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Five Most Common Lawsuits

The risk of a lawsuit can be greatly mitigated with appropriate insurance. The type and amount of the insurance should be based on the type of business that is being operated. Businesses that are engaged in hazardous activities or whose premises are open to the general public are at greater risk. The business owners are further protected if the business is incorporated and they employ other asset protection strategies.

Generally, the statutory act violations referred to in the article are fairly easy for small businesses to avoid. If the business management has a basic understanding of what is prohibited and the employees treat others in a reasonably professional manner, there is little exposure. Lastly, having a well crafted contract that is tailored to the specific operations of the business will go a long way towards protecting against any breach of contract claim.

See original article: https://www.thebalance.com/five-most-common-lawsuits-3886658

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