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As asset protection advisors, we sometimes find that professionals and small-business owners tend to underestimate their potential for getting sued. For instance, it’s common to come across a woman who runs a home-based baby clothes business who thinks she is not really at risk of being sued. It’s a fallacy to think this way. If you own, operate or run a small business, hire employees, enter into contracts, and make sales, you may be the target of a lawsuit.business owner protection

Risk of Being a Lawsuit Target

There may be any number of lawsuits that could target you. For instance, any small business owner can be the target of discrimination lawsuits, employment lawsuits, lawsuits by creditors, and lawsuits by clients, suppliers and vendors.

Most plaintiffs’ attorneys work on a contingency fee basis. That means that they won’t take on a case until they know that it’s worth their time, resources and effort to win the case. Once an attorney learns about a complaint, he will conduct a check on you to look at the kind of assets that you have available. If the attorney finds out that your assets have been protected, it doesn’t give him an incentive to move forward. In fact, almost 99% of all lawsuits are dropped when the plaintiff’s attorney finds that recovering any damages will be next to impossible.

The bottom line is that no matter how small your business, and how safe you feel from legal action, you can always be proved wrong with devastating consequences for you. If you are a small-business owner whose business is beginning to pick up, know that lawsuits may not be far away.

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Pashmina Lalchandani

CEO & Co-Founder, Bar & Cocoa / Owner, Flow Simple
December 9, 2010, Douglass was a client of Pashmina’s

I’ve known Doug in many contexts, as a friend, as a client and as a business partner and he impresses me on all levels. He’s dependable, smart, generous and I wouldn’t hesitate recommending him and his law firm to anyone.
He’s the best and most ethical lawyers providing asset protection with rock solid strategies to give you peace of mind about your wealth. Straight forward, and straight talk. Doug is exactly the lawyer I want on my side. If I send someone to Doug, I know they’ll thank me for it!

Social & Solar Entrepreneur, Pan Afrikan Theorist, Translator/Interpreter,
Founder & Visionary Leader @ Afrikanpride.
March 12, 2011, Marlon E. D. J. worked with Douglass but at different companies

Doug is one of the most powerful thinker i have came across. During the short time that i have known Doug he has been a great source of inspiration. He has a simplistic yet effective and accurate way to analyze anything you bring to his attention, and then by asking you key questions he gets you to see the light at the end of the tunnel. Besides being extremely bright, he is a genuine and caring individual which is why I feel fortunate to know him. I can say without a doubt that he his the person you would want to talk to if you were in need of a person with his expertise.
Most of the lawyers out there will probably meet your needs, but if you are looking for someone to exceed your expectations and give you that wow factor, look no more he is the person for the job.

Patricia Salter

Associate Dentist at Smileology
December 1, 2010, Patricia was a client of Douglass’

I have been a client of Douglas Lodmell’s since 2001. My main concern was asset protection in this litigious society. I can sleep alot better at night knowing I have the instruments in place to protect the fruits of my labor, and that they will not end up in the hands of a slick trial attorney.

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