Updated: May 2, 2022
Individuals who manage corporations are vulnerable to a number of different types of lawsuits. An experienced Arizona business attorney can help make sure that you are aware of your legal rights and that you take the proper steps to minimize your liability when facing legal action. The following outlines just some of the steps that we recommend companies follow to avoid ending up in litigation.
Trademark Your Company’s Name
The mere existence of a company does not eliminate the possibility that another company will attempt to do business under the same name. The best way to protect yourself is to trademark your company’s name with the United States Patent and Trademark Office as soon as possible. An experienced corporate law attorney can help you navigate the trademark process and make sure that all the necessary paperwork is properly filed.
Do Not Wait To Act
In many corporate lawsuits, there are symptoms of a problem long before the legal action is formally initiated. While it can be tempting to ignore these problems and hope they will go away, this often does not work well. Instead, it is a much better idea to address these matters quickly.
Utilize Partnership Agreements
Unless a person runs a business as a sole proprietor, there is a good chance that he or she will already have some type of partnership (or shareholder) agreement in place. Properly written agreements are the best way to anticipate the various problems that can arise. Many companies decide to place agreements in these contracts that provide the right of first refusal as well as other clauses that help to decrease the risk of potential problems. An experienced corporate law attorney can help create agreements that protect a company and greatly decrease the risk of litigation.
Provide Appropriate Annual Training
Many companies are part of heavily regulated industries. In these situations, it is wise to provide frequent training to employees to make sure that they understand and follow the most current safety regulations. Doing this greatly helps to minimize liability in case an accident occurs. Workers also often need training to make sure that they do not engage in any discriminatory or harassing behavior.
Make Sure to Follow Employment Contracts
Lawsuits filed by workers are one of the most common that companies face. These lawsuits can include wage and hour violations, failure to give your workers the appropriate time off, and failure to provide a safe environment in which to work. By following Occupational Health and Safety Administration regulations as well as employment contracts, employers can greatly decrease the risk of ending up in this type of lawsuit.
Speak with an Experienced Corporate Lawyer Today
Addressing each of these areas will greatly help to make sure that your business is protected. An experienced corporate lawyer can help guide you through this process and make sure that all important matters are fully addressed. Contact the Monahan Law Firm, PLC today to speak with an experienced corporate law attorney.