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I have a friend of mine who wants to start his new business as a broker for real estate deals. Is this mandatory for him to know all the current laws and rules of government before registration of his business?Or its possible to get registered first and then go through the laws.
Hello Beaudoin,
For anybody who wants to start a business venture, it is esential to have thorough knowledge of the profession and usual procedures of the activity that is going to be started as he/she will later be held responsible for any mistake or negligence that is made while providing the service. The fact of not being well informed on the laws and regulations related to the business does not avoid that you have to comply with them and therefore, breach of the same will have consequences for you friend and for his/her business.
If your friend has no knowledge of the regulations that need to be observed, it is highly advisable to hire the services of a lawyer that makes sure that all is in order and that the business is legally conducted. Nevertheless, it will be him/her the one that values the risks to be run when accepting to offer a service for a type of business of which he/she has little knowledge.
Regards,