Every state has unique regulations that guide licensing requirements, incorporation procedures and labor issues. For example, Delaware has flexible legal processes and tax rules that make it one of the favorite states for incorporating businesses. The amendment of existing laws and enactment of new ones also transform the legal environment. For instance, the health care and insurance industries continue to be significantly affected by the enactment of the health care reform law under President Barack Obama.
Implications of Legal Forces
The legal forces are critical for successful operations in your industry of specialization. Observe and track changes to state and federal regulations to avoid legal problems. It is equally important to understand dispute resolution and litigation procedures provided for by the federal and state laws, as this may affect your operations.