Business law, also known as commercial law, is the body of law that governs commercial entities and their commercial operations. For example, a person may start a shoe company today. In this case, business law would affect how the business owner would want to organize their company, what legal form it would take, and how it would be registered to do business in Florida.
Business law encompasses regulations for managing the workplace, managing employees, and doing business overseas as well as on-site in southern Florida. Doing business in southern Florida is going to be much like doing business anywhere else in Florida. Florida business laws, as well as federal laws, are going to apply to the business.
However, a business in Florida would also want to register its name with the county clerk in the county in which it is located. If it is a corporation, it would also register with the Florida Secretary of State as it would if it is a partnership of any kind, general or limited liability.
Also, it is important to investigate local South Florida zoning regulations when a site is chosen for a person’s business. A person would want to contact the local county or municipal business license office in the southern Florida location where they plan to site their business. A person may not be allowed to conduct business out of their home or engage in industrial activity in a district zoned exclusively for retail.
Business law applies to almost every aspect of a business operation. The laws vary, of course, based on several factors, including:
- The type of business, such as private and public and/or for-profit and non-profit;
- The structure of the business, such as a corporation, general partnership, or limited liability company, for example;
- The location of the business as it is affected by federal, state, county, and municipal laws.
One specific example of a business law is the federal Internal Revenue Code (IRC). This code affects business taxation just as it affects personal taxes. It covers everything from how the business withholds taxes from the paychecks of its employees to how the business will file its own federal income tax returns.
What Different Types of Business Law Are There?
As previously discussed, there are many different types of business laws that govern almost every aspect of a business. For example, a subcategory of business law, called employment law, would govern how the business:
- Assesses applicants and hires and fires employees;
- Makes out paychecks for employees;
- Arranges employee work schedules.
A business owner who is just starting a business needs to register and set up their new enterprise. Business laws, including statutes that govern the formation and structure of a business, state tax laws, and the federal IRC, all apply. A local Florida attorney would be able to offer invaluable advice.
Additionally, if the business owner registers intellectual property, including copyrights and/or trademarks of the business, or plans to use the copyrighted or trademarked material of others, both federal and state laws would apply in that domain as well.
The majority of business law involves commercial law and contract law. These categories of law govern issues including:
- Business deals with suppliers of goods and services;
- Sales transactions;
- Employment contracts, including possible non-disclosure agreements.
Because contract law is involved in so many aspects of business law, it is arguably the most important area of business law. Contract law regulates many aspects of the operation of a business, including:
- A merger with another business;
- Formation of an agreement with a distributor to sell products;
- Contracts to obtain the goods and services from suppliers that the business needs to operate.
Business law also includes federal, state, and local regulations. There are many specialized subcategories that govern businesses. The subcategories of business law may apply to both individuals and business entities. Subcategories of business law may include:
In most cases, more than one of these subcategories of law will apply to a business issue. Because of the intricacies of business law, it is essential to consult with a business attorney for advice when starting a business. It is also advisable to be prepared to have an attorney with whom business owners can discuss their business’s operations routinely.
What Does Business Formation Mean and Why Does It Matter?
Business formation occurs when an individual decides they want to start a new business. They must determine what type of business structure they want to use when registering their new business. There are numerous possible forms of business that the founders may choose from, including:
The business structure an owner chooses can have a significant impact on the future of the company. The way a business is formed affects such issues as:
- The amount of money the business can accept from investors and the interest in the business that investors get in return for their investment;
- How many individuals are permitted to sit on the board if it is a corporation;
- How to manage liability for the debts and/or other liabilities of the business;
- How the business is taxed.
Some business structures also include rules regarding the operation of a company. For example, in a limited partnership, there must be at least one partner who serves as a general partner or business manager and one limited partner in order for the business to exist as a valid limited partnership.
What Are Some Common Business Law Disputes in Southern Florida?
There are many ways in which business disputes may arise in southern Florida, as well as in the rest of Florida. Some business disputes are more common than others. For example, it is not uncommon for business partners to have disputes over how to manage their business.
Another type of common business dispute involves the products and services of the business. Issues may include a disagreement with a third-party supplier over the timing of delivery of goods that were shipped or the price of the goods. These types of disputes are usually governed by contract law or commercial law.
It may not matter in which part of the state of Florida the business operates. In most cases, the parties can refer to their contract and look to Florida contract law to settle their issue.
Disputes with customers are almost inevitable. A customer may claim that their goods arrived damaged and may reference the business’ guarantees and/or warranties to obtain a refund. In many cases, the business will simply replace the item. However, in some cases, the resolution may not be so simple, and the conflict may lead to a lawsuit.
For example, a customer might purchase a product that includes an express and/or implied warranty, and the business breaches a warranty. In this case, the customer can bring a lawsuit against the business for selling a defective product. Both commercial law and state product liability laws would apply to this type of case.
Another type of business dispute that may arise includes a dispute regarding intellectual property, such as copyrights, patents, trademarks, and trade secrets. A common issue that arises involves the stealing of trade secrets or infringing on copyrighted material.
One company may steal information, and/or an internal employee may give away a trade secret, such as a secret recipe or formula that belongs to the business. If so, the business may sue for damages. This type of business dispute involves both contract law and intellectual property law.
Should I Consult a Florida Lawyer for Questions About Business Law?
If you are starting a business in southern Florida, you want to consult a Florida business lawyer about the numerous issues involved in business law in Florida.
LegalMatch.com can connect you to a lawyer who can give you the help you need from the start. It is best to have the help of a business lawyer from the start when starting a business. A lawyer can provide you with advice regarding the best way to form your new business and where to site it. A lawyer can help ensure your business is complying with local, state, and federal laws.
If you have a business dispute with a supplier or customer, your lawyer can engage in negotiations, or if you are sued, represent you in court. A local Florida attorney will be aware of what Florida-specific business litigation laws apply to your case.
