Publisher's Synopsis
Managing a business involves staying abreast of the legal concerns of the business community. Legally structuring a business, such as forming a corporation or limited liability company protects business owners from the lawsuits and liabilities inherent in the corporate world. Once a business structure has been established, additional legal concerns can affect how a company operates. Business managers must be mindful of labor and discrimination laws, as well as laws concerning compliance issues regarding hiring and managing employees. The Small Business Administration recommends that business owners familiarize themselves with legal issues that can affect their business and gain an understanding of the legal matters that do not require an attorney.Many Management students might wonder about the need to study Law. After all, they may have joined a management programme with the dream of becoming a manager in a multinational company in which they might assume there will be teams in of lawyers in place to take care of any legal implications.
