The Importance of Legal Knowledge For An Entrepreneur

Legal Knowledge For An Entrepreneur

There are many things that motivate a person to enter the world of entrepreneurship. There are those who just continue a family-derived business, some are "forced" to start a business because they never got a job, some are really aspiring to become entrepreneurs and try to make it happen.

Anything that encourages someone to enter the world of entrepreneurship, every entrepreneur should be a "law literate" individual. Legal literacy refers to knowledge of legal business management, tax calculation systems, forms of business entities, and other matters.

The reason is that in today's business atmosphere there are more and more business dangers that can be experienced by anyone who does not understand the law. Small things such as work agreements to managing business property rights are determining factors that cannot be ignored. Sufficient legal knowledge is now needed in almost all areas of business, from selling goods and services, offline to those moving via online business media.

Learning legal knowledge should be carried out from an early age when starting a business. So that over time, business development can be in line with the increasing knowledge of the entrepreneur of various applicable legal regulations and business licenses. The following are some important points regarding legal knowledge that an entrepreneur should learn and understand:

Get to know the various forms of legal entities

The legal form of a legal entity is usually used to establish formal collaborations with other businesses, participate in various private and government tenders, and as a basis for applying for other forms of business licensing.

In this case, you as an entrepreneur can consult with a notary or legal consultant to determine which legal entity is most appropriate for your business. Some forms of legal entities that are commonly used are individuals, firms, limited partnership (CV), and limited liability companies (PT).

Overcoming Global Business Issues

Legal knowledge is also important for dealing with the legal challenges faced by a business. Some important problems that are usually faced by a business, for example in terms of tax administration, trademark registration, employee recruitment, and negotiation of business transactions.

The business knowledge possessed by an entrepreneur will help the entrepreneur to avoid violations and manage legal risks and company financial risks.

Optimal HR Arrangement and Placement

Optimization of HR performance in a business is very important. However, do not let the efforts to optimize the performance make the employee feel disadvantaged by the company. As an entrepreneur, you must remember that there are written rules governing the rights and obligations of an employee. Maintain good relationships with the employees who support your business.

Don't let these employees feel aggrieved and end up complaining to legal protection agencies. Also learn other things including overtime, calculation of wages, termination of employment, and rules regarding leave conditions.

Registration and Protection of Intellectual Property Rights

Intellectual property rights are laws and regulations that govern trademarks, patents, copyrights, and plant varieties.

You must register and protect intellectual property rights so that there are no misunderstandings and disputes regarding company assets in the future.

Understand environmental legal requirements

Currently, Indonesia is implementing new regulations that tighten a business license, in terms of the impact of the company on the environment. The state will not give legality to a business that can pollute or endanger the surrounding environment.

Therefore environmental licensing is one of the things that are mandatory for applying for a basic business license.

Understanding Access To Apply For Loans

Business entities in the form of legal entities will find it easy to apply for loan funds from banks. Consult your legal consultant when applying for a loan from the bank. Things that must be consulted are regarding filling out forms and business identity, terms, and conditions for applying for loans, and negotiating stages for disbursing loans.

Clear terms and conditions will help an entrepreneur to apply for a loan and make easy installments.

Those are some legal knowledge that must be known and understood by an entrepreneur. To gain this knowledge, an entrepreneur can continue his study of company laws or consult directly with legal consultants or notaries. Good legal knowledge will be a great asset to advance a business legally.

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