If you own a business or work in a professional business setting, you should always be aware of the laws governing your industry. This is especially true in the business world, where laws can be rather intricate and complex. Here at Lawrina, we have an extensive business practice legal guide covering the laws and regulations that might be relevant to your business, parts of which you may find confusing at times. This confusion is normal, and that is why there are resources to help you in the Lawrina business guides section.
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Business
Updated September 12, 2023
1 min read
Banking Law
Banking law is particularly intricate. It serves the purpose of regulating the operations of banks and other financial institutions. If you need some extra insight into these rules and regulations, business guides on the subject might come in handy. These guides provide much-needed peeks into federal and state banking legislation, as well as compliance measures to ensure that your business is adhering to the law.
Labor Law
As either an employee or a business owner, you should read as much as you can on labor laws. These laws are instrumental in maintaining a healthy and productive workplace by regulating the rights and responsibilities of both employers and their employees. These business guides will help you in the day-to-day operation of your business. Our labor law business guide will enlighten you on labor legislation, principles, and enforcement.
Internet Law
The Internet is perhaps the most revolutionary human invention ever created. It is a mainstay in daily living, including business, and thus requires comprehensive regulation. Internet law governs all forms of Internet usage. Since this field pieces together fragments from several other fields, business guides can help you properly grasp the important concepts.
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Frequently Asked Questions
Which corporate form should I choose for my new business?
The corporate form you should adopt for your new business depends on what exactly your new business is. There are several corporate forms you should explore in business guides based on what you want your business to be. If your business is on the smaller side, you might want to consider establishing a sole proprietorship or a limited liability company (LLC), as these options tend to be the most flexible. Bigger businesses should consider more complex forms, such as incorporation and partnerships.
What kind of business insurance do I need?
There are countless types of business insurance that you can find in our business guides, and your business may require more than one type. A business practice legal guide will inform you that most states require you to have at least one form of insurance, often general liability insurance to cover damages you cause other people. However, you should look at additional types of insurance depending on your type of business. For instance, fire insurance is likely a valuable option for a steel factory.
How do I dissolve my business?
As you would expect, the procedure for dissolving your business differs based on the corporate form you chose, and business guides can help walk you through this process. However, there are some constants across varying types of business entities. You should ensure that you file your final tax returns with the Internal Revenue Service (IRS) and close your IRS business account. Your liabilities to employees and third parties must also be offset or paid off. LLCs, partnerships, and corporations require a dissolution vote by the relevant voting body. You must also file an article of dissolution.