4 Common Legal Problems Businesses Face
It seems like as much as you try to do the right thing when it comes to your business, there’s always something lurking around the corner that might trip you up. Even if you’re getting 95% of things correct, that last 5% can cause some headaches — and if they’re legal matters, then they might do more than just make things complicated from a logistical point of view. They could get you into trouble with the law, which can have long-term ramifications for your business, and, potentially, you, too. Let’s make sure that this doesn’t happen. Below, we take a look at four common legal problems that businesses can face.
Misuse of Copyrighted Data
Finding the right image for your advertising or video for your website can be a challenge — you want something that conveys professionalism, is in line with your branding, and all-around gives a positive impression of your business. You finally find the right media, and put it to use. Only there’s a problem — you don’t have permission to use the image, video, or music, because it’s copyrighted. The fines for such a misuse can be substantial. Before using any materials, make sure you have legal permission to use them.
Ah, tax. How much easier life would be if you didn’t need to concern yourself with it. But, of course, you do — it’s something that needs to be taken seriously. Many companies have had to cease existing because they find themselves with insurmountable tax related problems. It’s not only about paying what you think your share of tax is: it’s about staying up to date with any changes that affect your company. For example, certain businesses in the UK will soon need to use Making Tax Digital Software to meet legal requirements. When it comes to tax, it’s never recommended to assume that you’re doing the right thing — you need to ensure that you are.
There’s a lot of merit in taking the time to develop a robust hiring policy. In so doing, you’ll make sure you end up with staff that you like and trust — this makes for a better working environment, but can also prevent the legal problems that unhappy and disgruntled employees can bring. It doesn’t take much for an employee with insider knowledge of how things run in the company to make a lawsuit against a business. You can help keep these issues at bay by, first, investing in your human resources, and trying to foster positive workplace relationships. You’ll also want to be consistent with your employee policies across the board, and take all complaints seriously, no matter how far-fetched they may be.
You’ll need to work with contractors and other businesses in order to grow your business. When you do, make sure you have a contract in place that all parties agree to. Without a contract, you’ll be leaving yourself open to false claims, and also just instances where you’re not getting what you thought you were going to get, which can cause ripple effect legal problems.