Colorado entrepreneurs know that running a business is no easy task. From managing employees and purchasing products to keeping up on all the new technological breakthroughs and possible patent or trademark infringements, few people can manage a business alone. In fact, having a team in place that will cover all aspects of a business, from a developer to an experienced business attorney, is imperative.
While prior blogs have discussed complex business litigation involving mergers and acquisitions and patent disputes, another important area of business law concerns employment. Employment law is a big part of business litigation in Colorado and across the country, and it covers everything from discrimination suits to employment agreements. And, like just about ever other area of business and corporate law, employment law is constantly changing.
In fact, it was recently announced that a bill giving the state more power to go after companies accused of failing to pay employees proper salary and wages passed the Colorado Senate, despite previous opposition that led to the bill's defeat in 2013. While the bill has received mixed public reviews, it provides the state with significant new investigative powers into business activities, something all businesses need to be aware of.
Running a business is a complex task with a thousand moving parts. While any one person can be great at one or two things, few people can be great at all of the skills necessary to run a successful business. Even if a person is that great, few people can keep up on the multitude of changes that take place from day to day. Keeping up on the changes in employment and business law is of utmost importance, and it may be a good investment in a business owner's future to delegate that task to an experienced business attorney.
Source: Denver Business Journal, "How wage-theft regulations bill became OK with Colorado business," Ed Sealover," April 17, 2014