Business Law encompasses many different topics and types of law, including all of the laws that dictate how to form and run a business. But, business law also includes all of the laws involved in starting, buying, managing, selling, or closing a business as well.
While a business owner may be very savvy when it comes to running the day-to-day operations of their establishment, a good business owner knows when to consult with an experienced attorney, like Todd Stramel.
Having an experienced and knowledgeable business attorney can help ensure that all the rules of business are followed, and help avoid problems in the future. Todd Stramel has over 20 years of experience representing his clients along I-70 in Kansas.
Businesses must follow both state and federal laws, and other administrative regulations.
Here are a few areas of business law where an experienced attorney, like Todd Stramel, can assist you.
Starting a Business
A big part of business law revolves around setting up different types of business organizations. The law differs for each type of business entity. These entity types include corporations, partnerships, and limited liability companies.
Laws pertaining to business entities vary by the state in which the business is located. Luckily, Todd Stramel is well-versed in Kansas business law and can assist with each of these types of business entities.
The type of business entity selected will affect the way the business is run, as well as how federal income taxes are filed and paid.
Don’t forget that some types of businesses may also need certain licenses or permits.
All of these things must be addressed before you even begin operating your new business.
Buying a Business
If you instead decide to buy an already existing business, you will have to deal with different aspects of business law.
You might have to deal with real estate law if the business you are purchasing has a physical location that you will be purchasing. You also have to consider property law when purchasing equipment and inventory for some types of businesses.
If the business has employees, you will also be dealing with employment law, or if the business works with contractors instead of employees, contract law will be involved.
Contracts are legally binding documents, so it’s important to get all contracts reviewed by a lawyer before entering into an agreement. If you don’t you might find yourself faced with a breach of contract dispute at some point in the future.
Day-to-Day Business Operations
During the course of regular business operations, you will also be faced with many different aspects of state and federal law. Once again, running your business will likely involve employment and/or contract law. You will have to hire, fire, pay employees, provide benefits, pay taxes, and more. These types of activities are covered under federal and state laws.
You will also have to be familiar with laws pertaining to sales if your business is one that sells products for profit. This may involve being familiar with the Uniform Commercial Code.
Unfortunately, at some point during the course of running your business, you might also have to deal with debt collection law.
With so many variables and aspects related to business law, it’s important to have a knowledgeable and experienced attorney you can turn to. This is where Stramel Law can help. Contact Stramel Law by phone: (785) 460-3222 or by email using our contact form.