Small businesses are often labeled as the backbone of an economy. However, in terms of legal protections, they move on the proverbial tight rope.
The underlying point is that small businesses cannot afford to spend major monetary resources on legal fees, but they do need a system by which business practices are protected.
Individual practices that fall out of the gambit of the law can also negatively influence a company. This can be seen from the latest case of Steve Mason who runs the Oasis Bar & Grill. Sports betting is illegal in Muncie, but the perpetrator couldn’t comply with the Indiana Gaming Commission laws for professional gambling, particularly because of his lack of awareness of the law.
Legal Help as a Deterrent
Generally, small businesses focus on product development and innovation more than other aspects. However, a simple review of the litigation against businesses in 2013 alone would provide a good impetus to devise a decent legal strategy.
Consider the Indiana Small Business Guide for that matter. It differs from other states and has special provisos for environmental safety and health regulations. This means that whatever policy/product/service is designed for the business, a legal review becomes imperative.
Then, the recent data protection fiasco that has sprouted due to the Snowden/NSA case brings fresh legal complications. Ignorance is never a line of defense when it comes to data piracy, and business owners can end up in jail.
Criminal procedures can have significant impact on the health of a small business. In order to prevent this from happening, professional bail bond agents become necessary to protect the integrity and finances of the business. Getting the defendant released on bail ensures that the small business will have ample time to mount a defense. This also protects the company by preventing it from jeopardizing itself by posting the full bail amount.
Legal help: a practical need
In small businesses, when one particular brand of enterprise is sued, a lot of opportunist mafia swoops. The tort and patent troll cases within the software companies in the US become relevant in this regard. States like Indiana are pursuing aggressive approaches to control such troll cases that affect all businesses in Muncie and surrounding cities.
Also, negligence or oversight of a law that varies state by state can translate into business-ending costs. Therefore, legal help becomes highly significant to avoid business shutdown.
From the cost perspective as well, it is better to manage legal risks than resolve them in courts. A business that delays legal help also decreases the chance of avoiding a legal penalty. The easy way out is to pursue the legal marketplace at an initial stage, and that too at a low-cost.
Another cost-effective measure is to employ IT mediated tools for legal procedures. By staying updated on newer reforms and legislation, a lot of hassle can be avoided.
The current economy is still on the road to recovery from the 2008 fiscal crises. Spending money on legal protection for a small business may seem an extra expense on paper but in reality, it is an investment necessary for survival.