Saturday, March 19, 2011

Commercial Litigation for Businesses

My friend is starting up a business with her partners and I’m helping her out with some initial documents. It’s not easy to start as you have to deal with legalities, registrations, financial forecasts, marketing strategies and management approach. All these things should be properly noted and taken care of in order to ensure that business will run smoothly throughout the whole process. Then you have to hire personnel with the right knowledge and enough experience to handle their jobs effectively. I know these things because I’ve been a part of this kind when my former boss ventured into another business while I’m employed in his first business.

He asked me to help him and when he finally started the operations he transferred me to his new telecommunications business. It gave me excitement to venture on new responsibilities far from my field of work but I was able to handle it all. There are things to learn then especially the commercial litigation that governs business and commercial transactions so we’ll be able to apply it to our operations. 

Businessmen should know about rules and regulations concerning business and its management. It’s imperative to know about licensing laws, privacy laws, health laws, safety laws, food and drug laws, labor laws and some others. I’ve learned enough about some of these laws and was able to handle registrations, business permits and other licenses from government agencies. When all these things are taken care of the owners will have to ensure that the business has enough funds to sustain it all for at least 3 years even if they will encounter low business peaks.


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