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What legal steps can I take to protect my business from liability in Ohio?

Picture of Chris Battis By   ·  1 minute read

As a lawyer, there are several legal steps that you can take to protect your Ohio business from liability. Here are a few:

  1. Incorporation: Incorporating your business can protect your personal assets from liability. It will also provide your business with a separate legal identity, making it easier to sue or be sued as a separate entity. Ohio offers several types of corporations, including C corporations, S corporations, and limited liability companies (LLCs). An attorney can help you choose the best option based on your business needs.
  2. Insurance: Obtaining liability insurance is another critical step in protecting your business from liability. Ohio law requires most businesses to carry workers' compensation insurance, and certain industries may require additional types of coverage. An insurance expert can help you determine the types of coverage that are right for your business to reduce the risk of liability.
  3. Compliance: Compliance with state and federal laws and regulations is essential and can be a significant factor in reducing liability exposure. Work closely with an attorney or expert to stay up-to-date on the laws that apply to your business, including employment law, environmental law, and tax regulations.
  4. Contractual Protections: Having well-drafted contracts that define your business relationship with other parties, such as suppliers, vendors, employees, and customers, can reduce the risk of liability. Typically, contracts will specify how disputes are to be resolved and address potential liability issues, such as the scope of indemnification and liability limitations.
  5. Intellectual Property Protection: Intellectual property (IP) protection can safeguard your business's trademark, copyrights, and patents from infringement by others. An attorney can help you conduct IP searches and registrations to limit the risk of liability for IP claims.

While taking these legal steps can help protect your business from liability, there may be other actions that you need to take based on the unique circumstances of your business. Consulting with an experienced attorney is crucial to ensure your business is adequately protected. Legal advice can be costly, but it is a wise investment to avoid potential liability in the long term.