Your startup is in business to make money. While you may want to protect your reputation and keep your customers happy by doing the right thing, you must also protect yourself from legal liability. It’s not uncommon for startups to get sued over their actions or products, even when they took them with good intentions.
Here are five reasons why your startup should consult with a personal injury attorney before making any decisions that could cost you a lot of money.
1. Understand Your Legal Rights
As you get your business up and running, there are many important details to take care of. One detail that’s often overlooked is consulting with a personal injury attorney. There are many potential risks associated with running a business, and if you’re unaware of your legal rights, you could open yourself up to liability.
For example, one of your employees is injured on the job. You could be sued for negligence if you’re unfamiliar with workers’ compensation laws. Or, let’s say somebody slips and falls in your store. If you don’t have adequate insurance coverage, you could be on the hook for thousands of dollars in medical bills.
A personal injury attorney can advise you on the best way to protect yourself and your business from these risks. If you want to know more about personal injury cases, here’s the best page to learn.
2. Get Personalized Attention and Care
When you’re running a startup, you have to wear a lot of hats. You’re the CEO, the CFO, the HR manager, and often the janitor, too. There’s no way to do everything yourself and still have time to grow your business. That’s why delegating whenever you can is so important. One area where you should consider bringing in outside help is when it comes to legal counseling.
A personal injury attorney can provide your startup with personalized attention and care that you wouldn’t be able to find at a large law firm. Your startup would be another case file among hundreds at a big law firm.
When you choose a personal injury lawyer, you will be their sole client. They’ll get to know your business inside and out, and they’ll be able to give you the individualized attention that you require.
3. Limit Liability and Settlement Costs
No one likes to think about the possibility of being sued, but it’s a reality that all businesses face. If your startup is sued for personal injury, the costs can be crippling. A successful personal injury lawsuit can result in damages that exceed your company’s insurance policy, legal fees, and lost productivity.
Therefore, you must consult a personal injury attorney before launching your business. Working with an experienced attorney can help you develop strategies, business plans, policies, and procedures to help limit your liability in an accident.
You can also ensure that your business funds are adequate to protect your assets in case of a lawsuit. Taking these steps will help reduce the cost of a potential lawsuit and give you peace of mind knowing that you’ve taken every precaution to protect your business.
4. Understand Insurance Coverage
If you’re starting a business, one of the first things you need to do is purchase insurance. But what kind of insurance do you need? And how much coverage should you get? Your attorney can review your business plan and identify areas where you might be at risk of liability.
For example, you’ll need product liability insurance if you plan on selling products. If you have employees, you’ll need workers’ compensation insurance. Once you know what coverage you need, your attorney can help determine how much to purchase.
Furthermore, an attorney can help you review your policy and ensure you have the right coverage for your business. They can also advise you on handling a personal injury claim if one is filed against you.
5. Get Court Representation When Needed
If you face a personal injury lawsuit, it’s essential to have an experienced attorney on your side. Your attorney can represent you in court and help you navigate the legal system. They can also help you negotiate with the other party and reach a fair settlement for both sides. An attorney can also help you if you need to file a counterclaim or cross-claim against the other party.
And if your case goes to trial, your attorney will be there to fight for you and protect your interests. Keep in mind that having an experienced legal team in your corner can make all the difference if you face a personal injury lawsuit.
Personal injury lawsuits are complex and expensive. But with the help of a personal injury attorney, you can protect your business and limit your liability. An attorney can help you understand your legal rights and obligations, review your insurance coverage, and represent you in court if necessary. Always remember that consulting with an attorney early on can save time, money, and stress in the long run.