Reardon Anderson - February 2022

Reardon Anderson - February 2022

ReardonAnderson C O U N S E L O R S A T L A W

ReardonAnderson.com

February 2022

DON’T MAKE AVOIDABLE MISTAKES — LEARN THE BASICS TODAY! 5 LEGAL BASICS FOR SMALL-BUSINESS OWNERS

Everyone needs to be mindful of certain legal basics in order to avoid worst-case scenarios — business owners are no different, and in ways that are not always obvious. In our day-to-day lives, we obviously recognize we shouldn’t speed, steal, or assault anyone. However, when you’re running a business, you have to be aware of many types of legal issues which can impact your business, such as: contracts, employment matters, taxes, and workplace safety law. But you don’t have to go it alone. With a business lawyer, you and your business can stay on the right side of the law. Here are five of the biggest small-business legal insights entrepreneurs may or may not be aware of. NO. 1: A BINDING CONTRACT MUST HAVE A ‘MEETING OF THE MINDS.’ The basic tenet of contract law is crucial to running a business; a contract cannot be binding unless there’s been a “meeting of the minds.” This means that both parties share a core understanding of the contract's terms and agree to be bound by them. A written, signed contract can greatly support the idea that there was a meeting of the minds, and a binding agreement. This written document

and contracts that cannot be performed in less than a year. Most attorneys agree that written contracts can help avoid confusion, but always keep in mind that you must be careful about what you say or agree to. Both New Jersey and New York have one-party consent laws, meaning consent from only one party in a conversation

is required in order to record the exchange.

NO. 3: PROTECT YOUR INTELLECTUAL PROPERTY. Do you have a copyright or trademark for your logo, branding, or business name? If not, you may not have legal recourse if another company “steals” it and profits from doing so as your business begins to grow and succeed. This step might seem easy to ignore at first, but don’t forget that it may cost you big later down the road.

NO. 5: YOU’RE NOT SAFE FROM CYBERCRIME — SAFEGUARD YOUR >Page 1 Page 2 Page 3 Page 4

reardonanderson.com

Made with FlippingBook Ebook Creator