Business owners are often concerned with the practical everyday aspects of running a company, such as attracting new customers, improving products or managing finances. However, it is important to think about ways to keep the business covered in case of fraud, theft or other events.
1. Dishonesty Bonds
Most employers do not hire people they believe to be untrustworthy. Unfortunately, some people who appear to be honest and hardworking staff members may be secretly engaged in unsavory activities. Look into getting an employee dishonesty bond to protect the company’s assets in the case of theft from staff members. Small businesses may especially benefit from this, as the loss of thousands of dollars may put them at risk of going bankrupt.
2. Safeguard the Brand
Carefully document the creation of each new product and take legal action to protect the company’s physical and intellectual property via patents, trademarks and copyrights. …