Protecting Your Business From A Lawsuit 

You might think that your business is not very likely to be sued, think again, it happens to businesses everyday. At the last count, there were more than 70,000 civil lawsuits filed each day in the United States and most of them target small businesses and individuals. One easy way to protect yourself is with an insurance policy commonly known as an umbrella policy which provides coverage above your primary insurance limits. Umbrella insurance starts where the underlying general liability insurance limits are exceeded. Here are some additional steps that you can take: 

1. taking the proper legal steps to make your business unattractive to those who may with to sue;
2. utilizing prenuptial agreements before marriage, especially if one future spouse has substantially more money than the other;
3. shifting assets out of your name by using Family Limited Partnerships or Limited Liability Companies;
4. businesses that use employees should consider binding arbitration and alternative dispute resolution agreements with each member of their staff;
5. disclosing and warning customers of potential dangerous situations can also make it harder for a lawsuit to succeed.

Remember, as a member of the General Counsel Club, you would be entitled to give me a call about any business or legal problem you would like to discuss. I want to be of service to help you succeed. Plan your work and work your plan.

Sincerely,

Larry Spiegel, Esq.