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Manage your legal risk — small business tips

02-26-2020

You know that saying, “ignorance is bliss”? Well, when it comes to the law, it’s definitely a bad idea for a small business owner. An unexpected legal dispute can be enough to sink a small company. 

If you’re thinking of starting up a new business — or expanding an existing one — it’s best to be prepared. And that means being aware of the legal risks, so you can avoid them before they cause trouble. 

Legal risk management

Choose the wrong ownership structure, for example, and you might end up being personally liable for debts your business runs up. 

Get caught without the right licenses and you won’t just face fines – you risk your business being shut down.

Fail to get a watertight contract and you could find it doesn’t hold up when it matters most: in court. 

Legal cheat sheet

To help you manage your legal risk, we’ve created a cheat sheet. Drawn from our Big Guide to Small Business Risk, it’s a handy heads-up on business structure basics, licensing law, and contract dos and don’ts. 

Feel free to download it. Because when it comes to the law, it’s better to know the truth, the whole truth…(ok, you get the point!)

Click the image to download:

What are the main types of legal risk?

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