The US is often referred to as the land of opportunity where anyone with the drive has the opportunity to succeed in business. While that may still be true, anyone desiring to take advantage of the US markets will also face numerous laws and regulations, which may create significant hurdles and obstacles to a smooth entry into US markets. A careful approach to doing business in the US will increase the likelihood of success.

Federal Laws and Regulations

Federal law derives from the US Constitution and from statutes enacted by the US Congress and approved by the President. It usually applies everywhere in the US, and it usually prevails over conflicting state or local law (but federal and state laws governing the same subject often coexist without conflict, and in those cases both laws may apply). Most federal statutes are administered by one or more administrative agencies, which often have authority to adopt regulations interpreting, implementing and even expanding on the underlying statutes. Examples of federal administrative agencies include the Securities and Exchange Commission (which regulates the public securities market), the Internal Revenue Service (which regulates the federal tax laws), the Environmental Protection Agency (which administers the federal environmental laws) and the Federal Trade Commission (which is responsible for a variety of trade related statutes).