1) The primary legal steps you can take to protect your business from potential lawsuits include:
- Having the appropriate insurance coverage in place. Depending on the nature of your business and specific risks, you may want to consider malpractice or liability insurance policies that would provide protection for any claims relating to negligence or other civil wrongs by your company.
- Carefully drafting contracts with customers, vendors, suppliers, etc., which clearly outline expectations and liabilities so everyone is aware of their rights and responsibilities in a given relationship. These documents should also include provisions outlining dispute resolution processes if something goes awry down the line.
- Developing internal policies such as a code of conduct that outlines acceptable behavior by employees and protects the company against wrongful actions taken by its staff members; this may be especially important if those actions could lead to third-party claims against your company.
- Understanding relevant labor laws related to hiring practices, wages/salaries, benefits packages, firing procedures, etc., so your employment decisions will not inadvertently open up opportunities for legal action against yourself or your firm.
- Making sure all advertising materials are accurate and do not contain false information which can lead to deceptive trade practice suits being filed against you or your business.
These steps should serve as an initial starting point when it comes to protecting yourself from potential lawsuits; however there may be additional specific measures required depending on the type of business you own and industry regulations applicable in that particular sector where further research may need to be done prior taking any definitive action on these topics.
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