When you own a small business, the last thing you want is to be served with a lawsuit. Unfortunately, being in business can come with the possibility of being sued. The good news is that there are steps you can take to minimize the risk of litigation. Here are 5 ways to avoid a Florida small business lawsuit:
1.Work with a Florida Small Business Attorney
The best way to help avoid a Florida small business lawsuit is by working with an experienced small business attorney throughout the life of your enterprise. If possible, you want to have the benefit of counsel at every stage of your business. Your lawyer can help you establish goals, identify risks, and take steps to protect your entity from potential issues. In addition, a Florida small business lawyer understands the issues this type of enterprise may encounter and knows what measures to take to help businesses stay out of the courtroom.
2. Get Agreements in Writing (Even When You Don’t Have To)
In Florida, not all agreements have to be in writing to be considered a contract. That being said, there are also some types of agreements that are required to be in writing to be valid and enforceable. It’s important to know when a contract must be in writing and to recognize the issues that can arise when parties try to rely on verbal promises.
When business agreements are made verbally, everything may go as planned. Then again, there may be unexpected problems that leave the parties in an uncertain position. When entering into a business agreement, it’s almost always going to be in your best interest to get everything in writing. Having the details and terms in writing gives everyone involved a central document to reference and rely upon throughout and after their transaction.
3. Do Your Due Diligence
Conducting business often means having to deal with unknown entities and parties. In addition, small businesses often need to procure property and operational space from others. Before entering into any small business-related agreements, it’s essential to do your due diligence. This means taking the time to learn about the businesses and individuals with whom you plan to conduct business. The more you can learn beforehand, the better you will be able to evaluate prospective business opportunities and avoid unforeseen conflicts.
4. Maintain the Right Type and Amount of Insurance
Insurance is an important part of operating a Florida small business. Additionally, it’s essential to know the right type of insurance to have and make certain your policies are for appropriate amounts. Investing in proper coverage can translate into having what you need to compensate someone who sustains an injury in connection with your enterprise. When an injured party’s damages can be addressed by insurance, it can help the parties settle their dispute without resorting to litigation.
5. Honor Your Commitments
In business, your word is your bond. Operating your Florida small business with integrity and honoring your commitments can help you foster client relationships and build a name for your enterprise within your industry.
Word gets around fast when it comes to business reputation. When you operate in a positive and honest manner, it can help you have less conflict in your business relationships. In addition, you can build the type of lasting connections that make it possible for parties to work through their differences without ending up in a Florida small business lawsuit.
Contact an Experienced Florida Business Lawyer
Attorney Richard Sierra at the Florida Small Business Legal Center assists clients like you with commercial leasing, business, and litigation matters. As always, Our Goal Is to Help You Succeed™. For an appointment, you may call us at 1-866-842-5202 or use the contact form on our website. We represent clients throughout the State of Florida, including Coral Springs, Coconut Creek, Boca Raton, Delray Beach, Pompano Beach, Sunrise, Fort Lauderdale, Miami, West Palm Beach, Jupiter, Deerfield Beach, Stuart, Port St. Lucie, Orlando, Naples, Fort Myers, Sarasota, Tampa, and surrounding communities.