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Business Liabilities

An employer or management is always at risk to be sued by an employee or customer, or subject to an action by federal or state agencies against unlawful practices. Even simple allegations can result in costly litigation and defense. To prevent expensive legal defense, employers should make policies and enforcement mechanisms to curtail the cost and prevent allegations of unlawful activity and a business liability law suit. Some basic areas where an employer needs to make proper protocols and requires proper review by counsel include:

  • Establishing proper policy against employer or management harassment
  • Tax advice.
  • Ensuring employee forms are in compliance.
  • Ensuring employees and managers have completed employment law training including organization’s policy against harassment.
  • Accurate and valid contracts.
  • Control of employee’s behavior.
  • Hiring of employees and basic requirements specific to employees jobs.
  • Ensuring contract and job specifications in a contract.
  • Implementing employee evaluations, terminating employment, and handling accommodations for disabled employees.
  • Appropriate agency compliances are in place and up to date and they have been reviewed by counsel for compliance with the laws in those jurisdictions where you conduct business
  • Business liability insurance

If you are buying or selling a business, there are several obligations, disclosures, compliance orders from state and federal regulatory authorities, and commitment letters that need to be undertaken. There are business liabilities for those purchasing a business. Any purchaser of all or substantially all of a business or stock of goods of a business is liable for the seller’s tax liability. The purchaser is not relieved from such liability unless the purchaser receives from a seller a receipt from the director of the department of revenue showing that the taxes are paid. Other issues arise when a seller remains in possession of a business or continues to remain a stakeholder in a selling corporation. You can consult with us if you are in the process of purchasing a business.