Avoiding Liability: Issues For Your Business
One of the prime motivations of people who establish limited liability companies (LLCs) is to protect themselves personally while operating a business. At the same time, business owners and managers seek to prevent liability attacks on the business itself. Following are some of the main ways to protect yourself and your Dallas area business.
Starting up an LLC is a popular way to put some protection between you and the people who will do business with the new company or have contact with the business. However, it is not an ironclad shield of protection from personal liability.
To sue you personally, a plaintiff would have to prove that you were personally negligent. Naturally, this is not completely out of the question, even with the existence of the LLC. An umbrella policy on a business insurance policy can help you prepare to meet potential personal attacks head on in the event of a lawsuit.
Meanwhile, protect yourself from unexpected business organizational fiascoes through creation of a sound operating agreement.
Attorney Steven E. Clark is well-qualified to advise and guide you in selecting an insurance policy, selecting an operating agreement and, above all, keeping you informed of potential sources of liability in connection with interactions inside or outside the business.
Protect Your Business
As a co-owner or shareholder of an LLC or any other form of business, you may need reassurance that the personal finances of another co-owner or shareholder will not put the business at risk. The business also needs maximum protection from potential lawsuits. If you own or operate a business in health care, then you will need to take measures to comply with state and federal laws to protect your business. Consult with a business lawyer to learn the extent and limits of your company’s liabilities and ways to maximize protection of the business itself.
There Is No Substitute For Experience
Your particular personal vulnerabilities and business opportunities and liabilities are unique, as are potential liability threats inside and outside the business. An initial consultation with a lawyer at Clark Firm PLLC can be informative as well as productive in helping you discover and implement solutions that will put the law on your side while keeping your business secure enough to stay profitable and grow.