Contract a contract is an exchange of promises between two or more parties to do, or refrain from doing, an act which is enforceable in a court of law it is a binding legal agreement 6 agreement every promise or set of promises forming consideration for each other 7. Legal information to start your business from the first business plan to the incorporation of your company. Legal aspects of a business when starting up a new business it is very important to look at the legal aspects which will influence the company in the future in this part of the information file there will be the most important legal aspects for running a student company.
Choosing a business name is critical to the business planning and development process your business name needs to reflect your brand identity, it needs to be clear of trademarks, and ready for use on the web. Don’t be afraid of this i won’t lie it’s scary when someone wants to sue your company but the legal system, for all it faults and issues, does provide a reasonable framework for resolving business disputes what follows is meant as an overview to get you exposed to the legal aspects of running a business.
If you are starting a small business, you have several responsibilities like any other business, there are several legal aspects to owning a small business which, if not dealt with properly, may land you in the midst of lawsuits.
Everything from your business name to its structure to its operation has legal implications what follows is a sampling of some of the legal concerns you may want to address with your attorney before you start your business.
Legal aspects of business mb 0050 25 statute law: the statute law refers to the law laid down in the acts of parliament 26 state: a state is a territorial division, with people therein subject to a uniform system of law administered by some authority of the state 27. Nondisclosure and confidentiality every business has a legal right to protect sensitive, private or mission-critical information it shares within a contract agreement.