As a Missouri business owner, you know that sometimes litigation is unavoidable and necessary for your business. However, you also know that litigation can be stressful and take your attention away from other business activities. You want to do everything you can to keep your business running smoothly, including avoiding lawsuits.
Three Tips for Preventing Business Litigation
Long before any threat of litigation, you can begin protecting your business from potential lawsuits by:
- Keeping good records. Complete records can help establish what happened if a dispute arises. Everything from company rules and procedures to transactions and financial accounts should be well documented. An attorney can advise you on exactly what records to keep and what should be included in each type of document.
- Drafting enforceable contracts. Vague or unenforceable contracts may leave your business vulnerable to litigation. A well-drafted contract can prevent disputes and make any disputes that do arise easier to resolve. Your lawyer can draft and review proposed contracts to ensure that they are enforceable and meet your business goals.
- Staying up-to-date on laws and regulations. As a business owner, you must comply with all applicable local, state, and federal laws and regulations. However, you can only comply with laws and regulations if you know what they are. An experienced business lawyer can advise on the laws that are relevant to your business.
Additionally, you can protect your finances if litigation does occur by purchasing the right insurance, establishing the right business structure, and separating your personal and business finances.
Give Your Business a Strong Legal Foundation with Our Business Law Attorneys
Quality legal representation is an investment in the future of your business. The team at Layton & Southard serves business owners throughout Southeast Missouri and Southern Illinois from our Cape Girardeau and Perryville offices. Please contact us online or call our Cape Girardeau office directly at 573.335.3359 to schedule your initial consultation.