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What legal steps can I take to protect my Ohio-based small business from liability claims?

Picture of Chris Battis By   ·  1 minute read

As an attorney, here are the legal steps you can take to protect your Ohio-based small business from liability claims:

  1. Form an LLC or corporation: Forming a limited liability company (LLC) or corporation can help protect your personal assets from being used to pay off business debts or legal judgments against your business. This is because an LLC or corporation is a separate legal entity from its owners.
  2. Obtain the appropriate insurance: Insurance is an important tool in protecting your business from liability claims. Obtain general liability insurance, professional liability insurance, and workers’ compensation insurance, depending on the nature of your business.
  3. Comply with regulations and laws: Ensure that your business complies with all relevant regulations, laws, and industry standards. This can help reduce the risk of liability claims.
  4. Draft and enforce contracts: Have well-drafted contracts that protect the interests of your business when dealing with vendors, customers, and other parties. Ensure that all parties fulfill their contractual obligations to avoid disputes.
  5. Protect your intellectual property: Obtain patents, trademarks, and copyrights to protect your intellectual property. This can help prevent others from using your ideas, inventions or brand without permission.
  6. Maintain accurate records: Keep clear and accurate financial and legal records of your business. This can help you defend against legal claims and also help with tax compliance.
  7. Consult with an attorney: If you’re unsure about what legal steps you should take or if your business is already facing a liability claim, consult with an attorney. They can provide legal advice specific to your situation and help you navigate potential legal issues.

It’s important to note that there may be limitations or exceptions to the above advice depending on the size and nature of your business. Additionally, specific circumstances may require additional legal action or protection. Always consult with an attorney for specific legal advice tailored to your business.