{"id":2384,"date":"2020-06-05T10:22:57","date_gmt":"2020-06-05T15:22:57","guid":{"rendered":"https:\/\/www.sevenworldinc.com\/?p=2384"},"modified":"2020-06-05T10:22:57","modified_gmt":"2020-06-05T15:22:57","slug":"top-20-business-laws","status":"publish","type":"post","link":"https:\/\/sevenworldinc.com\/my-account\/2020\/06\/05\/top-20-business-laws\/","title":{"rendered":"Top 20 Business Laws"},"content":{"rendered":"\n<h2 class=\"wp-block-heading\">Licensing<\/h2>\n\n\n\n<h3 class=\"wp-block-heading\">1. Business licenses<\/h3>\n\n\n\n<p>To legally start a business, you\u2019ll likely need a business license. Start by calling your local city government. See if you need a license, and if you need to know about any zoning rules. For\u00a0<a href=\"https:\/\/www.sba.gov\/content\/what-federal-licenses-and-permits-does-your-business-need\" target=\"_blank\" rel=\"noreferrer noopener\">federal<\/a>\u00a0and\u00a0<a href=\"https:\/\/www.sba.gov\/content\/what-state-licenses-and-permits-does-your-business-need\" target=\"_blank\" rel=\"noreferrer noopener\">state licensing,<\/a>\u00a0check out the\u00a0<a href=\"https:\/\/www.sba.gov\/\" target=\"_blank\" rel=\"noreferrer noopener\">Small Business Administration<\/a>\u00a0website, and follow the links that are applicable to your business.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Employment laws<\/h2>\n\n\n\n<h3 class=\"wp-block-heading\">2.\u00a0<a href=\"http:\/\/www.dol.gov\/elaws\/flsa.htm\" target=\"_blank\" rel=\"noreferrer noopener\">Fair Labor Standards Act<\/a><\/h3>\n\n\n\n<p>This act regulates federal minimum wage, overtime rules, child labor bans, and record keeping requirements. You\u2019ll want to read through it to make sure you comply with the current regulations.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">3.\u00a0<a href=\"http:\/\/www.eeoc.gov\/facts\/qanda.html\" target=\"_blank\" rel=\"noreferrer noopener\">Federal Equal Employment Opportunity laws<\/a><\/h3>\n\n\n\n<p>This set of laws prohibits discrimination based on race, color, religion, sex, or national origin. It also includes equal pay for men and women, and protects people with disabilities.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">4.\u00a0<a href=\"http:\/\/www.dol.gov\/elaws\/fmla.htm\" target=\"_blank\" rel=\"noreferrer noopener\">Family and Medical Leave Act<\/a><\/h3>\n\n\n\n<p>If an employee is dealing with a medical condition, or a family member with a medical condition, there are rules an employer must follow. From time off to compensation, you\u2019ll want to read this guide to understand how this act affects your business.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">5.\u00a0<a href=\"https:\/\/www.osha.gov\/law-regs.html\" target=\"_blank\" rel=\"noreferrer noopener\">Occupational Safety and Health Act<\/a><\/h3>\n\n\n\n<p>This law guarantees employees a safe work environment, free from recognized health hazards.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">6. Workers\u2019 compensation<\/h3>\n\n\n\n<p>Most states require employers to buy an insurance policy that compensates employees if they get hurt or become ill from workplace exposure. To learn more about your responsibility as an owner and what an employee is entitled to, check out the\u00a0<a href=\"http:\/\/www.dol.gov\/dol\/topic\/workcomp\/\" target=\"_blank\" rel=\"noreferrer noopener\">Department of Labor website.<\/a><\/p>\n\n\n\n<h3 class=\"wp-block-heading\">7.\u00a0<a href=\"http:\/\/www.ncsl.org\/research\/labor-and-employment\/at-will-employment-overview.aspx\" target=\"_blank\" rel=\"noreferrer noopener\">At-Will work doctrine<\/a><\/h3>\n\n\n\n<p>In all states except Montana, there is an at-will work law in place. This means employers can fire an employee at any time for any reason, unless it\u2019s an illegal one. Likewise, an employee can leave the job at anytime.See Also:\u00a0<a href=\"https:\/\/articles.bplans.com\/5-common-workplace-lawsuits-avoid\/\" target=\"_blank\" rel=\"noreferrer noopener\">5 Common Workplace Lawsuits and How to Avoid Them<\/a><\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Tax laws<\/h2>\n\n\n\n<h3 class=\"wp-block-heading\">8. Obtain an employer identification number<\/h3>\n\n\n\n<p>To file your business taxes, you\u2019ll need an employer identification number.\u00a0<a href=\"http:\/\/www.irs.gov\/Businesses\/Small-Businesses-&-Self-Employed\/Apply-for-an-Employer-Identification-Number-(EIN)-Online\" target=\"_blank\" rel=\"noreferrer noopener\">Visit the IRS website to get your number,<\/a>\u00a0and\u00a0you\u2019ll get the number immediately after filling out the necessary forms online.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">9. Know the taxes you have to pay<\/h3>\n\n\n\n<p>Whether your business has a staff of one or 100, Uncle Sam says you have to pay certain taxes. Take some time to review the federal tax, social security, Medicare, and federal unemployment tax requirements. The IRS has a breakdown of\u00a0<a href=\"http:\/\/www.irs.gov\/Businesses\/Small-Businesses-&-Self-Employed\/Understanding-Employment-Taxes\" target=\"_blank\" rel=\"noreferrer noopener\">your tax responsibilities<\/a>\u00a0as an owner. You\u2019ll also want to talk with an accountant about these obligations and figure out a budget.<\/p>\n\n\n\n<p>In addition to federal taxes, you\u2019ll likely have to pay state taxes as well.\u00a0<a href=\"http:\/\/www.bizfilings.com\/toolkit\/sbg\/tax-info\/state-taxes\/business-income.aspx\" target=\"_blank\" rel=\"noreferrer noopener\">Use this website to research your state tax requirements.<\/a><\/p>\n\n\n\n<h3 class=\"wp-block-heading\">10. Hiring employees<\/h3>\n\n\n\n<p>When you plan to bring on an employee, it impacts your taxes. The amount of time an employee works for you will make a difference when it comes to taxes, so research\u00a0<a href=\"http:\/\/www.irs.gov\/uac\/Employee-vs.-Independent-Contractor-%E2%80%93-Seven-Tips-for-Business-Owners\" target=\"_blank\" rel=\"noreferrer noopener\">the difference between a W-2 employee and a 1099 employee<\/a>\u00a0before making any hiring decisions.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Advertising and marketing laws<\/h2>\n\n\n\n<h3 class=\"wp-block-heading\">11.\u00a0<a href=\"https:\/\/www.ftc.gov\/tips-advice\/business-center\/guidance\/advertising-faqs-guide-small-business\" target=\"_blank\" rel=\"noreferrer noopener\">Truth in Advertising and Marketing<\/a><\/h3>\n\n\n\n<p>Just as it sounds, this law requires all advertising or\u00a0<a href=\"https:\/\/articles.bplans.com\/top-10-free-online-classes-small-business-marketing\/\" target=\"_blank\" rel=\"noreferrer noopener\">marketing efforts<\/a>\u00a0to be truthful. In addition, if you make any claims during an advertisement, you must have proof to back it up. You can\u2019t ever be misleading or unfair. This rule becomes even more specific when you\u00a0<a href=\"https:\/\/www.ftc.gov\/tips-advice\/business-center\/advertising-and-marketing\/children\" target=\"_blank\" rel=\"noreferrer noopener\">market to children<\/a>\u00a0or use\u00a0<a href=\"https:\/\/www.ftc.gov\/tips-advice\/business-center\/guidance\/ftcs-endorsement-guides-what-people-are-asking#about\" target=\"_blank\" rel=\"noreferrer noopener\">endorsements.<\/a><\/p>\n\n\n\n<h3 class=\"wp-block-heading\">12.\u00a0<a href=\"https:\/\/www.ftc.gov\/tips-advice\/business-center\/guidance\/can-spam-act-compliance-guide-business\" target=\"_blank\" rel=\"noreferrer noopener\">CAN-SPAM Act<\/a><\/h3>\n\n\n\n<p>Did you know there is an email law? It\u2019s true. The CAN-SPAM Act regulates commercial emails. The law requires honesty and bans deceptive subject lines. In addition, you must tell recipients where you\u2019re located and give them an easy way to opt-out of your email messages.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">13.\u00a0<a href=\"https:\/\/www.ftc.gov\/tips-advice\/business-center\/guidance\/business-guide-ftcs-mail-internet-or-telephone-order\" target=\"_blank\" rel=\"noreferrer noopener\">Telemarking Sales Law<\/a><\/h3>\n\n\n\n<p>If you plan to sell products by mail, phone, or online, you\u2019ll need to brush up on the FTC\u2019s telemarketing rule. Under this rule, businesses must ship products within 30 days, provide delivery notices if a product is delayed, and give refunds if an order can\u2019t be filled. You\u2019ll also want to check out the rules surrounding the\u00a0<a href=\"https:\/\/www.ftc.gov\/tips-advice\/business-center\/guidance\/complying-telemarketing-sales-rule\" target=\"_blank\" rel=\"noreferrer noopener\">Do Not Call Registry.<\/a><\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Online business laws<\/h2>\n\n\n\n<h3 class=\"wp-block-heading\">14.\u00a0<a href=\"https:\/\/www.sba.gov\/content\/collecting-sales-tax-over-internet\" target=\"_blank\" rel=\"noreferrer noopener\">Sales Tax Collection<\/a><\/h3>\n\n\n\n<p>Owners of a brick and mortar storefront charge a sales tax that\u2019s required in that specific area, but what if you have an online business? According to the FTC, if your business has a physical presence in a state, such as a store, office, or warehouse, you must collect applicable state and local sales tax. Of course, some states don\u2019t have any sales tax. You\u2019ll want to read the FTC guidelines and check with your state\u2019s revenue agency to make sure you comply with the law.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">15. International sales laws<\/h3>\n\n\n\n<p>With a website, any business can sell their products internationally. It instantly opens your business to a new audience, but that exposure comes with regulations. It poses questions about shipping, various taxes, and customs. The FTC has a\u00a0<a href=\"https:\/\/www.ftc.gov\/tips-advice\/business-center\/guidance\/electronic-commerce-selling-internationally-guide-businesses\" target=\"_blank\" rel=\"noreferrer noopener\">guide<\/a>\u00a0to help you navigate the international waters.<br>See Also:\u00a0<a href=\"https:\/\/articles.bplans.com\/best-free-apps-online-tools-entrepreneurs-obsessive-collectors\/\" target=\"_blank\" rel=\"noreferrer noopener\">The Best Free Apps and Online Tools for Entrepreneurs<\/a><\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Privacy law<\/h2>\n\n\n\n<h3 class=\"wp-block-heading\">16. Data security<\/h3>\n\n\n\n<p>If your business collects sensitive personal information from its customers, you must have a sound security plan in place. Aside from keeping the data under lock and key, you should only collect the information that you need, nothing more. The FTC has a\u00a0<a href=\"https:\/\/www.ftc.gov\/tips-advice\/business-center\/guidance\/protecting-personal-information-guide-business\" target=\"_blank\" rel=\"noreferrer noopener\">guide<\/a>\u00a0to help businesses put a plan in place.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Healthcare laws<\/h2>\n\n\n\n<h3 class=\"wp-block-heading\">17.\u00a0<a href=\"http:\/\/www.hhs.gov\/healthcare\/rights\/\" target=\"_blank\" rel=\"noreferrer noopener\">Affordable Care Act<\/a><\/h3>\n\n\n\n<p>In the last few years, healthcare laws have drastically changed. The new Affordable Care Act impacts every business. Prepare your startup by reading about\u00a0<a href=\"https:\/\/www.sba.gov\/healthcare\" target=\"_blank\" rel=\"noreferrer noopener\">the new healthcare policies.<\/a><\/p>\n\n\n\n<h3 class=\"wp-block-heading\">18.\u00a0<a href=\"https:\/\/www.hhs.gov\/hipaa\/for-individuals\/employers-health-information-workplace\/index.html\" target=\"_blank\" rel=\"noreferrer noopener\">Healthcare privacy<\/a><\/h3>\n\n\n\n<p>If your small business offers healthcare policies that can be accessed online, you\u2019ll need to come up with a security plan for this data as well. If the information is ever breached, there are rules in place to notify those affected.See Also:\u00a0<a href=\"https:\/\/articles.bplans.com\/offering-health-insurance-questions-small-businesses-should-ask\/\" target=\"_blank\" rel=\"noreferrer noopener\">Offering Health Insurance? Questions Small Businesses Should Ask<\/a><\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Intellectual property<\/h2>\n\n\n\n<h3 class=\"wp-block-heading\">19. Protect your intellectual property<\/h3>\n\n\n\n<p>If you develop a new product, you\u2019ll want to protect it with a patent. You can also protect your business name,\u00a0<a href=\"https:\/\/www.bplans.com\/business-branding\/\" target=\"_blank\" rel=\"noreferrer noopener\">symbols, and logos<\/a>\u00a0by applying for a trademark. You can learn more about the process through the\u00a0<a href=\"http:\/\/www.uspto.gov\/\" target=\"_blank\" rel=\"noreferrer noopener\">United States Patent and Trademark Office.<\/a><\/p>\n\n\n\n<p>To protect books, movies, digital work, and musical pieces, you\u2019ll want to copyright your work. The\u00a0<a href=\"http:\/\/www.copyright.gov\/\" target=\"_blank\" rel=\"noreferrer noopener\">United States Copyright Office<\/a>\u00a0can help you file the correct paperwork.See Also:\u00a0<a href=\"https:\/\/articles.bplans.com\/intellectual-property-101\/\" target=\"_blank\" rel=\"noreferrer noopener\">Intellectual Property 101<\/a><\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Finance law<\/h2>\n\n\n\n<h3 class=\"wp-block-heading\">20. Bankruptcy<\/h3>\n\n\n\n<p>Though we hope you never have to go here, in some cases, new businesses hit financial roadblocks. If your business has\u00a0<a href=\"https:\/\/www.bplans.com\/business_calculators\/cash_flow_calculator\" target=\"_blank\" rel=\"noreferrer noopener\">cash flow problems<\/a>\u00a0and is\u00a0<a href=\"https:\/\/articles.bplans.com\/navigating-bankruptcy\/\" target=\"_blank\" rel=\"noreferrer noopener\">exploring the possibility of bankruptcy,<\/a>\u00a0there\u00a0are several laws you\u2019ll want to familiarize yourself with before filing the paperwork. The Small Business Association has the\u00a0<a href=\"https:\/\/www.sba.gov\/content\/finance-law\" target=\"_blank\" rel=\"noreferrer noopener\">resources\u00a0<\/a>you\u2019ll need to review.<\/p>\n\n\n\n<p>Researching business laws can be a tedious task, but it\u2019s always best to be informed. While the list above covers a lot of legal ground, additional laws may pertain to your business. To protect yourself, find an experienced attorney and talk about laws that are specific to your business.<\/p>\n\n\n\n<p><\/p>\n\n\n\n<p>Provided by <a href=\"http:\/\/www.sba.gov\">sba.gov<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Licensing 1. Business licenses To legally start a business, you\u2019ll likely need a business license. Start by calling your local city government. See if you need a license, and if you need to know about any zoning rules. For\u00a0federal\u00a0and\u00a0state licensing,\u00a0check out the\u00a0Small Business Administration\u00a0website, and follow the links that are applicable to your business. Employment [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":2389,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[62],"tags":[],"class_list":["post-2384","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-legal-business-understanding"],"jetpack_featured_media_url":"https:\/\/i0.wp.com\/sevenworldinc.com\/wp-content\/uploads\/2020\/06\/Legal.jpg?fit=2000%2C1000&ssl=1","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/sevenworldinc.com\/my-account\/wp-json\/wp\/v2\/posts\/2384","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/sevenworldinc.com\/my-account\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/sevenworldinc.com\/my-account\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/sevenworldinc.com\/my-account\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/sevenworldinc.com\/my-account\/wp-json\/wp\/v2\/comments?post=2384"}],"version-history":[{"count":0,"href":"https:\/\/sevenworldinc.com\/my-account\/wp-json\/wp\/v2\/posts\/2384\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/sevenworldinc.com\/my-account\/wp-json\/wp\/v2\/media\/2389"}],"wp:attachment":[{"href":"https:\/\/sevenworldinc.com\/my-account\/wp-json\/wp\/v2\/media?parent=2384"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/sevenworldinc.com\/my-account\/wp-json\/wp\/v2\/categories?post=2384"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/sevenworldinc.com\/my-account\/wp-json\/wp\/v2\/tags?post=2384"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}