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Legal & Identity Services

When you start a business you are going to encounter risk and liabilities.

Legal & Identity Services

When you start a business you are going to encounter risk and liabilities. How protected are you and your business? Are you putting your personal assets in jeopardy to start this venture? Do you have the right insurance protection? Do you have your legal team set up?

Here are some things to consider before starting your business:

  1. What type of entity will give you the best protection and tax advantages?
  2. Will you have partners or investors?
  3. Will you have an office, warehouse or is this a home-based business?
  4. If you have partners, do you have a buy and sell agreement set up?
  5. What if your partner or you die, how will the business continue running?
  6. Do you have a partner’s agreement?
  7. Do you need general liability and business insurance?
  8. Do you need professional insurance
  9. If you are driving your personal car, do you need added protection?
  10. If you have a home-based business, will your current insurance cover your business liability?

As you can see, you need to make sure you have all these questions answered and more. You need to make sure your insurance and legal is set up before investing and launching your new business.

A friend of mine was starting a new essential oil business. She had a partner and they first spent considerable about of money finding the farms to manufacture the plants needed for the oils. After they spent the money on finding the product, the marketing, and were getting ready to launch their business, that was the time they went to find insurance.

Because they were the manufacturer and would be bottling the essential oils, they found the insurance was astronomical and because they would be storing large containers of oils, they found they could not afford the required insurance to run their business. The cost of the insurance put them out of business before they had even started. They lost the money they spent on getting the business ready to launch.

It could have been as easy as making a phone call to me to see about risk management, insurance and having a legal team.

Don’t risk shutting your business down before you have even started. It is very simple, fill out the form today and let’s have a conversation. It will definitely save you time, money and heartache.