Starting and running a business comes with many legal responsibilities. Here are the five key legal areas you need to get right to protect your business and sleep better at night.
In This Article
Choose the Right Business Structure
Your business structure affects everything from taxes to personal liability. Most UK small businesses opt for either a sole tradership or limited company status. While sole trading offers simplicity, a limited company provides better personal asset protection. Consider your long-term goals and risk tolerance when deciding.
Pro tip: Don’t rush this decision. Talk to both an accountant and solicitor about which structure best suits your specific situation.
Get Your Contracts in Order
Good contracts protect your business relationships and prevent costly disputes. You need solid agreements with suppliers, clients, and employees. Keep your contracts clear, specific, and written in plain English.
Key contracts to prioritize:
- Employment contracts
- Client service agreements
- Supplier agreements
- Non-disclosure agreements
- Terms and conditions
- Understand Your Property Rights
Whether you’re leasing or buying commercial property, the legal details matter. Commercial leases are complex – from break clauses to service charges. Get professional advice before signing anything. If you’re working from home, check your insurance and mortgage agreements allow business use.
Protect Your Intellectual Property
Your business name, logo, inventions, and creative work need legal protection. Register trademarks for your brand elements. Use copyright notices on your content. Keep detailed records of your IP development.
Stay Compliant with Data Protection Laws
The UK GDPR means strict rules about handling customer and employee data. You need:
- A clear privacy policy
- Secure data storage systems
- Customer consent processes
- A data breach response plan
Next Steps These fundamentals form the legal foundation of your business. Get them right early to avoid problems later.
Your Next Step
Contact us today at 0121 268 3208 or via email at info@onyxsolicitors.com for a FREE consultation. Let us help you achieve the peace of mind that comes with having expert legal support on your side.
