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Common lawsuits involving small businesses

As an entrepreneur, you may spend much of your time figuring out the best ways to make your business productive and profitable. A large part of that is eliminating ways your company loses money unnecessarily. This may include reducing expenses, monitoring shrinkage and minimizing your overhead.

However, there is one factor that could result in a significant loss of your profits, and that is through lawsuits. As smoothly and efficiently as you run your business, failing to protect yourself from wasteful litigation can hurt your bottom line and even jeopardize the future of your business.

Protect your livelihood

Lawsuits are not limited to big corporations, and many big companies can survive even after spending 2 percent or more of their annual revenue on legal fees to fight lawsuits. Even if you and your employees are diligent about avoiding liability, you cannot always predict when someone will decide to take you to court. Cases of businesses facing litigation seem to be on the rise, and your business may benefit from being aware of the most common and damaging lawsuits businesses like yours face, including:

  • Contract disputes: Since contracts are the backbone of business, you are likely party to numerous contracts at once, with employees, vendors and clients.
  • Employment law: You may be hearing of more frequent litigation involving harassment and discrimination, but you may also face lawsuits for illegal hiring practices or wrongful termination if you are unfamiliar with Kentucky laws.
  • Fraudulent claims: Customers who feel you are deliberately misleading them may take you to court for compensation.
  • Intellectual property theft: Even an unintentional use of copyrighted material, such as a logo, image or other protected item, may leave you defending yourself against charges of plagiarism or copyright infringement.

One of the first lines of defense against these possibilities is to remain scrupulous in the things you communicate and the manner in which you present them. Your written or verbal words may have profound impact on your small business, and vigilant control over these elements can avoid confusion and potential legal action.

Another way in which many businesses have preempted lawsuits is by having comprehensive legal support from the early stages of planning and implementing a business plan. An attorney who is familiar with your business can assist you in creating contracts and employment policies that may reduce your risk of litigation. In the event of a lawsuit, such an attorney would be at the ready to defend your business and keep you on track for success.

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Gatlin Voelker,PLLC

Gatlin Voelker, PLLC
2500 Chamber Center Dr. Ste. 203
Fort Mitchell, KY 41017

Phone: 859-781-9100
Fax: 888-456-9179
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Call : 859-781-9100