A recent Inc. article authored by entrepreneur Kevin Daum brought to light one of the most prevalent questions asked by business owners: “How can I avoid being sued?”
Although it may seen counterintuitive at first glance, the job of a Creative Business Lawyer™ is to help clients avoid litigation, so one of the best (and least expensive) ways you can avoid being sued is to consult regularly with a business lawyer to ensure you are not doing something that can lead to costly litigation.
Other ways suggested by Daum to avoid lawsuits include:
Be prepared. Have a good basic understanding of the laws that pertain to your business and keep good records.
Be truthful. If you have made a mistake, admit it and settle. If you are right and can prove it, then stand by the truth and you will probably prevail.
Be vigilant. Be sure managers and supervisors are fully trained and appropriately skilled in dealing with employees and vendors. Their mistake can cost you.
Be strong. Litigators are by nature aggressive, but don’t let an aggressive opposing counsel bully you into not standing up for yourself. Take an active role in your defense (another money-saver) to help your lawyer defend you to the best of his or her ability.
If you’re a small or mid-size business owner, call us today to schedule your comprehensive LIFT™ (legal, insurance, financial and tax) Foundation Audit.