Running a business is challenging, and, to be successful, owners must pay attention to the smallest detail while keeping an eye on the bigger picture. Unfortunately, sometimes areas are overlooked, and a seemingly minor mistake can have serious repercussions. Below, the business law attorneys of Scott & Heenan, LLC, in Grant County, WI, share three of the more common missteps and how to guard against them.

Errors Businesses Should Guard Against

1. Inadequate Liability Protection

The proper protections must be in place for a business to be solid and solvent, especially in the face of a crisis or unexpected mishap. The best way to safeguard your organization is to choose the right structure—namely, a designation that will limit your liability. Filing as a limited liability corporation (LLC), for example, transfers responsibility from the owners to the company itself. This prevents creditors from coming after your personal assets and property if your business encounters financial hardships.

2. Faulty Contracts

No two businesses are exactly alike, and generic contracts will rarely suffice to cover your organization’s particular needs. They must be detailed, exhaustive, and tailored to account for all possible scenarios. Without professional, customized documents, the terms of your working relationships with clients, employees, and vendors could be unclear or uncertain—and problematic for your company.

3. Lacking Business Law Guidance

Any organization, regardless of size, will benefit from the services of an attorney. A professional well-versed in business law will ensure you navigate the legal aspects of your business with accuracy and confidence. Consider it an additional insurance policy: added peace of mind, so you can focus on the details of running and growing your company and ensuring it thrives.

Give your organization the legal support it needs and deserves. Since 1999, the business law attorneys at Scott & Heenan, LLC, have been representing companies throughout Grant County, providing quality legal counsel and guidance to ensure their comprehensive protection and security. Call (608) 348-9506 or visit them online to schedule an appointment today.