Keep Lawsuits Off Your Back

Posted on October 5, 2013 in Disputes

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The best way to handle a lawsuit is to avoid getting into one.  Rare is the small business that has the funds set aside to pay for the lawyers (and possible judgment) of a lost case–heck, these companies often can’t afford to pay their owners a regular salary!

So how do you keep lawsuits off your back?  Attorney and syndicated columnist Cliff Ennico has his top 5 tips, which include:

  1. Have a limited liability business entity.
  2. Get insurance and keep it updated.
  3. Disclaim legal liability in your contracts (but check with your attorney to make sure they’re worded properly).
  4. Transfer assets out of your own hands (mind the timing of this, though).
  5. Say “sayonara” to high risk customers.

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