4 ways to legally protect your new business


4 ways to legally protect your new business

John Smith
| February 20, 2020 Last Updated 2020-03-17T15:50:05Z

As a new business owner, you need to be wary of the common pitfalls that startups can fall into. It can be a major struggle for business’ in their early days to get up and running with a long term future of success. In particular, legal problems tend to be a frequent reason why small businesses become unsuccessful. Legal cases can practically put you out of business and completely detriment your reputation.

Considering this, it’s important that you’re able to legally protect yourself and your business as a new startup. Here are 4 ways you can help to do this.

Ensure online protection

Without an online presence, you can be practically non-existent in today’s society. Most users tend to look for services or products that they need online. This means you should have a responsive website that’s easy to use on all devices.

Having a presence online will always make you vulnerable to several laws that are in place to protect users that browse the internet. This is why it’s important that you protect yourself online from a legal perspective. Examples of these could be creating a privacy policy, providing terms and conditions, displaying disclaimers etc. on your website.

Contracts for employees

Contracts need to be created for any people that you’re looking to employ for your business. This contract will include sufficient terms and conditions that the employees need to follow whilst under your employment. It will also include elements such as working hours, salary terms, duties etc.

Contracts provide written evidence and proof of what your employees should be adhering to. If there was a case when you’ve needed to fire employees or discipline them, your contract will be proof of why you’ve had to do it. This can be used if you’re having to deal with a legal case where dispute resolutions solicitors Manchester based have to be used.

Keeping timesheets

If you work in a client business, similar to how you create contracts for employees you’ll need to do the same for clients that you work with. The contract will provide guidelines for the terms of the contract and how it will work - this will include how payment structures will work. This is crucial to be legally protected to make sure that you’re given the money that you’re owed. You’ll need all the money you can get early doors with your business.

Partnership Agreement

It’s common for businesses to begin through a partnership with another party. This makes it far easier to run the business and build capital, as it will be coming from 2 entities. If this is the case with your business, be sure to set up a partnership agreement. This provides legal protection on how the business will be run, each partner's roles in the business and how profit will be shared between both.

Further down the line changes can occur with partnership and disagreements can be made. This is why having a mediation solicitors for such matters is important as they’ll be able to support and advise you during legal proceedings where you have a dispute with your partner.

Final Thoughts

There we have it, 4 things to consider to ensure that your business is protected from a legal point of view. However, be aware that this isn’t an extensive list and there are several aspects of your business that you need to consider. Some businesses are unique and may require specific legal requirements. If so, be sure to look up on these matters.
Comment Closed
  • 4 ways to legally protect your new business

Trending Now