Business owners and jugglers have a lot in common. The difference lies in what they are ‘juggling.’ Instead of brightly-colored rubber balls, entrepreneurs keep their eyes on daily operations, agreements and contracts, research and confidential company information, and employee-related concerns. As you might expect, everyday business law issues apply to everyday business operations. We will look at four of those broad issues in this article.
One of the first decisions a new business owner makes is what type of business he or she will form. The basic business entities available in Alabama include:
- Sole proprietorships,
- For-Profit Corporations,
- Non-Profit Corporations,
- Limited Liability Companies,
- Limited Partnerships,
- Registered Limited Liability Partnerships, and
- Limited Liability Limited Partnerships.
Business owners may consider the following factors when choosing a business entity:
- Liability, and
- Administrative Costs.
An Alabama business organizes under the laws of the State of Alabama, including Section 10A, Alabama Business and Nonprofit Entities Code.
Making and Signing Contracts
Companies typically memorialize their business agreements with written contracts. In an average day, contracts may impact a business owner’s relationships with:
- Landlords or renters, and
It’s essential to make sure your contracts are legally enforceable and that you do not enter into any contracts that have unintended, dire consequences. Title 8, Code of Alabama, Chapter 1, includes laws and regulations regarding contracts.
Protecting Confidential Information
Companies typically create and maintain proprietary information like:
- Client lists;
- Trademarks, patents, and copyrights; and
- Sales, marketing, and promotional materials.
Inappropriate or unauthorized use of this information could harm a company’s competitive edge. Fortunately, state and federal laws may help business owners protect this information.
Dealing with Employees
Many federal and state laws apply to the employer-employee relationship. Business owners may run afoul of such laws unintentionally, but the consequences still apply. Employment contracts, hiring letters, employee handbooks, and non-compete agreements are standard documents used in the workplace. It’s crucial to stay abreast of changes in the law by discussing employee matters with an attorney.
Everyday Business Law Issues Need Attention
A myriad of business laws affects your company’s daily operations. Learn more about everyday business law issues before they become a problem.
Attorney Bruce Adams helps clients just like you with their legal needs. For a free consultation with an experienced Alabama attorney, contact us at 256-237-3339. Located in Anniston, we serve clients in Calhoun, Cleburne, Etowah, and St. Clair Counties.