Top Ten Legal Landmines Facing Business Owners
Business owners face a myriad of issues from what type of business entity is best suited for their needs to planning for retirement. During the last sixty years our firm has assisted our business clients in successfully navigate through the potential legal landmines that face all business owners. We believe that proactive consultation with an experienced business attorney is imperative in limiting a business’s liability and avoid unnecessary and protracted litigation. We have compiled a list of the Top 10 Legal Landmines Facing Business Owners:
- Corporate FormationIs a LLC or partnership best for my business? Do I have to issue stock? I am personally liable if something happens with my business.
- Buying/Leasing Office SpaceEnsure that when you buy or lease office space your needs and intentions are being fully met. If you are leasing/selling office space, make sure your contracts provide you the utmost protection.
- Policy & Procedure ManualsHave you provided your employees with a Policy & Procedure Manual that outlines your businesses expectations and provided employees a clear process to follow in case of a complaint?
- Employment and Severance AgreementsDo your employment agreements clearly define whether the employee is an independent contract or not? Do you have an enforceable non-compete, non-disclosure and confidentiality agreement?
- Invoices and CollectionsDo your invoices contain an attorney’s fees provision should you have to retain an attorney for collection activities?
- GarnishmentsDid you receive garnishment paperwork regarding an employee? Did you know if you fail to timely respond to this paperwork you may be held liable for their judgment?
- Credit Card Authorization FormsIf you are accepting credit cards, are you using a credit card authorization form?
- Human ResourcesDo you know the safe haven provisions when hiring an employee to protect you from a Negligent Hiring lawsuit?
- Discrimination/Harassment ClaimsHave you protected yourself from discrimination and harassment claims?
- OvertimeIf you are not paying overtime to all eligible employees, you may responsible for up to three times their unpaid wages and their attorney’s fees. It is our experience that the Department of Labor is aggressively targeting business in the service industry.
