If you're planning a fairly significant investment in a new business venture, then you have a great deal to consider. You have to work out how you're going to manufacture your product or service, how it will be distributed, how you're going to handle finances and where you're going to get the best staff. In many of these areas you're going to have to address certain rules and legal implications and need to make sure that you are as well-prepared as possible for any challenges. You may think that you have considered all eventualities, but what are some of the other legal challenges you may not have considered?

Are You Treading on Toes with Intellectual Property?

All new business owners like to think that they have something unique to sell in the marketplace, but it is very unusual for a product or service to be put forward that hasn't been considered in some shape or form before. You need to be very careful, therefore, that you have full ownership rights and are not infringing upon any copyright or patent issues. This can affect not only your products or services, but the terminology that you use, your logos and website images. It's unfortunate, but there are certain organisations that like to "prey" on unassuming or less than careful people like yourself and lodge patents simply hoping that another company will violate. To them, this is a way of earning money fairly easily, so you should make sure that you're not in their cross-hairs.

Know Who You're Employing

You should also ensure that every person that you employ is thoroughly checked before you take them on. They need to be legally entitled to work in this country, which is an increasingly serious problem. The Australian government will come down hard on you if you don't do this properly, to say nothing of the difficulties you may face if an employee is suddenly removed from the payroll.

Keeping Things in Check

Remember that the customer is always right, especially in this day and age of instantaneous communication. You always need to be aware of "conversations" in relation to your products or services and take steps very quickly to head off any problems related to poor delivery. In the worst-case scenario, individuals could get together if they have encountered similar problems when dealing with your business and this can become the subject of class action lawsuits, faster than you may know.

Be Prepared

It's always a good idea to have a relationship with an attorney specialising in various areas of corporate law. This means that you'll be able to get advice quickly, so that you can take action as and when you need to.