Whenever you start a business, it has to have a strong foundation. Whether the business is a large corporation or a smaller start-up, you will want to have the right protections in place to make the most of this venture.
With an international business, you have the opportunity to benefit from global commerce. You may have multiple shops in several countries or be able to ship internationally.
You should know that the laws that will apply to you will vary based on where your main business is located as well as the unique laws of jurisdictions all over the world.
You need to have a strong foundation to work internationally
Before opening an international business, you do need to have a strong core business structure. You may want to look into:
- Opening offshore accounts
- Merging or acquiring other foreign businesses
- Licensing and protecting your intellectual property
- Purchasing real estate, such as new hotel properties or office buildings
No matter what kind of business you have, you have to be sure that you take these steps correctly. If you violate a law or don’t realize the tax implications of a move, then you could find yourself in a difficult position in the future.
Is it a good idea to work with an international business attorney?
Yes. International businesses often deal with high-stakes situations. To make it more likely that you’ll come out ahead rather than having contractual problems or financial issues you weren’t expecting, you should always run your business plans by those experienced in the field. At the very least, you should take the time to go over your international business plans and to get to know the laws and regulations that may impact your goals.
Every business is different, but one thing is always true. If you don’t start off with a strong foundation and understanding of the business laws that apply to you in and outside of the United States, then your business is more likely to fail. Don’t be afraid to look for support and the answers you need to know that your business is set up for success.