Friday, April 13, 2018

Top 5 Legal Tips to Help Protect Your Small Business

Your small business is important to you and your family. With any business, there are some legal risks you may face. Preparation and prevention can help to protect your small business from possible legal issues. With your business taking up most of your time, don't spend unnecessary time in the courtroom. Try to prevent potential legal issues with the right preparation for your small business. Below are some top legal tips to help protect your small business at the Lake of the Ozarks.

1) Document, Document, Document

EVERYTHING should be in writing when it comes to your business. Any activities - like hiring, firing, accounting information, and all internal discussions - should be documented in detail. This documentation can help to prove your side of a case, should you need it. It can also be helpful to keep this documentation well organized. This can save you time, should you need to locate and present your documents.

2) Equal Treatment of Employees

A number of small businesses lean on friends and family to help make their venture a success. Even though this is usually beneficial for both parties involved, it's important to keep your relationship professional. Complete all processes with friends and/or family members in the same regard you would a new employee. It's best to keep your business life professional and ensure your employees are on the same page. This can also make things easier to handle should the working relationship come to an end.

3) Present Clear Expectations

Ensure ALL of your employees and/or business partners are clear on your working relationship and all expectations required. Before you hire someone, be sure they know what the position requires and what you expect from them. Many new employees will realize the position is not for them after they have been hired. This can help to avoid a high turn around if you are upfront from the beginning of the hiring process. Hiring and firing require a lot of paperwork, therefore you can make it easier on yourself if you present the ins and outs of the position you are wishing to fill.

4) Guard Your Trade Secrets

Your intellectual property is what sets your business apart. It's important to safeguard your trademarks, copyrights, and other trade secrets. Ensure your intellectual property is properly protected. A new employee should sign a confidentiality agreement to help legally protect your business information.

5) Hire an Experienced Lawyer

There are a number of legal tips to help you protect your small business. Even with these precautions in place, a legal situation may still arise. An experienced lawyer can help represent your business when it is needed. Since you spend most of your time focusing on the ins and outs of your business, let our law firm help save you time!

Now that you've learned more about the ways you can protect your small business, you're ready to protect your venture. Our law firm at the Lake of the Ozarks can help you implement these legal protections that your business may need. While taking the above steps, Gibbons Law Firm can help prepare you to keep your business out of legal turmoil. Your initial consultation with our law firm is ALWAYS free! We look forward to helping to protect your small business venture at the Lake!

Remember, your initial consultation with Gibbons Law Firm is always free.

Your Trusted Legal Resource

Gibbons Law Firm
2820 Bagnell Dam Blvd, Suite B4
Lake Ozark, MO 65049
(573) 348-2211

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