"I was never ruined but twice; once when I lost a lawsuit and once when I won one." - Voltaire
Without a doubt, we live in a litigious world. A woman in the United Kingdom sued her divorce lawyer, saying he did not adequately warn her that the case would end with her being divorced. (The suit was thrown out.) Two hotels in San Diego sued the city because sea lions poop on the beach and the smell was driving away customers. (The case is pending.) People sue and get sued for all kinds of reasons,good and bad, so the odds are that your business will be involved in a lawsuit at some point. And for a small business, a lawsuit could be a death knell.
It is highly unlikely that a business can successfully avoid all lawsuits, but you can minimize the risk. In our experience representing business owners, we have developed a strategy that will help business owners reduce the risk of being sued.
- Have a partnership or shareholder agreement. A partnership agreement formalizes procedures to help business owners overcome a host of problems.
- Protect your trade secrets and your intellectual property and properly register your trademarks .
- Make sure the Terms and Conditions in your business contracts are legally binding.
- Get the right kinds of insurance. In addition to property insurance, which covers you in the event of a disaster, you may wish to consider business interruption insurance, which will cover the loss of income if your business in unable to operate for stated reasons.
Number 5 is the most important: Have a strong relationship with a trusted lawyer who is familiar with all of your business activities. At Bellas & Wachowski, we strive to help small businesses succeed and our clients, most of them start-ups, have benefited from our assistance. We have a proven record of success. Talk to us. We can help and we want your business to survive, and thrive.Check out our Website for some helpful tips on protecting your business.
