For a business to be considered “compliant,” they have to conform with the rules and regulations set upon their operation and management by federal and state law. Many times, this can be easier said than done because the laws that govern business in the U.S. are vast and varied. As such, with everything else you have to worry about in operating your business, you also have to worry about whether or not you are being compliant. If you face an audit and are found to be not compliant, you may be subject to heavy fines and penalties. With that being said, what are some common compliance issues you should know about?
- Labor laws
Labor laws can be complex, and if you are not careful, minor violations can slip through the cracks in your day-to-day operations. You might be non-compliant right now and not even know it. An experienced Florida business lawyer will know what to keep an eye out for and can evaluate your business for violations in areas like:
- Benefits regulations
- Wage and overtime regulations
- Employee vs. independent contractors
- Employee handbooks
- HR issues
- EEOC issues like sex and race discrimination
- Department of Labor issues
- IRS audits
- And much, much more!
- Data breaches
If you are storing consumers’ private information within your own company’s database or a third party’s, you are likely aware of the risk that doing so could pose and the liability you assume in case that database is hacked. Not only do you want to protect that information, you also want to be compliant at the base level. Consulting with a business attorney about the relevant laws and statutes concerning this should be one of your primary objectives as soon as possible.
- Risk assessment
When you are wearing multiple hats in your company and trying to keep it running, it can be difficult to pinpoint where the most risk is occurring in your company. Where are you experiencing the most liability? Where are the leaks in your ship? An attorney can help plug up those leaks and prevent more from happening in the future.
- Franchise agreements
Many businesses these days are franchised. If your business is one of them, then you’ve signed a franchise agreement that must be followed to a tee. We can review your franchising agreement and help either review or correct any compliance issues that might be occurring.
- Workers’ Compensation
Each state has its own unique Workers’ Compensation laws. We can help your business ensure compliance with the laws and regulations that apply to your company.
Contact Us
At Trembly Law, our team is experienced in all things related to your Florida business and can help ensure you are compliant on all fronts. It’s better to be safe than sorry (and paying fines and penalties), especially when it comes to your business. Please call us at (305) 431-5678 or contact us here if you have any questions.
