Client Alert

Common lawsuits that might threaten your business assets

Let’s face it, lawsuits have become incredibly common. New lawsuits pop up every day. Some are justified, and some are frivolous. But even the most frivolous lawsuit can cause businesses major time, effort and money–not to mention being a major headache.

Even the savviest businesspeople face losing their assets to a lawsuit. In our increasingly litigious society, a lawsuit for the smallest issue could be just around the corner. These are some of the common lawsuits that threaten business assets.

  • Sexual harassment

Sexual harassment allegations have rocked nearly every industry in the country. High-profile companies and individuals in politics, sports, entertainment and business have been taken to court over sexual harassment claims. These lawsuits have also resulted in millions of dollars in settlements and damages–and that could be the nail in the coffin for some companies.

  • Employment discrimination

Many businesses have also faced workplace discrimination lawsuits. Employees may be motivated to file employment discrimination lawsuits for legitimate reasons like an employer violating the standards set forth by the Equal Opportunity Employment Commission. They may also sue over perceived discrimination, resulting in costly litigation.

  • Workers’ compensation

Employers have an obligation to provide safe workplace conditions that comply with the Occupational Safety and Health Administration’s regulations. If a worker is injured on the job, they are often entitled to workers’ compensation. If an employee’s workers’ compensation claim is not handled to their satisfaction, they may file a lawsuit.

Protecting business assets from lawsuits

If your company is ever sued and the court requires you to pay damages, your assets could take a major hit. Even a lawsuit over a seemingly-minor issue can put your business assets at risk. Ensuring a business’ success requires handling assets intelligently and doing everything possible to protect them. There are many legal options for protecting business assets. Taking advantage of these options can give business owners much-needed peace of mind that their assets are safe.

Posted in Asset Protection, Client Alert.