Legal advice is required b everyone for various purposes, It is not helpful in just avoiding the wrong things but it also helps you in making proper decisions and things that you should do. Let’s have a look at some of the legal advice that one must need in their business and profession
Top 15 Best Legal Advice You Must Know
1. Don’t Break The Law
This is a very basic piece of advice but still gets avoided by most people. People fall in the trap of making quick money through illegal means and end up losing a lot more than they have ever earned. Keep yourself at a distance from these things and stay firm to your decisions.
2. Hire A Lawyer
Before you start doing something, hire a lawyer. This is the first thing one must do to be on the safer side. A lawyer will help you with many things and will give you proper guidance. It is not easy for everyone to understand legal language and this is why you need a lawyer for yourself.
3. Protect Your Intangible Assets
Intangible properties like text, music, logo, code, logos, algorithms are very important to be protected so that no one can use it without your permission. Take steps to protect all these things under Intellectual Property Right and you will be good to go.
4. Get A License
Irrespective of the kind of business you are engaged in, all of it requires a proper license. You can obtain the same either from the state govt or from the union govt. But do not do any business without having a proper license.
5. Make Sure Your Website Complies With Law
In case you operate your business on a website then make sure that your website complies with the law of that country. Even a little negligence in this field might damage you a lot.
6. Maintain Your Accounts
Every business should have proper accounts and make sure that they’re made by following all the important accounting standards of your country. Maintaining proper accounts will help you in many things and it will also help you from any legal remedy.
7. Pay Your Taxes
Many people avoid paying the taxes and adopt some unethical and illegal means to not to pay the same. Do not make such mistakes. Hire a CA and make sure you are paying your taxes on time.
8. Proper Auditing
Every business needs to conduct proper auditing if they fall under the rules of that country. Avoiding this can cause you some very serious legal damages.
9. Use Legal Contracts
Contracts are the best way to do things in a proper legal way. This will immune you from all the legal obligations, and in case the other party does something wrong, you will be unaffected. Just make sure to follow the law of your particular country.
10. Get To Grips With Employment Laws
In case you are employing people in your business then make sure to go through various employment laws of your country. Laws like Labour law, Bonus Act, Payment of Gratuity, Employees Provident Fund, and Miscellaneous Provisions Act needs to be followed to avoid any mishaps.
11. Know What To Do If Someone Steals Your Work
You might have heard about hacking and stealing data. This is why you need to know what to do if something like this happens with you. You can also hire a lawyer to sue them and take back all your rights.
12. If You Are In A Partnership, Define Everyone’s Duties
in case you are starting your business in a partnership, then first of all make sure that it complies with the Partnership Act. Secondly, distribute everyone’s work so that each one of you can work independently towards the same goal. Make sure to mention your assets, profit percentage, etc before getting into a partnership.
13. Arrange Your Paperwork
Every work requires a lot of paperwork and make sure to manage it. Paperwork helps you in tracking your liabilities and assets. It will also help you in paying your taxes. So make sure that you have done all the paperwork in order.
14. Be Careful of What You Write Or Say In Public
People very often fall in the legal obligation of saying or writing something controversial in public. If you are in a public domain, then avoid doing such mistakes and make sure that you are not making any defamatory statement to anyone.
15. Be Aware Before Signing Any Contract
Before you get into a contract with any third party, make sure that they follow all the necessary terms and conditions. It is better to double-check everything to avoid any damages further on.
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