Dealing with Political Change in a Global Business
by Startacus Admin
If you're planning on expanding your business internationally, here are just a few of the key legal issues you should be considering
Expanding a business overseas can be an intelligent strategic move once a business has found success domestically and it is a great way to reach a new market and take the company to new heights. It can also be difficult as there are many aspects which must be considered, including political change and legal issues and it is vital that you consider these so that you are always abiding by the law no matter where you are. Company Laws
When expanding internationally you will always need to choose the appropriate ate business structure much like when the company was first formed. This could be a branch of the existing company or choose an entirely new entity but you should always consider the legal climate in the new country.
Employment Laws
You must also keep in mind that employment law can vary drastically around the globe so you will need to familiarise yourself with the local wage, health and safety and other legal requirements relating to employees so that you can look after staff properly and avoid any costly legal issues. Risk and compliance law specialists will be able to help with issues such as this and are worth speaking to.
IP Rights
Protecting intellectual property is essential as a business but you should know that if you are operating in multiple jurisdictions, you will have to apply to each of them individually in terms of trademarks and patents.
Terms of Service
If you are a business that sells to consumers, you will need to localise your terms of service legally as well as translate them into the local language - this will provide legal protection against complaints and issues brought up by the consumer.
Tax
Of course, tax is another major issue that you need to get right as you certainly do not want to become entangled in any tax issues in another country. Taxes vary from country to country so seeking advice is always intelligent.
Data Protection
In today’s data-driven age, you will also need to consider data protection laws particularly in Europe where there are very strict laws in place. Consent or disclosure needs to be made aware to the owners and there may be limitations as to how it can be used.
These are just a few of the key legal and political areas that will need to be considered when expanding a business overseas with each needing careful attention in order to operate legally.
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Published on: 11th September 2020
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