Everyone reading this probably knows that you don’t always necessarily have to have malicious intent to be on the wrong side of the law. Sometimes, you don’t even have to do anything wrong to get in trouble. The same goes for business. You need to be proactive in protecting yourself. Otherwise, you’re going to end up on the chopping block, whether because of a misstep or a particularly opportunistic person.
Let’s start with one of the most common complaints from employees. Accidents do happen at work. Your worker’s compensation insurance should be enough to deal with it. But sometimes, an injured party may want more than that compensation. That’s why you need to keep them from happening as much as possible. Appoint health and safety officers. Invest in regular training. Address risks as part of scheduled safety inspections. Take care of your employees as best as possible.
There are two ways most people tend to look at employee disputes. It’s either a bad apple looking to get what they can from a business or the business is a bad bunch oppressing a person. It’s important to know that there are more shades than this. This is why you need to address potential employment problems in your business well in advance. Is the employment and termination process as professional as it can be? Do you have a code of conduct and HR department equipped to handle disputes? The more you can prove you do to ensure fair treatment, the better your chances.
Money is the source of so much trouble, why would it be a surprise that it’s a source of trouble in business too? Primarily, you need to worry about what you declare and pay. If you receive any money at all, you need to keep records of where you got it and where you spent it. You should also be considering speaking to Joe Callahan and other tax attorneys to make sure you’re paying what you owe.
Danger can come from outside the business, as well. Make no mistake about that. One of the ways big businesses like to bully smaller competitors is through the law. If you’re not protecting your branding, language or ideas, they can snap them up. So know how to safeguard them.
Your competition doesn’t necessarily come from existing entities. Sometimes they can come from your own business. An opportunistic employee may see the chance to build their own business off your resources. Or sell what they’ve learned from you to others. So you need legal help in drafting up restrictions that protect your business. Non-compete, nonsolicitation, and nondisclosure agreements for example. There are some who consider these agreements to be unfair to employees and their future careers. That’s a choice you have to consider yourself.
Danger can come from anywhere, as you’ve seen. From competition, new and old. From employees, new and old. Even from something as simple as an oversight with your money. Don’t let them hit your business. Stay savvy.
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