Failing to tie-up legal loose ends in your business could potentially cause others to take advantage of you or even file lawsuits against you. Here are just a few legal measures that you can take to fully protect your business from legal threats.
Create written contracts
When making any major agreement in business, it’s worth always signing a contract. This could stop employees, customers or suppliers taking advantage of you by giving clear evidence of the terms you both agreed to.
It’s worth hiring a legal writer to write up your contracts so that the information on them cannot be misconstrued.
Look into patents and trademarks
Patents and trademarks can help you to protect others stealing your ideas and claiming them as their own.
Patents allow you to claim ownership over an invention such as a design or a process, whilst trademarks can help you to claim ownership over your brand name and logo.
This beginners guide to brand protection offers more information on patents and trademarks. Specialized lawyers will be able to help you apply for a patent or a trademark.
Tighten up your health and safety
A lack of health and safety could lead to employees, customers and others getting injured. Even in cases where dangers may seem obvious, it’s important to still implement health and safety measures such as adding signage (some people may deliberately slip on a non-signposted wet floor just so that they can claim compensation).
Health and safety training meanwhile could be important for employees to prevent claims for long-term injuries (such as back injuries from lifting a box incorrectly).
Insure yourself
Business insurance can help to pay compensation if you are sued so that you don’t have to dig into your own pockets. There are lots of different types of business insurance – some are compulsory such as worker’s compensation insurance, whilst others are recommended such as public liability insurance.
You can sometimes take out business insurance packages that contain various types of insurance at a cheaper deal. This guide to which business insurance you need is worth reading.
Have a solicitor on call
It’s worth having a solicitor that you can call up in a legal emergency. If someone is filing a lawsuit against your business or threatening to file a lawsuit, a solicitor will be able to advise you on the best way of dealing with this claimant.
Solicitors can also answer any legal questions you may have and may be able to help with processes such as changing your business legal structure.
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