Women in business face enough hurdles as it is. Stepping on legal land mines shouldn’t be one of them.
Identifying potential flash points before they escalate lets you decide how much legal risk you want to take. It keeps problems small and inexpensive. It saves you time and money best spent on growing your business than defending it in court.
Use this 3-point minesweeping strategy to avoid lawsuits:
1. Review employment policies and make sure that your managers apply them fairly. Eighty percent of all business suits involve employment matters.
2. Read and negotiate contracts carefully. They are the number two source of business disputes.
3. Protect your market niche with intellectual property protections (i.e. patents, trademarks, copyright, and trade secrets). It will give you a competitive advantage.
For more information listen to my Business Week podcast.