The prospects of starting a new business in Alberta are exciting. However, proper planning is crucial to the business' success. Choosing between the various business structures is essential because it will affect other decisions, and compliance with business law and tax laws from the onset is vital. It is only natural to have many questions, and approaching the right person for answers is essential. The options are sole proprietorship, partnership and incorporation.
Trade secrets can involve valuable information about a business, and leaking such secrets could be devastating for Alberta businesses. One example is the Coca Cola Company that has protected its soft drink formula for over 100 years. For some businesses, their ongoing success is dependent on the protection of trade secrets. However, business and commercial law in Canada does not offer intellectual property protection.
Business owners in Alberta have to deal with potential fraud risks along with all of their other efforts to keep afloat. Some are proactive and seek the guidance of a lawyer with experience in dealing with business laws to separate myths and reality when it comes to fraud threats. Reportedly, more than half of all organizations in Canada fell victim to fraudsters in 2017.
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.