Risk in business is inevitable. A well-planned business includes the protection of assets from lawsuits or claims by third parties. Olson & Olson, PLC is experienced in helping businesses formulate business plans that can protect assets in the event of a tragedy. A discussion of the manner by which assets are owned, loans are undertaken, and the business is structured, along with the application of worker’s compensation, can limit the liability of owners, and protect assets, in the event of an unexpected difficulty or disaster.
The law provides specific business vehicles that individuals can use to protect themselves from the negligent acts of employees, or even non-employees, in their business. In the event of claims against the business, assets can be legally structured in such a way, as the owners maintain ownership of the property, without exposing the assets to potential collection liability.
The excitement associated with the new business is just one part of the business plan. Proper planning for the future, and planning with regards to risk assessment are vital.