead attorney, who is also a special master, is one of Utah's leading business lawyers.
At T.R. Spencer Law Office, we understand how difficult forming a new business entity can be. We also understand that the decisions you make during your company's inception can potentially affect your business for years to come. For that reason, we are the perfect match for your business needs.
We have the experience, resources, and know-how to turn your vision of your business into reality. We work with you every step of the way to ensure that your company is protected from the very first day it opens its doors. In addition to business law, we handle various legal issues, including estate planning, criminal law, and family law. We represent clients throughout Utah and Idaho. Call us today to discuss how we can meet your needs.