As a Massachusetts small business owner, you have a lot of things on your plate. One that you may not have thought of yet is protecting yourself against a lawsuit. Unfortunately, most small business owners are under the assumption that only major corporations get sued. The reality is that companies of all sizes can be the subject of a claim.
Purchase liability insurance
One of the best ways that you can help protect your business from a big financial blow from a lawsuit is to have insurance. There are many different types of business insurance depending on the specific operations that you undertake on a daily basis. One type of insurance that will cover all businesses is referred to as general liability insurance.
Get to know a lawyer
The success of business litigation all depends on the legal representation that you have. It’s best to become acquainted with the lawyer early on in your business career to help establish an underlying relationship. The attorney should be able to get to know your business and operations. This will allow them to better construct legal aid when your business becomes sued.
Ensure you’re wage compliant
One of the best ways to avoid a lawsuit from an employee or former employee is to make sure that you’re following the laws regarding wages. It can be a good idea to speak to an attorney who is knowledgeable in this area to evaluate your current wage structure and make suggestions on how to ensure it’s legal.
As a small business owner, it’s important to protect your business from any sort of legal liability in the future. The above are just some of the many things that you can do to limit your risk of being sued by employees or customers. If you are facing a lawsuit, it’s always advisable to speak to an attorney.