Whether you realize it or not, you deal with legal issues every day in your Maryland business. If you use contracts, have employees on your payroll or pay taxes, you are handling only a few of the many potential legal matters that arise in a business or practice.
If you are busy trying to keep your business successful, you certainly don’t have time to earn a law degree or even take a class on business law. So what can you do if legal questions arise that are beyond your scope of knowledge? Are you comfortable risking the wellbeing of your enterprise by taking advice from a website or e-zine? Undoubtedly, you would feel more secure if you had solid advice you knew you could rely on and advisors you could turn to for counsel in any situation.
Avoiding common conflicts
Some of the most common issues you may face during the life of your business involve contract disputes, employee matters, poor record-keeping and misunderstood expectations. Avoiding these disputes is often far better than dealing with them when they arise. You will save your business time, money and resources if you are proactive about avoiding litigation in the following ways:
- Understand employment law issues like discrimination and harassment, and train your staff to avoid unlawful behavior.
- Provide your employees with your expectations, such as in a handbook.
- Make sure your partners and shareholders have a clear understanding of their rights and duties.
- Create contracts that cover every common contingency.
- Establish an impeccable system of financial record-keeping.
- Protect your intellectual property.
- Seek the least complex or contentious manner of resolving issues.
You may also find you can protect yourself and your business by choosing the most appropriate entity, such as a limited liability corporation instead of a general partnership.
Finding support for the life of your business
Depending on the kind of work you do, you will certainly have legal concerns unique to that industry. Additionally, using advanced levels of technology can mean more complex legal matters.
From the earliest phases of the life of your business, you would be wise to establish a firm relationship with a legal advisor who can guide you along the way. Having an attorney with experience in all areas of business law means you have an advisor to address your concerns and an advocate to help you through any disputes you may face.