Marketers, accountants and software developers all have their own jargon – common industry words that others might not readily understand – but the legal field is also well known for its complex lingo.
While there’s no need to go to law school if you’re not pursuing a career in this field, it’s important for business owners to have a basic understanding of the legal terminology they’re likely to encounter. You don’t have to know everything, but you do need to know enough to stay compliant. It’s also essential to know when you should hire an attorney. Consider this your crash course on legal terminology – no Bar exam necessary.
Below are more than 30 legal terms you’re likely to come across relating to employment; sales and marketing; intellectual property; contract law; and general laws affecting all businesses. With these words in your vocabulary, you’ll be better prepared to address legal matters as they arise.
When federal and state employment laws compete, state employment law almost always has supremacy. State laws normally extend upon federal employee protections and rights on issues such as drug testing, workers’ compensation and hiring practices. At the very least, make sure you know your state’s employment laws.
Here are five employment law terms you need to be familiar with:
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