Business owners in the modern world carry more liability than ever in their day-to-day operations. You never know when a disgruntled customer, employee (former or current) or associate will pursue litigation over even the tiniest perceived slight.
Anticipating (and planning for) the possibility of litigation is something many business owners avoid. However, it serves your and your company’s best interests to do so.
Get yourself and your staff thinking in the right direction by implementing the litigation protection strategies below.
Delve into employment law
Reducing the risk of employment-related litigation requires a working knowledge of applicable federal and state laws. For example, understanding occupational discrimination and harassment regulations is critical in preventing worker-initiated litigation. Learning about the current Texas wage and hour statutes can also minimize employment litigation.
Develop your knowledge of contract law
The first thing to know is that the era of handshake deals has faded far into the past where it belongs. To ensure protection from breach of contract and other lawsuits, put all your business agreements in writing. Remember, the language and wording of your contracts are vital in enhancing your protection.
Don’t be afraid to fight for your best interests
Many lawsuits targeting businesses are frivolous and have little chance of success. However, the other party and their representation may be counting on your fear of litigation to win a quick cash settlement. With guidance from a skilled litigator, you can defend your business (and bottom line) when you want to stand up for your company.
Seeking additional knowledge about the legal side of owning a Texas business can strengthen the protections you already have.