Data compiled by the U.S. Chamber's Institute for Legal Reform shows that small businesses here in Wisconsin and elsewhere in the country spend as much as $100 billion annually on litigation. There are three primary reasons that companies end up getting sued. They're sued by an employee, a customer or another company. There are some steps that you and your company can take to avoid having a lawsuit filed against you.
Are you thinking about starting a business? Will you be hiring any employees? If you will be the only person working with the business, operating as a sole proprietorship is your best option. There are a handful of advantages of running a business using this legal model, and we will discuss them in today's post.
Taking charge of a business takes a lot of dedication and willpower. You will eventually run into problems with employees, vendors, contractors and customers. There's plenty of steps you can take to avoid many of the problems companies face. The first thing you need to do is write solid contracts. But, it's possible contract disputes can arise. Here are some tips for avoiding contract disputes.
Many media companies are struggling as they try to pivot from print publications to online ones to appeal to readers' changing habits. F W Media is one of those struggling companies.
One of the reasons that business owners take out liability insurance is to protect themselves from financial ruin if they get sued. These policies don't cover every potential concern, though. Even if they were to do so, damages are capped. While the likelihood that a company will be sued varies depending on the industry that they operate within, there are some common reasons that many businesses end up facing lawsuits.
Just like individuals swimming in debt may choose to file for bankruptcy as a way to alleviate their financial pressures, businesses often do the same. They may file for Chapter 7, 11 or 13 bankruptcy depending on how they're incorporated, the assets and debts they have and whether they're looking to remain in business.