There are several steps you can take to protect your business from liability claims in Georgia:
- Incorporate your business – This creates a separate legal entity that can limit your personal liability. Incorporating also helps to protect your personal assets from being taken in a lawsuit against the business.
- Obtain insurance – Obtain general liability insurance to cover potential losses or damages that may arise from your day-to-day operations. Additionally, consider purchasing professional liability insurance if you provide professional services.
- Follow regulations – Ensure your business complies with all local, state, and federal regulations. Failure to comply with regulations can lead to hefty fines or even lawsuits.
- Draft clear contracts – Ensure that all contracts with customers, suppliers, and employees are clear and concise. Contracts should outline the terms and conditions of the agreement and should include provisions that limit your liability.
- Maintain good records – Keep detailed records of all business transactions, including financial records, contracts, and correspondence. Accurate records can help to support your position if there is a dispute.
Of course, there may be other steps you can take depending on the nature of your business. It is recommended that you seek advice from a licensed attorney to determine the best course of action for your particular situation.
By