Quantum Lex

(952) 746-2400

Four Ways to Reduce Your Business’s Risk of Being Sued

Quantum Lex

You likely became a business owner because you had a product or service idea that you were passionate about selling, or because you were eager to challenge yourself and find a new, exciting way to make a profit and be your own boss. You probably didn’t become a business owner because you wanted to spend all your valuable time fighting off costly, reputation-damaging lawsuits.

At Neve Webb, we have extensive experience helping business clients handle lawsuits, as well as helping them avoid being sued in the first place. Read on to discover our tips for keeping your business lawsuit-free.

1. Use strong contracts.

When you’re doing business with a person or another company, you need to use strong contracts that say what you intend for them to say. You should fully understand the contents of any contract you sign or ask someone else to sign. Ambiguous contracts are extremely dangerous for business owners. An attorney can help you draft and/or review your contracts to ensure that they are appropriate. 

  1. Keep thorough and accurate records. 

You need to keep track of all your transactions, both with clients and with other businesses. Also keep track of contracts and when they are signed. It is also helpful to have good records of what is said in meetings. Having a paper trail that reflects your reasons for taking certain actions is incredibly beneficial.

  1. Speak and act ethically.

The most important way to avoid lawsuits, frankly, is to speak and act in a respectful, true-to-your-word, and above-board. When making public statements, consider whether or not your words could be interpreted in any questionable way. 

In addition to conducting yourself and your business ethically, you should try to make sure that those with whom you do business make the same efforts. 

  1. Insurance.

Unfortunately, lawsuits can happen even when there aren’t any shoddy business practices or big mistakes at play. Your business should, for this reason, obtain liability insurance in case something unexpected and unpredictable occurs. 

Who can help me protect my business?

Partnering with an experienced business attorney is a great way to protect your business. At Neve Webb, we can advise you before you act and review your contracts to help you avoid lawsuits. If a lawsuit does occur, we can help you navigate the process of defending yourself. For more information about our services, please give us a call at (952) 746-2400. We can’t wait to hear from you!

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Quantum Lex

Quantum Lex was founded to support entrepreneurs, innovators, and forward-thinkers with the business and legal considerations that allow their products and services to reach those who need them. At our core, we are driven to develop innovative legal solutions to allow your business to achieve its goals.