contracts
a specific purposeful to enter into a deal
what is an offer?
the law that employees can leave at any time
what is employment at will
an individual who owns and operates and unincorporated business by themself
what is a sole proprioetor
business secrets such as a recipe or formula
what is a trade secret
Rules prohibiting anticompetitive practices like price-fixing.
what are antitrust laws?
failure to fulfill agreements resulting in termination of the contract
what is a breach of contract
the business needs to be sanitary and safe for the workers, who makes sure of this?
what is OSHA?
formed by two or more partners
what is a partnership
protects branding through trademarks copyrights and patents
what is intellectual property
The risk of legal sanctions or damage to reputation due to failure to comply with laws.
what is compliance risk?
outlines how and when a contract can be neded
what is a termination clause
limits the amount of income that can be taken from debt
what are wage garnishment laws?
dictate whether you pay self-employment tax, corporate tax, or pass-through taxation.
what is taxation
Filing annual reports, paying taxes to state/federal governments, and maintaining licenses.
what is external compliance
Internal rules for running a corporation, including officer roles.
what are bylaws