Stay up-to-date on law changes and new regulations.
It isn’t enough to understand the laws and regulations that applied when you first opened your business. You need to stay current on these laws as they change over time. Hiring an experienced business attorney to update you on any changes relating to your business may save you time and protect you from a legal suit later on.
Invest in a good insurance plan.
Good insurance plans can help you pay legal fees and can even cover judgments if your company is held liable for a claim. Some plans to consider include workers’ compensation, product liability, and indemnity.
Separate your company’s revenue from your personal assets.
Doing so can protect your business in the case of a divorce or a workplace injury suit. You can legally establish your business as a separate entity by declaring it as an LLC, company, or non-profit.
|
Related links: |
