In this article, you will learn what you need to do to avoid business lawsuits in Florida and, most importantly, why you should let me help you do so.
In Florida, no matter how well your business behaves, the possibility of being sued will always be there, so business owners should take steps to avoid business lawsuits, as litigation can have a severe impact on profits, regardless of who wins due to the high cost associated with it. When your business is involved in a lawsuit, you need to spend not only a lot of money on it, but also a lot of time and attention, which are two of your most valuable resources. Having to deal with a lawsuit forces business owners to focus on the lawsuits instead of their businesses.
So, how do you avoid business lawsuits in Florida? While there is no way to ensure your business never gets sued, there are several steps you can and should take to significantly reduce the risk of being sued. Here they are, broken down into five categories:
Employment and Labor
Lawsuits regarding wrongful termination and employment discrimination are probably the most common types of lawsuits filed against employers in Florida, so it is vital for business owners to:
- be familiar with employment laws;
- understand the relevant terms such as harassment, retaliation, and wrongful termination;
- work with human resources consultants;
- work with competent business lawyers;
- communicate with employees regularly and openly;
- establish a procedure for filing complaints; and
- create an employment discipline plan.
Unfortunately, intellectual property lawsuits are becoming more and more common, and fighting them is becoming more and more expensive, so make sure to:
- Protect your valuable intellectual property;
- Confirm that your intellectual property is actually yours; and
- Offer alternatives to litigation, such as licensing agreements, joint ventures, mediation, arbitration, or mini-trials.
Any agreements you make with other parties should be in writing, as contracts can provide a wide range of defenses in the event a lawsuit arises. Make sure to:
- add specific clauses to protect your interests;
- have an experienced business attorney review/draft your contracts;
- define your contractual obligations in detail; and
- have a “Pre-Suit Mediation” requirement in your contracts.
During business lawsuits, businesses can take huge financial hits, even if they win. To mitigate this financial impact, make sure to:
- legally separate your business and personal finances to avoid having to use your money or assets to cover business debts;
- have an experienced business lawyer create a solid asset protection strategy using all legal resources available; and
- with the help of your business lawyer, take advantage of asset exemptions.
To reduce the financial impact of potential business lawsuits, make sure to:
- purchase a business insurance policy;
- consider purchasing specialized liability insurance; and
- add an umbrella insurance policy, which typically covers settlements and judgments, medical bills, legal costs, and damage to other properties.
I Can Help You Avoid Business Lawsuits in Florida
As mentioned above, there is no way to ensure your business never gets sued; however, there are many ways to get as close to that as possible. The strategies above, although effective, can be tricky to execute and can do more harm than good if executed poorly. This is why working with an experienced business attorney is vital. I, Attorney Romy B. Jurado Esq., can help your business protected from lawsuits.