CHASE LAW NAVIGATOR

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OPERATIONS LEGAL ISSUES

Administration of a business is complicated and any number of issues can arise at any time. Knowing the risks and how to prepare for them is a good way to protect your business.

BUSINESS LICENSES

How can I find out what kind of business licences are required to conduct business?


A good place to start is at your local courthouse where you can obtain a license. However, the SBA has a small business resource tool which can be used to find resources on your area. Learn more here: https://www.entrepreneur.com/article/38882




What do I do if I have been operating without a business license?


A worse case scenario, a business caught without a license may be forced to stop their operations. This can even come with a probationary period that you must wait to expire before you may reopen. Some professions may even mean you will face criminal charges. Either way, to avoid fines or worse penalties, you should cease operations until you have a business license and probably consulted with an attorney or legal advisor in you field. Learn more here: https://smallbusiness.chron.com/can-happen-open-business-business-license-2461.html





CONFLICTS OF INTEREST

How can I find out what kind of business licences are required to conduct business?


A good place to start is at your local courthouse where you can obtain a license. However, the SBA has a small business resource tool which can be used to find resources on your area. Learn more here: https://www.entrepreneur.com/article/38882




What do I do if I have been operating without a business license?


A worse case scenario, a business caught without a license may be forced to stop their operations. This can even come with a probationary period that you must wait to expire before you may reopen. Some professions may even mean you will face criminal charges. Either way, to avoid fines or worse penalties, you should cease operations until you have a business license and probably consulted with an attorney or legal advisor in you field. Learn more here: https://smallbusiness.chron.com/can-happen-open-business-business-license-2461.html





LITIGATION/LIABILITY ISSUES

My business is being threatened by a party who says they are going to sue us. It is making it difficult for our company to plan and causing our investors to be worried. How can I stop this?


If someone is threatening to sue but not going through with it, you can either wait until they follow through or take action ahead of time. If the threat is disparaging or impeding your business from moving forward, you could also sue the threatening party for trade libel, or sue them to get a declaratory judgement from the court on the legality of the matter so that it can be put to rest. Once the court decides a matter of law in your case, the threatening party will be precluded from bringing it up in a subsequent proceeding and your investors can rest assured that the business is in the right. Learn more here: https://www.law.cornell.edu/wex/declaratory_judgment




How can I protect my business from liability?


Policies and practices can help protect your business from liability. Sometimes liability waivers (contracts) signed by your clients may be an option as well. But of course the best way to protect your business from liability is liability insurance! Learn more here: https://www.progressivecommercial.com/business-insurance/general-liability-insurance/




Is it better to settle or fight in court over an issue of liability?


A business owners number one concern should be running his or her business, not on winning or being right. This is a general statement, however, that doesn't answer the question at hand. Whether you settle or fight should not depend on your personal ego, but factors such as business reputation, the amount of money at stake, and the personality of the other parties will all need to be considered in deciding how to proceed on a matter of liability. Sometimes, even if you are not at fault, settling is the better way to go, assuming your business just needs to move on. Also, any settlement you pay should be accompanied by an agreement by the threatening party not to disparage your company and an agreement not to pursue your company in litigation in the future. Sometimes the value of taking the threat away without going through the hardships of trial is the most logical path forward. Learn more here: https://fusecfo.com/blog/business-lawsuit-fight-pay-settle/





RECORD KEEPING FOR THE PURPOSE OF AUDITING

How can I find out what kind of business licences are required to conduct business?


A good place to start is at your local courthouse where you can obtain a license. However, the SBA has a small business resource tool which can be used to find resources on your area. Learn more here: https://www.entrepreneur.com/article/38882




What do I do if I have been operating without a business license?


A worse case scenario, a business caught without a license may be forced to stop their operations. This can even come with a probationary period that you must wait to expire before you may reopen. Some professions may even mean you will face criminal charges. Either way, to avoid fines or worse penalties, you should cease operations until you have a business license and probably consulted with an attorney or legal advisor in you field. Learn more here: https://smallbusiness.chron.com/can-happen-open-business-business-license-2461.html





RISK MANAGEMENT

How can I mitigate bad reviews about my business?


Make sure your product or Services information is accurate. Decide to make the necessary changes for customer experience so they feel heard and respected. Maintain a transparent system of operation let the public know you are being honest with them. Learn more here: https://hbr.org/2020/05/5-principles-for-responding-to-customer-reviews




What is the best way to reduce the risk of my customers getting hurt as a result of my business?


Maintain high quality equipment and tools while also regularly inspecting products and the place of business for potential hazards. Make sure you post proper warning signs physically and on products. Learn more here: https://www.insureon.com/blog/ways-to-prevent-customer-injury-property-damage




How can I best protect my business from unavoidable business risk?


Adequate insurance coverage is important for any field. This along with proper legal advice from an experience attorney or legal advisor is also important so they can advice you specifically on your fields needs. Learn more here: https://www.investopedia.com/articles/personal-finance/072315/top-ways-manage-business-risks.asp





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