Insights, Ideas, Results
When small business owners suddenly suffer a severe personal injury due to the negligence of others, it is all too easy for the business they have worked so hard for to go under. But with the right legal representation and “quick pursuit” of your rightful compensation, that OPEN sign need never come down.
Sooner or later, almost every business is going to need legal representation, whether it’s to deal with a claim made against them by a customer or employee, or to aid with filing for bankruptcy, for example. Even if your business is running well now with no problems, it can be very dangerous to assume that it’s going to be like this for ever. Having a good lawyer at hand who you can immediately turn to if anything goes wrong can be a huge asset for your business and help you to avoid serious issues that could lead to disaster. But, with so many lawyers available, how can you choose the right one? We’ve listed some key steps to take when choosing a lawyer for your company.
Running afoul of the law can present a risk in business, especially for people with little or no legal training. The legal work required for even a single-member business can be difficult to undertake and keep current. We all know of a person or a business that has run into trouble because they knowingly or unknowingly violated some law or statute, perhaps even putting the public or their clients at substantial risk in the process. To help avoid some of the most glaring potential pitfalls, we have compiled a quick list of guidelines to follow from the early days of your business.
Do you have a situation in your life that requires you to obtain legal counsel? If so, you need to be sure that you hire a lawyer who has a very high level of skill. The quality of lawyers can vary greatly. That is why research is the key to finding the best legal representation available. You do not want to leave yourself vulnerable in court because you hired a lawyer who is disorganized and not prepared. Your case is too important to allow an incompetent lawyer to represent you. Here are some of the many benefits you will get when you have an experienced lawyer on your side.
Many frivolous lawsuits are brought to punish businesses. They have little legal merits and very little chance of being won but are good for tying up a business in legal matters – with the accompanying costs for defending the company – and can make it difficult for small businesses to continue operating.
Defending yourself from frivolous lawsuits can be time consuming and expensive, so the best way to protect your business is by avoiding the situation that prompts a lawsuit in the first place. Obviously, there will always be people who think they can game the system but there are steps that a business can take that will minimize the impact of a frivolous lawsuit whether it goes to court or is settled.
The gig economy has grown in leaps and bounds over the last few years, present new opportunities to a wide range of people. Unfortunately, the negative stories surrounding the mode of operations deployed by many employers have taken away some of the positives that can be linked to an increasingly gig based UK economy. Here are some ways to ensure you are not being exploited.
It’s quite common to offer employees a medical benefits plan, but more and more businesses are starting to look into offering a legal benefits plan for their employees to use, too. It doesn’t matter what size company you operate, and how many or little employees you have, a legal benefits plan can not only be a good thing for your employees, but it can be a huge incentive for staff to stay with your company.
Let’s look at what a legal benefits plan is, and what you should know before you make your decision.
There are many reasons to incorporate a business. It can offer tax advantages, give your business more credibility, and help you secure business credit. These are great benefits, but the main reason why many sole traders decide to incorporate is to protect their personal assets from creditors.
Operating as a sole trader is a risky affair. Creditors can chase you for outstanding debts and if you cannot pay, your home and personal assets are at risk. The situation is very different if you operate a limited company or corporation.
Drunk driving is a consequential crime in nearly every country. Across the United States, the Driving Under the Influence law doesn’t even require that you be intoxicated or drunk to be found culpable of DUI charges.
Instead, what the laws measure is your competency to operate a vehicle by establishing whether you are physically or mentally impaired to do so depending on whether you have exceeded the blood alcohol level limit. Today in all states across the US, the limit for blood alcohol is now .08%.
There are probably hundreds of questions that are running through your mind as you sort out the details for starting your new business. However, one of the most important, confusing and potentially costly questions could be what type of entity should you register as. What is the difference between forming an LLC vs. a corporation?
