Do I Need Legal Advice When Starting a Supplement Company?
Supplements are dietary products. People take these products to ensure they get enough of the vitamins and minerals they need to stay healthy. Some of these products are made from natural sources, while others are synthesized. They come in various forms, including pills, capsules, liquids, and powders.
The supplement industry in the United States generated $31.7 billion in 2016 and is expected to be worth over $56 billion a year by 2024. High demand may entice you to enter this market. Starting a supplement company also offers an opportunity to provide beneficial health products to people, which is rewarding. No matter what’s motivating you to enter this field, you may be wondering if you need legal advice. Read on to explore how lawyers can help you launch your supplement business.
Attorneys provide expert legal resources.
Lawyers can specialize in several legal fields, including corporate law, labour law, human rights law, and complex litigation. Lawyers practicing in either the U.S. and Canada must earn a law degree from an accredited postsecondary institution and pass the bar exam to receive their law license.
Any business owner benefits from the legal services of a corporate attorney. These business lawyers ensure companies enter fair, legal business contracts. They review and draft legal documents. They may also negotiate contract terms on behalf of their clients. Any business owner preparing to form contract agreements with suppliers or distributors should seek counsel from a corporate attorney. Corporate attorneys also review laws and regulations. They advise business owners of the steps they need to take to comply with applicable laws and regulations, ensuring their company will receive required operating licenses and preventing the company from being fined for non-compliance.
Canadian companies can turn to noted corporate lawyer Malliha Wilson. Malliha has years of experience in the legal field. After earning her undergraduate degree from McGill University, Malliha attended law school at York University’s Osgoode Hall Law School. Since then, she’s presented arguments for notable cases before the Ontario Court of Appeal and the Supreme Court of Canada.
Businesses also benefit from consulting labor lawyers. In addition to her corporate law experience, Malliha Wilson also specializes in labour law. Labour law experts understand applicable labor laws companies must follow in their business practices. They also represent clients in labour law disputes. A labor lawyer can negotiate agreements with unions and negotiate settlements for lawsuits.
Supplement companies must comply with federal regulations.
Any company producing products such as food, pet food, tobacco, medical devices, drugs, and supplements must follow the United States Food and Drug Administration (FDA) regulations. All companies producing these health products must ensure their products are tested and proven safe before selling them. Product manufacturers must also ensure they label products per FDA regulations.
Canada also regulates this industry. The Natural and Non-prescription Health Products Directorate (NNHPD) issues licenses to product manufacturers and approves clinical trials. Like their U.S. counterparts, Canadian health product companies must demonstrate their products are safe and labeled correctly. Your corporate attorney will ensure your business complies with federal regulations.
Good partnerships ensure success.
With guidance from your attorney, you’re ready to enter an agreement with a supplements supplier. Reputable manufacturers comply with FDA or NNHPD regulations. Working with a manufacturer using state-of-the-art equipment and adhering to strict quality protocols ensures you’ll receive high-quality products you’re proud to sell. You can create products that are vegan, gluten-free, or certified organic. Expert manufacturers understand time is money, which is why they guarantee accurate price quotes within 48 hours and fast, consistent delivery.
Your corporate attorney can review the legal agreements and explain the contract terms when you’re ready to enter partnerships. Once you’ve had your attorney review the paperwork, you’re ready to enter a business relationship with your supplier.
Lawyers provide expert legal services for a range of clients. All business owners benefit from working with corporate and labor attorneys who provide expert insights into laws and regulations affecting their business practices.
