As a small business owner, you must constantly navigate a complex legal landscape. From federal regulations to local ordinances, it's hard to keep up with all the laws that affect you, but if you don't, you could suffer the consequences.

In this article, I'll simplify the recent legal landscape for you by examining a few recent Supreme Court decisions and explaining how they affect your business. Then, I'll show you how to get ongoing support so you never have to keep up with changes in the law on your own.

We'll start with the most significant recent law change, the “Chevron Doctrine.”

One of the most significant rulings for small businesses this year was the Supreme Court's decision to overturn something called the “Chevron Doctrine.” This doctrine refers to a decision that became law in 1984, giving federal agencies broad authority to interpret laws and regulations. In essence, if an agency's interpretation was reasonable, courts had to defer to it, and businesses were bound to it.

This often led to situations where small businesses were faced with confusing or overly burdensome regulations. The Supreme Court's decision to overturn the Chevron Doctrine means that courts will now have more power to review and challenge agency interpretations. This is a major win for small businesses, as it gives them more leverage to fight back against unfair regulations.

To better illustrate the impact of the Chevron decision, let's consider the case of a small manufacturing company. This company was facing a significant increase in regulatory costs due to a new Environmental Protection Agency (EPA) rule. The company believed that the EPA's interpretation of the rule was unreasonable and would put its business at risk. After all, small business owners have fewer resources than their big-business counterparts, so compliance could mean the difference between financial success and financial ruin.

Before, the company would have had limited options to challenge the rule. However, after the Chevron Doctrine was overturned this year, the company was able to file a lawsuit arguing that the EPA's interpretation was unlawful. The court agreed with the company and struck down the rule.

In addition to overturning the Chevron Doctrine, the Supreme Court also ruled in favor of small businesses in several other cases. For example, the Court struck down a rule that allowed the Securities and Exchange Commission (SEC) to pursue enforcement actions against small businesses without providing a jury trial. This is a significant victory, as it protects small businesses from potentially unfair and costly legal proceedings.

The Court also ruled that small businesses can challenge federal regulations even if they haven't been directly harmed by them. This is important because it allows small businesses to fight against regulations that could potentially harm them in the future.

In addition to the cases discussed above, the Supreme Court has also ruled in favor of small businesses in several other areas. These include:

Labor law: The Court has ruled that small businesses have the right to require employees to sign arbitration agreements, which can help to resolve disputes more efficiently.

Tax law: The Court has ruled that small businesses can deduct certain expenses related to their businesses, even if these expenses are incurred for personal purposes.

Property rights: The Court has ruled that small businesses have the right to challenge government takings of their property, even if the government is acting in the public interest.

These recent Supreme Court decisions are a major victory for small businesses. They demonstrate that the Court is committed to protecting the rights of small business owners and preventing them from being overwhelmed by burdensome regulations.

As you continue to grow your business, it's important to stay informed about the latest legal developments. By understanding your rights and knowing how to protect your business, you can increase your chances of success.

As a small business owner, it's important to stay informed about the latest legal developments so you don’t run afoul of the law, and so you can take advantage of changes in the law that benefit you. If you want to stay on top, here are some tips for staying up-to-date:

Leverage online resources: Government websites are updated often, especially when there’s a recent change in the law, so make sure you have a system for reading them often. You can also check out websites for industry associations, as they will also inform you when a law change affects that particular industry. Additionally, if you are active on social media, follow experts in the industry, as they may keep readers notified of any updates.

Attend conferences: Many industries hold conferences where you can not only network with other business owners but also stay informed about topics affecting that industry.

Follow legal blogs and websites: There are many legal blogs and websites (like this one!) that cover issues relevant to small businesses. Be sure to follow those that publish frequently, as many do not. You don’t want to rely on outdated information.

Finally, know that many types of law affect your small business and the law can change often. If you aren't staying on top of these changes, you may find yourself at a disadvantage in the marketplace, or worse. However, it takes an investment of time and energy to keep abreast of the constant changes in the law, and it’s probably not the highest leveraged activity for you. You should use that time to focus on only the things you can do to push your business forward.

As a small business owner, your time is valuable. Trying to keep up with the constantly changing legal landscape is not only time-consuming but can also lead to costly mistakes. Instead of wasting your precious resources on legal research, let me handle it for you. As your LIFTed Business Advisor, I'm committed to informing you about the latest legal developments affecting your business. By staying up-to-date on relevant laws and regulations, I can help you avoid costly legal pitfalls and ensure your business is protected.

Schedule a call with me to learn about my LIFT Business Breakthrough Session, where we’ll take a deep dive into all your business systems, including legal, identify any gaps that could put your business at risk, then create a plan for getting your business on solid footing. With the right plan in place, you can focus on what you do best—growing your business.

Book a call here to get started today.

This article is a service of a Personal Family Lawyer®. We offer a complete spectrum of legal services for businesses and can help you make the wisest choices with your business throughout life and in the event of your death. We also offer a LIFT Business Breakthrough Session™, which includes a review of all the legal, financial, and tax systems you need for your business. Call us today to schedule.

The content is sourced from Personal Family Lawyer® for use by Personal Family Lawyer® firms, a source believed to be providing accurate information. This material was created for educational and informational purposes only and is not intended as ERISA, tax, legal, or investment advice. If you are seeking legal advice specific to your needs, such advice services must be obtained on your own separate from this educational material.

We offer a complete spectrum of legal services for business owners and can help you make the wisest choices on how to deal with your business throughout life and in the event of your death. We also offer you a LIFT Your Life And Business Planning Session, which includes a review of all the legal, insurance, financial, and tax systems you need for your business. Schedule online today.