In the United States, the legal system is saturated with complicated statutes and regulations that can be interpreted in multiple ways. This can happen in countless situations. For example, a poorly placed comma or a grammar error in a state law can create confusion among the people who are expected to comply with the legal system. In other situations, legalese obscures the meaning of laws for average citizens. Because of these issues of understanding the law, many people hire attorneys to help them find answers to their compliance questions.
The Foreign World of Law
Compliance is particularly important for the owners of small businesses. Failure to comply with laws and regulations can result in large penalties that will cut into the company’s revenue. This reduces profit margins while diminishing the credibility of the company. Many owners of small businesses believe they can handle compliance matters without enlisting the help of trained legal experts. Unfortunately, these ambitious people are often disappointed by their results. The US regulatory code has thousands of regulations. The current code has over 97,000 pages of regulations and amendments. It is nearly impossible to understand the contents of the regulatory code while operating a business. Fortunately, attorneys can help people find the regulations that are relevant to their industries. This saves time and resources.
While the regulatory code is complicated, most people do not concern themselves with the majority of regulations in the United States. This is due to the fact that many regulations are created for specific industries. For example, the wide range of regulations for companies clearly do not apply to hardware stores. This is why an attorney can be a valuable asset. As someone who is familiar with regulations and laws, a legal expert can help owners identify the aspects of the system that are relevant.
Everyone in the business world should be aware of the employment laws in the United States. While these laws are not nearly as complex as the regulatory code, they can be confusing. This is because of the structure of the American government. The government of the United States is a federal system. Therefore, citizens must comply with Federal laws, state laws, and city or county laws. For example, the owner of shoe store in San Francisco must comply with Federal employment laws, California’s statutes, and local requirements. This chain of compliance can be even more complicated in charter cities where constitutional loopholes are common.
Enlisting Legal Support
Owners of businesses can avoid numerous legal headaches by becoming familiar with employment laws. Employment laws cover a wide variety of topics, so an attorney can be useful to obtain details about a particular issue. Regardless of whether the owner is creating contracts or considering severance policies, legal insights can be quite helpful.
Jeremy Goldstein is an accomplished attorney who has helped many entrepreneurs with employment law. Goldstein currently leads a law firm known as Jeremy L. Goldstein & Associates LLC. He specializes in various employment law matters, including compensation, contracting, and corporate governance. His services are regularly sought out by corporate executives who need a legal professional who can be trusted with sensitive information.
In addition to handling these legal matters, Jeremy Goldstein has overseen the legal ramifications of numerous large-scale corporate transactions. Through these efforts, Goldstein worked with Goldman Sachs, United Technologies, AT&T, and other major companies. While Mr. Goldstein is well-respected in the world of large corporations, he can also help the innovative entrepreneurs of smaller companies.
Employment contracting laws often vary by state. For example, some states in America are known as Right-to-Work states. In Virginia, this designation means that employers can fire employees without an advanced notice. Likewise, employees may legally leave their job without an advanced notice. This means that workers and employers cannot be punished for sudden contracting decisions.
It is important to note that contracts exist to protect both employees and employers. Contracts simplify the negotiation process, and they ensure that both the worker and employer honor the agreements. To ensure that these terms of agreement are upheld by all parties, employers must create a legal document with the guidance of a professional.
These employment contracts contain a wide variety of information. This information includes duration of employment, benefits, starting salary, grounds for termination, and other basic terms. In some industries, employers may also need to use this document to explain how disputes are resolved. Restrictions on sharing trade secrets with competitors may also be necessary.
In some states, firing workers can be a difficult process. Employees can be easily hired since it is a voluntary agreement for both parties. However, severance is different situation. When workers are fired, they typically do not volunteer for the opportunity. For this reason, owners of businesses need to specify severance terms in legal documents. To avoid these terms, employers are often forced to appease the former employee with a lump-sum payment.
While severance pay is not required in most cases of employee termination, it may be necessary in isolated situations. For example, if the worker belongs to a union that demands additional pay upon termination, the employer will be required to offer severance pay. Severance pay can also be provided as a means of encouraging workers to quit or retire. This can free the company from various liability risks.
Severance pay can be distributed in numerous forms. Large corporations often offer severance pay in the form of a one-time lump-sum payment. However, companies with smaller revenue flows may be required to provide severance payments in multiple installments. Severance pay can also come in the form of continued benefits.
Jeremy Goldstein has helped numerous clients avoid legal disputes with cleverly designed severance pay packages. These payments ensure that all parties are satisfied after an employment contract is terminated. In addition to freeing the company from potential discrimination liabilities, severance pay helps companies maintain a good reputation.