You may be very good at the service you provide or the product you make, but if you are running a business using that service or product as a means to make money, then you have to be knowledgeable about business laws and regulations. Failing to stay compliant with the laws and rules could lead to costly legal struggles and ultimately the downfall of a business.
Staying compliant not only helps a business operate safely and legally, but compliance can also safeguard a business from liabilities that may arise. If you are not a lawyer, then knowing the laws and how to make the most informed legal decisions can be difficult. With the help of an attorney, business owners can have invaluable legal counsel that can support daily operations.
Compliance and Your Business
For your business to grow and be successful there are several responsibilities that you must tackle. Every decision you make matters and can have a significant impact on your business. An attorney’s guidance can assist you along the way so you can make the most appropriate determinations that abide by the rules and align with the direction you want your company to go.
Managing your businesses in compliance with California’s corporate laws is critical and can be confusing, but an attorney at Leiva Law Firm can break everything down clearly so you can understand exactly what your obligations are. Additionally, an attorney will stay current with any updates or changes to the laws so that you don’t have to, and so you can avoid issues that may lead to legal implications in the future.
Typically, you are going to have to consider internal and external compliance measures. Internal compliance is the steps you take and the procedures your company follows to stay in line with the law. For example, you may have licenses that must be kept up to date or you have an employee handbook that outlines your anti-discrimination policies at work. External compliance is putting in place standards so that the goods you produce or the services you offer are not in violation of the laws. Here, an example would be putting products through comprehensive safety testing before they are distributed to the public and go up for sale.
It is very common for business startups to have limited funding and resources. Using money wisely and where it can make the biggest impact is important. As a result, avoiding fines and reducing the chances of having to face criminal or civil litigation which can be very expensive is necessary. A big part of maximizing cash flow and staying out of court means knowing the laws and regulations that you are required to follow.
Once you know the applicable regulations and industry best practices, it is essential to write an employee handbook that details your company’s complaint process. Some points to include would be expectations of staff, auditing guidelines, and training policies.
Speak with an Attorney at Leiva Law Firm
Doing the hard work upfront and researching the business laws and regulations that you need to know is critical. Since this task can be pretty time-consuming and complicated, a Los Angeles business start-up attorney at Leiva Law Firm can assist you. For more information and to schedule a free consultation to speak with an attorney, you are welcome to call (818) 519-4465.
