Do you run your own small business? If so, do you know the top legal issues in business that owners face? In this article, we’ll go through a list of some of the most common legal issues that entrepreneurs have to overcome.

When you’re running a small business, it’s easy to let the day-to-day grind of operations take up all your time. But when you own a business, there are legal issues that come up all the time – whether it’s protecting your company with insurance coverage, hiring employees, or just setting the company up in the first place. Even if you have an amazing lawyer on retainer, it can still be hard to track down what you need to know in order to stay on top.

5 Common Legal Issues in Business

1. Choosing a Business Structure

There are many things to consider when starting a small business—hiring employees, dealing with contracts, understanding taxes, and so much more. However, before you even start thinking about these issues, you need to choose the business structure that is best for your situation.

Choosing a business structure that fits your needs will help ensure that your company can grow while maintaining all the necessary legal protections.

2. Buying or Selling a Business

Buying or selling a business is a process that requires diligence and patience. In any major transaction, you open yourself up to legal and financial risks. You need to make sure that you are covering all your bases when buying or selling a company.

3. Intellectual Property

You might think that you don’t need to worry about copyrights and patents when you’re just starting out, but that couldn’t be further from the truth. Whether you’re aiming to protect an existing idea or product or want to get protection from the start, it’s important to talk to an intellectual property attorney.

4. Partnership Disputes

Many business partnerships experience difficulties, and sometimes the differences in opinion that partners have lead to significant conflicts. In some cases, the differences are irreconcilable and the partners may decide to part ways.

When this happens, you need to make sure that you get a fair deal. To do that, you may need to hire an attorney to represent you.

5. Contract Disputes

Business owners create contracts with a lot of different people—their employees, their suppliers, and other businesses, to name a few. The purpose of having a contract is to protect you. Without a sound contract in place, you could be held legally liable for certain damages. You may also be at risk of losses if the other party does not hold up their end of the contract.

Want to learn more about these or other common legal issues in business?

If you are a business owner and you need help navigating the many complicated legal issues that entrepreneurs face, don’t hesitate to get in touch with The Saltiel Law Group today. We are here to help you protect your business so you can focus on growth.