Top 3 Legal Pitfalls Small Businesses Encounter
With an industrial spirit, and enviable ambition, many small business owners leave no stone unturned in the marketplace. They see opportunity at every turn, and innovation knocking at each door. The sole focus of many small business owners is how to connect their talent, insight, and products with the millions of marketplace consumers.
However, with so much on their mind, many business owners find themselves standing too far from the proverbial elephant to see the intricate legal details of owning and operating a small business. As it is said, 'The devil is in the details'. Here are the three most notable legal problems small businesses encounter:
1. Stock Contract Usage
In an effort to save time, many small- business owners believe contracts are a "one-size-fits-all" solution, after all if you fill in the blanks properly the terms of agreement apply, right? Absolutely not! This erroneous mindset is what lands many business owners in hot water with employees and brand pirates. While searching the web and downloading stock lease and employee contracts sounds like a cost-effective measure, in the long run, it proves to be the number one detriment to businesses. Many stock contracts include blanket generalizations and such vague language, that the protections afforded through contracts are rendered toothless. Consulting a knowledgeable attorney for contract development is the BEST way to secure the success of a business.
2. Mishandling Employment Law
A peek at news headlines on any given day will show many disputes regarding employment discrimination. For many Americans the class protections afforded by laws like ADA, FMLA, and the EEOC, are essential to their livelihood and family. These laws are among the most important for business owners to be aware of, as any infraction could mean hefty fines and lawsuits. By consulting an experienced legal professional, business owners can avoid the costly hit to finances and reputation due to discrimination and employment disputes.
3. HR Policy as an After-thought
Adding to the discrimination claims and protected classes, is the need for proper Human Resource structure. HR policies provide a framework for company culture, and remedy many complaints and disputes before they reach a courtroom. Our Human Resource planning services are multi-faceted as they ensure employee compliance through concise language, and provide sound policy that allow small businesses to thrive internally and externally.
Posey Law Firm is tenacious and well-poised to provide your small business with the information necessary to avoid these mistakes.
AUTHOR: Jake Posey
Copyright The Posey Law Firm, PC
More information about The Posey Law Firm, PC
Disclaimer: While every effort has been made to ensure the accuracy of this publication, it is not intended to provide legal advice as individual situations will differ and should be discussed with an expert and/or lawyer. For specific technical or legal advice on the information provided and related topics, please contact the author.