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Lawsuit protection of your property may be carried out due to various reasons. Every day a majority of business owners are faced with many possible liabilities. The following professional and personal liabilities are some of the reasons why you should protect your assets:
Malpractice litigation involves any claim of the selling of a service or product that doesn't satisfy the need of the client. Moreover, the businessman might have directly claimed that it has the benefits that the client is looking for. Most businessmen assume that malpractice only exists in the medical or legal field, but it is also present in the business world.
In addition to this, it can also be tied to a faulty product claim. This involves the products that you are selling. You might be in the furniture making business and unfortunately one of the beds breaks before the warranty period is over and the client ends up hurting their back. This will automatically warrant a faulty product or a malpractice claim.
Employment discrimination claims are one of the most rampant claims. Such claims might come up even in the most subtle ways. You might be required to downsize some employees if your business is not performing well. Selecting some of them based on non-existent criteria might open a can of worms on your side.
Suggesting that a pregnant employee should probably take a rest early might be viewed as employment discrimination. In addition to this, not being able to employ people with a certain disability due to the nature of your business might also be viewed as discrimination.
The nature of your business might not be conducive to people of a certain gender or sexual inclination. Nevertheless, this may be viewed as a way of sidelining some people from employment. Therefore, it will automatically warrant as a basis for a discrimination claim.
Accidents are bound to occur in any kind of setting, whether within the business or even outside. However, as a business owner, you will be the one who is liable to pay for these kinds of incidences.
You might have outsourced company vehicles to your salespeople on the ground. Unfortunately, due to unavoidable circumstances, one of them might be involved in a hit and run accident or an accident with another vehicle. The company will be liable to pay for the claimant if your driver is found to be at fault. Automatically, the insurance company of the car or the pedestrian will expect you to pay for the compensation.
One of your employees might get injured during the course of duty. This will also warrant compensation from the company which is you.
In addition to this, a client might have come to your premise to purchase a product or a service. In the process, they might end up slipping on a wet floor that was being cleaned by one of your employees. Furthermore, the client might break either a hand or even a leg. Automatically, you will be liable to compensate this client.