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How to Avoid Legal Landmines So Your SME Survives

 Photo Credit: Rawpixel

Photo Credit: Rawpixel

There’s nothing more liberating than starting up your own small business. In an era where the corporate world expects more and more of its workers and offers less and less in return, suppressing their wages while helping to drive up the cost of living, it seems like the only sane choice and the most effective way to take control of your career and your livelihood. However, though the path of the small business owner may be rich with opportunity, it’s also strewn with potential pitfalls. There are legions of competitors who will take your customers from you and see you fade into insolvency without thinking twice. There are customers who would like nothing more than to smear your reputation with unflattering remarks about you on social media or scathing online reviews (even if you don’t deserve them). Moreover, there are a plethora of legal issues which could spell doom for your nascent business.

 Photo Credit: Dmitrij Paskevic

Photo Credit: Dmitrij Paskevic

If you’re to navigate these legal landmines it’s important that you have legal counsel from a firm with years of experience in business law services. It’s also important that you familiarize yourself with the potential legal pitfalls so that you can save yourself a great deal of cost and preempt anything that could damage the all-important reputation of your business.  

Your contracts

Your employee contracts need to be absolutely bulletproof in order to protect both you and them from unpleasantness and litigation should your working relationship sour. The same goes for contracts between your business and suppliers, clients or subcontractors. A legal expert will be able to help you draft contracts that protect your interests while also ensuring that you are compliant with federal and state HR regulations. That brings us to...

Regulatory changes


The business and legal landscapes are ever changing as laws adapt to suit changing business practices and vice versa. In order to protect your business from disruption and expense when it comes to regulatory changes, it’s essential that you invest in your HR department. They are your first line of defense in ensuring that your HR practices are compliant with ever-changing legislation. If the scope of your operation prohibits this, you may find that outsourcing your HR function is a cost-effective solution that affords you protection and peace of mind. 

 Photo Credit: Giammarco Boscaro

Photo Credit: Giammarco Boscaro

IP issues

Your ideas and your unique products and services are what sets you apart from your competitors. In an increasingly competitive and cutthroat market, your intellectual property is your unique selling point. But if you think that your competitors won’t resort to underhanded means to steal your ideas and take credit for them, think again. Moreover, proving IP theft can be extremely difficult without the right legal counsel. 

By protecting your intellectual property legally and applying for patents, trademarks, and other protections where necessary you can prevent competing businesses from stealing and taking credit for the ideas that could represent a new era of prosperity for your business.

When you know the specific legal challenges that your business faces, the right help can empower you to protect yourself from them. 

 

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