When you are starting a business, be it an online or offline venture, it is necessary to ensure that you set up a business according the rules and laws set forth by the government or regulatory body. You should remember that a business owner has many legal obligations when starting and running a business. Licensing, intellectual property laws, workplace safety are some of the regulatory procedures that every business owner/business has to abide. Failing to adhere or fulfilling any one or few norms intentionally or unintentionally, can make you an offender, hence it is imperative that every employer understands the legal implications of the business.
Business Laws has a Wide Perspective
Business laws vary from country to country and state to state. The laws may vary according to the nature of business that you want to run. For example, food safety laws applies to the business that involves in manufacturing selling food items or beverages, whereas import & export laws are applicable to those businesses that involve in importing and exporting goods. Some laws are applicable to all types of business – example labors laws and income tax laws.
Labor laws usually address rules and regulations with relation to employers and employees. Some of the importance terms included in the labor laws are working hours, minimum wage, workplace/worker safety, child labor, compensation, etc.
Employers should fix the working hours for their laborers with a maximum limit of 8 hours in a day. Labor laws have clearly defined the working hours, which should be strictly followed by the employers. An employer can also extend the working hours, but should pay the compensation to the employees for the extra working hours.
This is one area that an employer should be very careful. Almost every workplace has some health hazards, which may be severe in factories, construction business, etc. The labor laws have defined how a business owner should keep his workplace safety by adhering to the guidelines. For example, an employer should provide proper safety gear; be equipped with the required fire extinguishers and other things to ensure the safety of the employees.