Can a business owner face personal liability for negligence?

Can a business owner face personal liability for negligence?

Anyone who has ever made a major purchase on credit, signed onto a mortgage or dealt with a service company knows what “breach of contract” is all about. If either party fails to live up to the terms and provisions of the contract (either in letter or spirit), the other party may seek restitution through the courts. Compensation may include more than just the dollar value of the financial losses, but may incorporate damages for future financial losses, legal fees,…

Can a business owner face personal liability for negligence?

Anyone who has ever made a major purchase on credit, signed onto a mortgage or dealt with a service company knows what “breach of contract” is all about. If either party fails to live up to the terms and provisions of the contract (either in letter or spirit), the other party may seek restitution through the courts. Compensation may include more than just the dollar value of the financial losses, but may incorporate damages for future financial losses, legal fees,…

Can dispute resolution clauses prevent employee litigation?

You want to ensure that your employees have what they need to do their job well, and you want them to be loyal to your Colorado business. You definitely don’t want disgruntled employees who will file frivolous lawsuits, wasting your time and money and putting your company’s good reputation at risk. Although you cannot keep everyone happy all the time, you can make it difficult for an employee to take you to court over an issue that you could have…

Ways for small business owners to reduce the risk of litigation

If you are a small business owner, you are not a stranger to taking risks. As a business owner, it’s imperative to take the appropriate steps to minimize the chance of something going wrong, such as avoiding costly, unexpected lawsuits Here are six things you can do to limit the possibility of lawsuit. 1. Consider getting insurance There is a wide variety of insurance options available to small business owners. Specifically regarding lawsuits, consider the Employment Practices Liability (EPL) Insurance. With a small…