Business Laws All Entrepreneurs Should Know

Before you open your business doors, whether online or in a brick-and-mortar location, you need to know business law. You don’t need to graduate from Harvard Law School, but you do need to familiarize yourself with a smattering of laws and legal facts before your launch.

Local, State, and Federal Business Licensing

Essential Labor and Employment Laws

FLSA: This law sets the federal minimum wage, rules for overtime hours, child labor bans, plus rules for record-keeping.
FEEO: A set of laws that govern worker’s rights, including discrimination prohibitions for gender, color, nationality, race, as well as disabled workers’ protections and mandates equal pay for both genders.
FMLA: Sets rules for the employer in dealing with an employee with a medical condition or an immediate family member undergoing a medical issue. This includes a protected number of weeks the employee can take off for treatment.
OSHA: This law created the Occupational Safety and Health Administration and provides for employee safety at work. It also imbued the agency with its rule-making authority.

Tax Laws at the Federal, State, and Local Levels

Advertising and Marketing Laws

Know the business laws to get your business started the right way. Avoid legal snafus by knowing what rules you must follow.

Originally published at https://chartwestcott.org.

Chart Westcott is Co-Founder and COO at Ikarian Capital, LLC a long/short equity biotech focused investment adviser. Read more at http://chartwestcott.net.