Sunday, February 20, 2011

Legal Advice on Commercial Laws

Starting and running a business takes a lot of financial, management and marketing expertise. You have to deal with all these to effectively build and maintain a good operational business. When I resigned from my 16-year stable job I plan on starting up a small business but it didn’t materialized because my online works took all my time and attention. I’m actually waiting for the husband to resign from his job to take care of the business. He did resigned but we decided that he concentrate on going back to school for a better job opportunity in the future. Our kids will be in college in few years from now and as early as now we’re planning for it. The business would have to wait until he gets settled in school and be adjusted. Soon he’ll start our business planning and hope to manage it soon.

There’s a lot to learn and as of now we’re doing first the feasibility studies so when we finally have the time to start we’ll know the proper approach and strategies. We should also be aware of the commercial law that governs business and commercial transactions so we will know how we should conduct it the right way. Entrepreneurs should know about regulatory schemes involving businesses and in dealing with employees and customers like safety laws, health laws, privacy laws, food and drug laws and a lot more. We keep in mind all these things including registrations and getting business permits. Generally we should keep in mind to save enough funds not just for the operation of the business itself but for the times that the business would encounter low peak season.

And in all businesses I know of be it small or big we should have a legal adviser to help us in practical and legal issues of commercial nature. One that can give us advices and services on the many facets business like contracts and agreements, share sale and purchase agreements, licensing, franchise & distribution agreements, company secretarial matters, specialist taxation advice and more. They should meet all requirements needed to facilitate commercial needs.


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