When the wealthy owners of successful businesses in Alberta divorce, there will undoubtedly be concern about its effect on the company. Regardless of whether one or both spouses are involved in the business, financial issues may arise in any high net worth divorce. Along with the divorcing spouses, business partners will naturally also want to limit any adverse effects.
There is no shortage of scammers targeting commercial enterprises in Alberta and across the country. It is typically up to the business owners to put processes in place to protect their assets. It is crucial to train employees to detect questionable requests and offers. The only way to prevent falling victim to scammers is to recognize red flags and take preventative steps.
Private business owners in Alberta can, under certain circumstances, refuse to serve clients. Business and commercial law even allows the companies to bar customers from entry, as long as these measures are not in violation of state and federal human rights or other laws. While many businesses have dress standards by which people without shoes or shirts are not allowed entry, race, ethnicity, religion, age and many other grounds may not form the basis for refusing service or admission.
Consumers in Alberta and across Canada typically enter into several contracts each day without even realizing it. Buying property and obtaining a mortgage is a contract entered into with the bank; starting a new job involves the signing of an employment contract, and purchasing items is also a contract. When either party violates the terms or conditions of a contract, the best person to contact would likely be a lawyer with experience in business and commercial law. Regardless of the type of contract signed, it needs to contain six essential elements to make it legally binding.
The Canadian Radio-television and Telecommunications Commission monitors the marketing methods of businesses in Alberta. One of the many business laws with which business owners must comply deals with unsolicited communications. The regulations aim to protect the interests of the Canadian public by regulating and supervising telecommunications and broadcasting activities.
When consumers are faced with long lists of terms and conditions, many tend to agree without bothering to read it. Though commercial laws serve to protect both consumers and businesses in Alberta, and across Canada, not all business owners comply with established standards. Terms and conditions can serve to contain important details about the company and its protocols, while also serving the interests of the consumers.
With the holidays approaching, along with the increased commercial pace, fraud will likely be rampant. Business fraud is something that costs businesses in Alberta and across Canada millions of dollars each year. Fending off business fraud requires vigilance and plans that involve owners and staff members. Fraudsters are enterprising, and they will always come up with new, more innovative strategies to get past that first line of defence to gain access to emails, social media and more.
One of the most important considerations when establishing a new company in Alberta is how to set it up properly. There are several options for business structures, including partnerships, proprietorships and corporations. In partnerships, liability is unlimited because each partner is personally responsible for business debts. The tax returns of each partner must include their personal and partnership incomes. It is also a good idea to consider the type of relationship that exists between partners to identify potential decision-making problems.
Many Alberta business owners have suffered the financial consequences of insufficient protection of their trade secrets. Anything that can adversely affect a business if it becomes public knowledge can be regarded as a trade secret. Business law does not protect confidential information, but many ways exist to protect trade secrets.
When a business in Alberta becomes involved in disputes with consumers, the damage it can cause can have severe financial consequences. Allegations may include franchise disputes, breach of contract, misrepresentation, fraud or unfair business practices. The sensible thing to do would be to prevent such problems, and if they do arise, it is best to seek legal counsel to assist with resolving the issues.