One solid tip is to create plenty of warning signs whenever you notice a hazard.
For many businesses, premise liability lawsuits are their worst possible nightmare. These lawsuits can quickly spiral out of control, leading to significant legal fees and even further losses if the plaintiff is awarded a substantial settlement. The question is simple: How do you prevent this from happening in the first place? And if the worst-case scenario comes true, then how do you protect your business and your assets?
You can start by getting in touch with a qualified attorney. But we know what you’re thinking: “Where can I find attorneys near me?” The answer is simple: there are many legal professionals in New Jersey who can assist you with this matter. In fact, a simple consultation can go a long way in helping you protect your business from future potential lawsuits. Remember, the cost of an attorney is nothing compared to the potential costs of a seven-figure premise liability lawsuit.
Create Plenty of Signs
One solid tip is to create plenty of warning signs whenever you notice a hazard. A simple sign can make all the difference, and it can protect you from liability. For example, a slippery floor sign can prevent people from suing you if they fall. Another example would be a sign that warns people not to go on the roof of a building, as this represents a fall hazard. As long as your business is clearly legible and located in the right place, it can provide excellent results.
Understand Your Responsibilities
You also need to understand your responsibilities as a property owner. For example, you need to know when you are expected to remove snow or ice from your property – and you need to know how quickly you should be doing this1. This is just one example of a responsibility held by a property owner. In order to understand the full range of your responsibilities, it makes sense to book a consultation with an attorney.
Establish an Asset Protection Trust
Another positive step is to establish an asset protection trust. But what is an asset protection trust, anyway? Essentially, this protects your business assets against creditors – including plaintiffs who are looking for a settlement. If you find yourself being sued for an injury on your property, your asset protection trust could essentially shield your company funds from being taken in order to pay the settlement award. In some cases, these asset protection trusts can deter people from even filing a lawsuit in the first place2. It can also lead to a much more favorable settlement negotiation.
Where Can I Find Attorneys Near Me?
If you’ve been looking for an Englewood personal injury attorney, look no further than Sadaka Law. Over the years, we have dealt with numerous personal injury lawsuits, and we know exactly when businesses are most vulnerable to these kinds of lawsuits. During your consultation, we can discuss concrete steps to protect your business against any potential issues, giving you peace of mind and the foundation from which to build a truly profitable enterprise. Reach out today.
Sources:
- https://www.nj.gov/oag/hts/ice-and-snow.html
- https://www.investopedia.com/terms/a/asset-protection-trust.asp
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