Our Arlington business lawyers recognize that some businesses come with inherent risks, and as such, they need extra legal protection. For example, a hazardous waste management company or a parachute jumping company needs as much protection as possible, including general insurance coverage and personal liability coverage.
Even if a company is not inherently risky, you still need sufficient protection in case of an accident.
If you are wondering if your business falls into one of these high-risk categories, you can review the following list to see if your business meets any of these criteria:
– A business that uses hazardous chemicals or materials, such as cleaning products or photographic solutions, or dangerous processes, such as operating farm equipment or welding
– Baking, cooking or selling food items
– Childcare or animal care
– Repairing valuable items, such as airplanes, vehicles or antiques
– Building or repairing vehicles or buildings
– Driving, such as an on-the-road truck driver or a delivery person
– Permitting injury-prone activities, such as an ice skating rink or a ski resort
– Selling or permitting access to liquor
If you or your business will be engaged in one of the previous activities, business insurance can provide you with additional coverage. You will also need to consider if you want to set up as a sole proprietorship or pursue setting up an incorporation or LLC instead, which offer more protection of your personal assets in the event of a lawsuit against you.
You will likely have numerous questions when starting a business, including wondering about the type of business you should establish and addressing your insurance needs. You can reach the Arlington business lawyers at Schleifman Law, PLC for help with the legal aspects of your business.