You are an offline and online business owner; your website and blog generates business for your physical location on Main Street. According to Tom Donahue, president and CEO of the U.S. Chamber of Commerce, as one of 26 million Americans you are the core of this nation's workforce. Businesses such as yours employ just under 100 percent of all of the employers in the U.S.
For several years now you have struggled through the current economic depression; your doors are still open. You are passionate about your business; who you are; what you do; what you bring to your customers: Plumber, architect, painter, landscaper, owner of a boutique. Internet business consultant, social media strategist, multi-level network marketer, direct sale distributor, you are the expert in your field.
As you prepare for 2011 your thoughts focus on all of the various protections you have set up for yourself, your family and your home. As a working-class citizen, just what type of insurance coverage do you have. You review your current list:
Life, health, home-owners, and auto insurance; these are the main types of coverage most people have. If you rent an apartment, you may have renter's insurance. As you sit in your living room and look around, you may also have warranties on your large kitchen and household appliances; your furniture; TV, camcorder, computer, game system, cell phone, and a few other electronic devices you may own.
As a private business owner, you are concerned about your expenses, services or merchandise, income, and taxes. In these difficult economic times, where do you gain the necessary capital to continue to operate and be successful? Then there is the risk management of your goods and/or services; you want to guard against the risk of a contingent and uncertain loss.
You do it all, but there's always more to do, always. It can be overwhelming, and it can distract you from the business of running your business. As a self-employed business owner, who handles the legal aspect of your business? If it's you, do you know how? Do you know what's available to you? Do you know what questions to ask?
As a customer, who do you call when your new washing machine quits and the manufacturer refuses to cooperate? What do you do when your jeweler sells you defective merchandise and the owner refuses a refund. What do you do if you slip on a wet floor in the store, are injured but the owner refuses liability?
Some of us may call on a relative or a friend who happens to be an attorney. That may work well, for that particular attorney's expertise. In doing business and providing goods and services, for any breach of contract or violations you may encounter, coverage is necessary because it provides legal protection against lawsuits, and gives you access to legal services for your own questions at minimum cost.
If you give a speech or a webinar online and accept customers for your business, other than a "money-back guarantee" for services rendered, what other protections do you have in the event you encounter a dissatisfied customer? These are questions your attorney relative/friend may not be able to answer.
The majority of your business transactions involve contracts. If you are an owner of a small restaurant you have to negotiate through many contracts; from renting the space; liability insurance, merchandise, phone service, city ordinances, state licenses and laws, physical business security; this lists goes on. If you were an online business owner you are also negotiating contracts. Domain name registration and legal issues with domain names; web hosting agreements; affiliate contracts; privacy agreements; service protection; copyrights and copyright infringements; trademarks and trade names; consumer rights protection; this list will go on and on. As business owners we constantly need quick access to legal advice and a law firm that can provide quick legal advice.
You may already have retained a tax attorney, a CPA, business investors or partners, and advertisers; all of which can be destroyed with a lawsuit. What if your insurance company is doing you an injustice, where would you go? What if your business partners are stealing from you, who would you contact?
When obtaining insurance for yourself, your family, your home and your possessions, preventive legal protection for your business can provide you consultations on an unlimited number of business questions, topics, and situations. A law firm can provide you with attorneys that are specialists in your particular industry.
As a private business owner a law firm can help your business gain a competitive edge for that larger contract that you feel you are qualified for, but may not know how to obtain.
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