Protecting your business from liabilities is as important as steering your business towards profitability. If you fail to take the right steps to protect your business during lawsuits, the legal implications can be serious and irreparable at times. Accomplished and dedicated corporate lawyers Calgary can help you protect your business from lawsuits. Here are a few steps to avoid litigations.
Document legal contracts
Irrespective of the size of your business, it is necessary to have an attorney who can draft your legal contracts with other companies and independent contractors. It is also good to have a detailed contract with your employees. Several companies fail to establish strong legal documents which increases the vulnerability to get sued.
Incorporate your business
If your business has not carried out a formation, it can work against you in the event of a lawsuit. Under litigations, businesses under sole proprietorship can face the highest risk as the proprietor is personally liable to fulfill the company’s liabilities. To consider if you must separate your business identity from yourself, it is good to talk to a business attorney.
Find the right insurance plans for your business
Only during lawsuits most businesses understand the importance of suitable insurance coverage. Getting insured will help you cover the legal fees you will incur in addition to all the liability costs connected to the lawsuit. Some insurance policies protect the companies against employee lawsuits filed by employees, consumers or clients.
Contract experienced attorney
To avoid business litigations, it is good to have the assistance of experienced legal attorneys. A good attorney can advise you on the preventive measures that can help avoid lawsuits. While contracting the attorney, it is good to finalize one who is very well familiar with the local laws and business scenario. Those who solely focus on business litigation can be of immense help to you.
Establish your company policies and procedures
You must seriously consider drafting the company policies and procedures that can help prevent lawsuits. Company policies will let your firm assert its intellectual property rights and other copy rights and trademarks. It can also instruct your staff on protecting the company’s legal properties and assets. Employee handbook can be a useful document to help employees learn the policies and conduct in compliance with those policies and guidelines.
Maintain a detailed record of documents
It is important for your business to keep an accurate record of the time and date on which the agreements are signed and when certain issues were discussed in the meetings. Record all the communications, emails, phone calls and transactions made. Ensure to maintain the service records in a perfect manner.
The importance of experienced corporate lawyers Calgary
The importance of having the assistance of corporate lawyers Calgary on your side cannot be overstated. Nothing is predictable in life and you will not know when something will go wrong. Accomplished corporate lawyers can prepare you to avoid litigations and in the unavoidable situations forcing litigations on you, they will stand by your side to minimize the damage and land on a viable resolution.