Describing the Basics of Business Law
In order to "get the most" out of a business law attorney, the business owner first needs an understanding of what business law is and why it exists. Moreover, the business owner needs to understand the areas of law that their business law attorney practices (and those areas the attorney does not practice) so as not to waste their time (and money) by asking the lawyer to provide services that he or she does not provide.
Business law, in a general sense, is the collection of laws and regulations that govern the conduct and structure of a business. For example, the taxation of businesses and how a business is structured and organized are all within the field of business law. Business law looks at how businesses should be set-up in order to adhere to legal requirements (such as taxes) and states and federal regulations.
Contracts (areas within business law) are the formation of legal agreements. Thus , contracts are the creation of laws that all parties must follow (e.g. contract terms should be followed if they are specifically part of the contract). Contract law under the broad umbrella of business law deals with these types of issues. Areas such as breach of contract law also fall within the area of business law, as deep breaches of contract often lead to litigation. In addition, the law of agency can fall within the area of business law as well- it regulates the conduct and legal effects of an agent, or someone that represents another party.
Employment law can be a particularly important subset of business law depending on the business structure and number of employees. It essentially regulates the relationship between employers and employees. These can include issues such as workplace discrimination, harassment, and the creation of an employee handbook. There are some special considerations to conducting legal research for labor or employment issues and your business lawyer should be readily familiar with how to do this.
Commercial transactions, supplier and vendor contracts, and leases are other areas of business law that may be impacted by the growth and expansion of a business.
The Benefits of Business Law PDFs
In the fast-paced world of entrepreneurship, having access to reliable, straightforward legal information is essential. Accessing this information in the form of portable PDF files offers the convenience, clarity, and control that today’s entrepreneurs demand.
Convenient and Portable Access to Business Law Information: Among the most valuable advantages of using business law PDFs is that they give entrepreneurs the power to access relevant information from anywhere. For dynamic entrepreneurs who are usually on the move, it can be difficult to attend a firm workshop, visit a library or spend hours on an internet search to locate pertinent information. By contrast, downloadable and printable business law PDFs allow entrepreneurs to prepare contracts, read material on tax strategies and expand their understanding of other crucial topics from anywhere, at any time. Load proprietary PDFs onto your business’s computers, upload them to a website, distribute them during a seminar or archive them on your smartphone or tablet for easy access anytime you have a few minutes to spare.
Readily Accessible to Share: In addition to being quickly accessible from your laptop, tablet or smartphone, business law PDFs are ideal for distribution and location. Need to get a stack of contracts to your salespeople? Simply email them a PDF. Using a PDF or watermark-friendly version of your material will also allow you to send new law updates to partners. Save paper with the click of a button by distributing the information you need for meetings in PDF format, rather than printing out dozens of pages. During your meeting, you can scroll through the document together with clients or colleagues, further enhancing the collaborative nature of business planning.
Easy to read, print and search: Not only are most business law PDFs clearly printed and easy to read, they also offer the biggest advantages over traditional word documents and online articles. In many ways, PDFs offer the best of both worlds. You can prepare a document to look exactly how you want, and preserve formatting across all devices, just like you can with a word document. However, unlike word documents, you won’t lose all of your hyperlinks when printing or sharing. In fact, PDFs will retain the hyperlinks (and adjustments that you may have made to the document) and will allow readers to easily jump to references that may be mentioned throughout the document. Additionally, if you are searching for a particular word or phrase, you can easily search the entire document for it or create a list of documents that contain it.
Business law PDFs are a wonderful resource for lawyers, entrepreneurs and corporations. As you prepare your own documents, articles and content, consider preparing them in this versatile, useful format.
The Best Free PDF Books on Business Law
Many reputable institutions provide free and downloadable business law PDFs on some of the most important laws for businesses today. Some of these are by law schools, like the Business Law Pdf provided by Seton Hall University School of Law, which covers a range of topics, including requirements for enforceable contracts and sales of goods. Like many of these materials, it may be more relevant to a particular state, in this case New Jersey. Other institutions, like the Center for Advanced Study from The University of Texas at Austin, cover general topics involving federal business law—a subject that is not always specific to state laws. Their Administrative Law: A Primer on the Regulatory State contains summaries of 25 significant federal administrative law cases from 1945 to 1993. The Center also hosts a variety of other downloadable and free materials that assist lawyers, including publications covering patent laws and employee rights. Other resources include the Business Law PDF from the College of William & Mary Law School, which is aimed at undergraduate students, but covers all the essentials of business law, and the lecture notes of Professor Adeno Addis from the University of Illinois College of Law, which also have a broad focus on business law, with many applicable federal regulations and laws. The University of Iowa College of Law provides free access to their Business Transactions Materials, which include over 600 pages of materials covering business law and transactions. The Subject Matter Outline for Law School Exams offers specifics on what professors expect of law students, and Young Chul Kim provides a concise overview of U.S. antitrust laws.
How to Decide What Business Law Book PDF Is Right for You
When looking for the right business law PDF, there are several factors to take into account. First and foremost, it’s crucial to choose a source that has established itself as a credible authority in the field of business law. This will often be evidenced through a variety of avenues, whether it be an organization’s professional affiliations or a law firm’s reputation. Speaking to any previous clients and evaluating reviews of the materials in question will also go a long way towards helping to make the decision that’s right for your needs.
Another important factor to weigh is how relevant the PDF is to the specific business or businesses in question. Business law covers a wide range of topics, so those in need of general advice on corporate structure may not need the same materials as those looking for more specific guidance. As the old adage goes, no one likes to pay for a service they don’t need, so shop around for an option that fits your particular niche situation . Make sure to vet any material that may cover more specific areas of practice, as there’s no use in paying for broad business law advice when you’re looking for something very specialized.
Additionally, consider whether the information in your material covers everything you need it to cover. In order to truly be of benefit to a company, a business law PDF should provide comprehensive coverage of all pertinent areas of law, whereas a material that only covers a few may not be worth the investment. This also speaks to the relevance of the material; if the information provided is not very helpful to your business, it definitely shouldn’t be part of the purchase.
Getting to know a company’s process for obtaining, creating and marketing their business law PDF will go a long way towards ensuring that you are getting one that’s right for you.
Keeping Up With New Editions and Cohen’s Supplements
In the world of business law, keeping up-to-date with the newest cases and developments is crucial. Books are no exception; most law books are constantly updated and revised, and can be published in various editions over the years. While new editions of books can be a bit pricey, they are often necessary if the prior edition has not been updated accordingly. However, many law schools now offer supplements that can be a cheaper, if not more practical option for students – sitting in a classroom with heavy books is not always the best option for learning business law. So what are some of the key features of these new editions or supplements and how can they help with understanding the topics covered by the book?
Many of the better known business law textbooks are revised every few years, and in most cases, students will not have a choice but to purchase the newest one. Helpful sections that are added to newer editions can help make it easier for students to understand business law, and therefore do better in class and on exams. It is always noted that law is a constantly changing area, and so older editions of textbooks may not be as up-to-date as students would like. While older versions of texts can help if the reader is using them as a secondary source to understand the basics of a concept, there is no guarantee that the cases in the prior edition are still good law, and you can never be sure that the case itself has not been overturned! The newer additions of business law textbooks are often published to include the most recent cases, as well as any changed laws that are relevant to the textbook’s content.
Many law schools use supplements as mandatory readings throughout the semester. Supplements tend to be shorter, more condensed versions of the theme covered by the main textbook, and often include problems and questions for students to test themselves. These supplements can be a beneficial way to gain a better understanding of the cases and content covered by the textbooks used in classes, especially since many of them were created specifically to be used with another book or class.
Supplements are a much cheaper alternative for students – and often far easier to carry! – than many textbooks, which can make them a valuable resource for all business law students. Some examples of popular supplements include Pamela Tepper’s Business Law: Text and Cases, John Adamson’s Business Law: Text and Cases, and Place&Paul on Business Law: Text and Cases, Financial Institutions and Personal Property.
It is important however, to note that just because someone has a business law textbook or supplement, it does not mean that they are business law experts or knowledgeable individuals in the field of law. Never assume that something you read in a textbook or a supplement is the full story or that it is accurate.
How to Apply Your Business Law Knowledge
The information available in the "do it yourself" business law downloadable PDFs on our website is usable in the real world and can be helpful to startup businesses and existing businesses alike. Familiarity with the relevant laws and regulations is a must for businesses of all sizes. The law regulates everything from the formation of a new business to the dissolution of a corporation. Particular business law issues tend to trip up a lot of businesses. Because of the fairly routine nature of these issues, problems can be prevented if business owners and managers are knowledgeable of what they are or should be doing in a given situation and why. For example, the decision to incorporate or form an LLC is not a particularly complicated one but it does involve significant legal consequences that you should consider. If you misstep, you may be personally liable for business debts even if your company is organized properly. More commonly, we deal with limited liability companies (often referred to as "LLC") and C-Corporations. Which type makes sense to you will depend on the business, its owners and future plans among other factors.
Another very important issue that should be considered carefully is whether the owners want to start as a general or limited partnership. A general partnership is not ideal for every circumstance, but most times the partners do not consider this option when starting out without understanding exactly what is involved and how fragile the entity is. Any oversight can create unlimited liability for the partners. The problem with general partnerships is not necessarily the partnership itself, but the common law legal default rules that govern all general partnerships unless the partners legally opt out of the default rules that apply to all general partnerships . If one partner missteps, you could be implicated just as much as he or she is. This is because you are equally responsible for his or her actions if not more so when no alternative decision is made. Working with an attorney who understands these issues at the outset of your formation will ensure that you are protected if something goes wrong, or at least that you are aware of your risks and are splitting them with your fellow partners. Otherwise, you may not realize until much later what went wrong and only at that time will you fully understand your rights in the company and the extent of your financial exposure.
When forming a new business, you will need to determine how and when to obtain a federal Employer Identification Number (not always required) and how to decide whether to file for state tax ID number or withhold taxes and pay unemployment insurance. You may also need to sign a corporate resolution document to designate someone to do this and open bank accounts, etc. It is also important to get the right licenses and permits, file all of the right formation documents with the Secretary of State and follow any other laws and regulations that will apply to your particular business or industry.
Limiting your potential liability is always important. The downloadable PDFs on the "do it yourself" business law section of our website can help you consider all of the issues you need to think about and most importantly understand what you are signing, have signed and what you are doing so you avoid potential liability issues in the future and not just get into trouble with a regulator.