When you're just starting your business, it's easy to lose sight of just how many potential risks your company faces. Yet a single accident or lawsuit can wipe out your company before it even can get off the ground. While setting up a business entity like an LLC or corporation can protect your personal assets from liabilities incurred by your business, it won't protect your business assets—that's where business insurance comes in.
Trademarks give the business its identity. They literally “mark" everything related to the business from its products, letterheads, processes, facilities, and more. But with company logos and taglines flooding the Internet for marketing, it is very easy for a trademark to fall into the wrong hands. At first, it may cause only confusion for your customers but it might bring a pile of expensive lawsuits later. Protect your business now by developing relevant and updated trademark strategies.
2020 has set unprecedented variables in business with the advent of COVID-19. You will never know what could go wrong at any given moment. It is possible for your business to be completely swept away by the pandemic without means of protection. One of these means is having comprehensive insurance coverage. This can cover almost anything from properties, professional services, computer systems, business and employment practices and more.
Whether your business is big or small, it will eventually face some problems that can cost you a significant sum if you do not have the right insurance in place. In order to protect yourself, you need to know the type of risks your business may face so that you can find the best insurance policy that will cover those risks. Check out these common types of insurance that every business should have, and see how they can significantly help your business.