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Business Law 101

Business Law, also known as Corporate Law is a pretty broad area. It coves many topics, some of which we are breaking down here. These laws determine everything from how to start a business, to managing, buying, or selling one. If you are a business owner, you are definitely going to need the services of a savvy business attorney.

Time To Get Organized

To start, there are many different ways to organized a business. There are corporations, limited liability corps, and partnerships. Once you know the kind of business you are going to start, there will be a lot of paperwork to do. The kind of business you file as will determine how you pay your taxes. So there are not only federal laws to follow, but state as well. You are going to need licenses to operate.
Other things to look out for when starting a business are going to be trademarks and patents. You can not use the same name as someone else. Business names actually qualify as property. And then of course, there are all the claims that you make. The consumer protection law dictates what claims you can make about your business.

That’s A Lot Of Business

So what if you want to buy a business? Now there are other things to consider. Let’s start with real estate. Are you buying the business itself or the physical building as well? When you buy the business, do you also own it’s equipment? Do the employees of that business now work for you? Can you start hiring people and ordering supplies for your business?
As you can see, there is a lot that goes into business law, especially in Oklahoma. Heskett & Heskett, Attorneys at Law are here to help you navigate the corporate world. Call us today to schedule a consultation for your business.
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