If you are preparing to open a business in Texas, you might be concerned about how to avoid being accused of white-collar crime. While some famous cases have made national and global news, according to Northcentral University, as a small business owner, you may find yourself accused even if you did not intend to break the law. However, you can protect yourself by learning some of the most common examples of white-collar crime and how to avoid them.
Some types of white-collar crimes are usually committed in larger corporations, such as insider trading. If you own a limited liability company, some common examples you could be faced with include:
- Copyright infringement
- Theft of intellectual property
- Financial or corporate fraud
Some types of these crimes may be knowingly perpetrated by an employee, such as embezzlement of company funds, but others, such as copyright infringement, may be unintentional. For example, if you create and use a business logo that appears too similar to another company’s design, the owner or creator of that logo may sue you, even if you were not aware of the similarity. Business names usually also fall under this category.
If you are accused of white-collar crime, your business may be investigated by the Securities and Exchange Commission, an independent government agency that regulates and oversees business markets and securities to ensure they are fair and honest. Offering transparency during an inquiry can help ensure the proceedings go smoothly and offer a show of good faith to the SEC.
This information is provided to define some white-collar crimes and is not intended as legal advice.