Business Legal Advisory

Business Legal Advisory

Legal issues in business encompass risks related to compliance, contracts, employment, and intellectual property. Proactively addressing these areas prevents costly lawsuits, regulatory fines, and reputational damageKey legal risks and mitigation strategies include:1. Business Structure & Liability

• The Issue: Operating as a sole proprietor puts your personal assets at risk.

• The Issue: Competitors copying your branding, inventions, or proprietary works.
• The Solution: Secure your United States Patent and Trademark Office (USPTO) trademarks and Copyright Office copyrights. Utilize Non-Disclosure Agreements (NDAs) for employees and contractors.

• The Issue: Misclassifying workers, wage disputes, or workplace discrimination claims.
• The Solution: Adhere to standards set by the U.S. Department of Labor regarding the Fair Labor Standards Act (FLSA). Use Society for Human Resource Management resources to draft compliant employee handbooks.

• The Issue: Ambiguous terms, handshake agreements, or breaches of contract with vendors and clients.
• The Solution: Rely on written contracts. Consult the American Bar Association for finding commercial law experts to review agreements.

• The Issue: Missing filing deadlines or miscalculating corporate, payroll, and sales taxes.
• The Solution: Consult the Internal Revenue Service business center for up-to-date filing requirements and deadlines