The thrill of investing in or starting your own business is unmatched, but building a successful organization requires a lot of hard work and tough decision-making, often involving legal considerations. Fortunately, legal technology advancements have made it possible to bridge the gap between countries and hire international lawyers to make informed decisions in difficult situations. Online legal platforms have significantly improved legal advisory services by reducing costs, paperwork, and wait times while enhancing comfort for international businesses.

International entrepreneurs face various legal issues, including incorporation, corruption, complex accounting and taxation systems, regulatory challenges, cross-border trading, and resolving insolvency. The World Bank’s Ease of Doing Business Report provides data on these complexities in 189 countries. Therefore, if you plan to do business in international jurisdictions, you must analyze and consider all the challenges involved carefully.

What issues do International entrepreneurs face, and how can these Online Legal Platforms assist them?

International entrepreneurs may face a wide range of legal issues depending on the specific situation in which they are operating. Some examples include:

Franchise incorporation: International business corporations require assistance to eliminate the legal complexities while incorporating a franchise. This also includes supporting compliance with state-specific incorporation requirements and providing legal advice to combat complete business needs. 

Jurisdictional issues: The types of governing laws involved while carrying a business in a foreign market are extensive. It is crucial to avoid jurisdictional issues by determining the laws through which business agreements and contracts would be regulated. Other factors in deciding are labor laws, customs duties and tariffs, and many more.  

International trade compliance: Global trade compliance checks are critical for international organizations as they entail various import and export laws and regulations. They must be complied with depending on the specific company policies and local laws. 

Finalizing various agreements: Business owners are advised to prepare agreements such as non-disclosure agreements, employment contracts, non-compete agreements, and much more before finalizing a business deal.

Accounting and finance: Finance and accounting activities are inevitable for entrepreneurs. They are recommended to file taxation papers after the company is formed. It is significant as it helps manage income and expenses, keep financial records and develop further strategies that lead to a more substantial potential for growth.

Examples where Legal Platforms act as a blessing for International Entrepreneurs

Setting up a subsidiary in China: If an international entrepreneur wants to set up a subsidiary in China to sell products, they must navigate the complicated business registration process, including obtaining necessary licenses and complying with local laws and regulations. Online legal platforms can provide guidance on forming a legal entity in China, registering with the local authorities, and complying with local laws and regulations. In China, franchising is prohibited unless the franchise model has been tested in the local market. Franchisors are also required to pay fines for failing to disclose material information or misrepresent information to the franchisee.

Protecting intellectual property in Brazil: An international entrepreneur wants to protect a new software developed in Brazil. They would need to navigate the process of registering for copyright and trademark protection and handle any disputes related to intellectual property infringement. An online legal platform can guide on registering and enforcing intellectual property rights in Brazil and handling disputes related to intellectual property infringement. 

Compliance with anti-bribery laws in Saudi Arabia: An international entrepreneur wants to expand their business in Saudi Arabia but needs to ensure compliance with anti-bribery laws. An online legal platform can guide and assist with compliance with anti-bribery laws and regulations in Saudi Arabia.

Protecting an e-commerce business in the Philippines: An international entrepreneur wants to protect their e-commerce business in the Philippines. They would face challenges navigating high logistics costs, difficulty in customs clearance inspection, and inconvenient business registration and licensing processes. An online legal platform can guide small business registration procedures, taxation systems, and developing infrastructure. 

Import and export regulations and compliance in Russia: An international trader may need to comply with strict customs regulations, delivery barriers, a notoriously slow clearance process, and a highly changeable political climate in Russia. An online legal platform can navigate in complying with successful inspection, customs, and import/export regulations, releasing confiscated goods, and compliance with trade sanctions and embargoes regulations.

Resolving cross-border commercial disputes in the UK: An international businessman may face potential commercial cross-border disputes because Brexit has changed the landscape. Disputes can be filed by an individual or business partner belonging to an EU member state. An online legal platform can assist with resolving disputes by identifying appropriate jurisdictional clauses and determining relevant alternative dispute resolution methods, such as mediation and arbitration, and representation in court.

International Entrepreneurs take advantage of Online Legal Platforms in various ways

Such platforms can provide access to various legal documents relevant to international transactions, such as contracts and agreements, and offer streamlined guidance for automated document generation. Additionally, some online legal platforms offer multi-language support and are more cost-effective than traditional legal services, which can benefit small and medium-sized businesses and entrepreneurs with limited budgets.

Online legal platforms offer convenience by allowing individuals to access legal services from anywhere, at any time, without the need to travel or take time off work. Moreover, many online legal platforms offer notary and authentication services, which can be particularly useful for diaspora individuals who need legal documents notarized or authenticated to complete a transaction in their home country.