5 Laws Your Company Needs
If you are running a business and would like to carry on its success you have to pay attention to more than just business plans and marketing. Having a solid legal foundation will allow you to maintain that success without risking the potential of legal issues. Laws are volatile and tend to keep evolving, meaning your business has to evolve with them.
There is a large number of laws your company must follow but we have listed the five main ones that can affect your business long-term. We strongly advise you to ensure your legal team is fully aware of these laws and your business never fails to abide by them.
Employment and Labour Laws
Employment and labour laws play a major part in every business considering your company depends on employees to keep operating. Always ensure all employee rights are fulfilled and that your employees are made aware that the company protects them against discrimination, harassment and wrongful termination among other unlawful practices. This will protect you in the long term from unnecessary legal issues, costs and inconvenience, let alone risking the reputation of your company in the industry.
As part of the employment process you want to be fully aware of your rights to hire foreigners. These laws are constantly changing, knowing their developments will help you avoid mistakes and misunderstandings. More importantly by being savvy about immigration laws you can find ways to hire specialists and talent your company needs, regardless of their nationality.
Workplace Safety and Health Laws
These laws go hand-in-hand with employee rights. Ensure you are aware of and follow all the laws that protect employees from work environment hazards. In the unfortunate case that you face a work hazard – accident in the workplace, fire etc – being covered by the law will allow you a speedy recovery from the hiccup.
The necessity of accurately following privacy laws is on the rise. These laws ensure that you are clean in the eyes of the government but also your customers’. The simplest things such as texting messages or sending emails must follow these laws. Not paying attention to the finest print of privacy laws can get you in long-term legal problems which will stall the expansion of your business.
Marketing and Advertising Laws
These laws are directed at your marketing department or agency. Marketing and advertising laws vary from industry to industry and your CMO should be fully aware of them and ensure that all your marketing material complies. Failing to do so can set back your marketing efforts exponentially and even lead to large fines.
Failing to stay up to date with every one of the above laws and adjusting your business accordingly, increases your risk of bumping into legal issues. If you are uncertain of your knowledge on any of these laws, don’t hesitate to speak with Elia & Elia L.L.C. for legal advice.