Types of Lawsuits Every Business Owner Should Look Out For

No business owner would want to be in the position of having to face a lawsuit regardless of whether the other party involves their employees, their customers, or other business owners. Because of this, many business owners ensure that they adhere to any standards set in their industry and deliver only top-notch products and services. However, there are unfortunate circumstances wherein, even with stringent measures in place, a lawsuit may still be filed against your business. Below are some of the most common lawsuits that you as a business owner should look out for.

Breach of Contract

One of the most common lawsuits that you as a business owner should look out for is breach of contract. This simply means that you have failed to deliver what is contained in the contract that you and the other party have agreed upon. Other business entities such as your suppliers or business partners may file these lawsuits, but there are also cases wherein customers or your employees are the ones behind this. (Check out breach of contract definition here)

Personal Injury Claims

Another typical lawsuit that a business owner should watch out for is personal injury claims. This may stem from a slip or a fall accident incurred by any individual in your business premises because of insufficient protection or warning indicators or hazards. The legal experts behind Blumenshine Law Group suggest that if you’re facing a personal injury case because of the hazards in your workplace, it’s important that you coordinate with your lawyers promptly. Better yet, make sure that you have the necessary insurance coverage in place because your policy will be able to cover your expenses in handling your case. You may also be at the other end of a personal injury claim should one of your employees driving your company vehicle be involved in an accident. In this case, the proper insurance coverage will save you from unnecessary expenses.

Discrimination or Harassment

There are also instances wherein a business owner may face a lawsuit because of discrimination or harassment. It can be discrimination against employees resulting in a wrongful termination because of age, race, or gender identity. It can also be discrimination against customers should a business refuse to offer its products or service to certain individuals because of the same reasons. On the other hand, bullying or sexual assault can fall under harassment.

In conclusion, breach of contract, as well as personal injury claims, together with discrimination or harassment, are only some of the most common lawsuits that business owners face. There are still others, such as intellectual property rights wherein another business entity may claim that you copied their business name, their logo, or any other trademark for which they have the rights to. The important thing to note is that you need to protect your business against these kinds of lawsuits by implementing exemplary standards and getting insurance coverage. In addition to this, make sure to coordinate with a legal expert who will be able to help you get through any lawsuit you have to face.

Written by Sasha Douglass.

Disclaimer: The content on this page is for information purposes only and does not constitute legal, tax, or accounting advice. If you have specific questions about any of these topics, seek the counsel of a licensed professional.