All business owners should be prepared for a disaster, whether it’s physical, economic, legal, or personal. Besides preparing a disaster action plan, many businesses also acquire various insurance policies to address the harm a natural or other disaster can cause a business. Some common types of business insurance for such disasters include:

• General Commercial Liability. Provides coverage for claims arising from personal injury or property damage caused to third parties.
• Workman’s Compensation. Provides coverage for employees injured on the job.
• Property Coverage. Provides payment for property damage to the premises and its assets, like machinery and computers.
• Business Interruption. Provides

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Social media has been a boon for many businesses, but businesses must use it with caution. Some of the legal traps of social media include:

• Not treating your company’s social media posts as marketing subject to advertising laws.
• Overlooking sweepstakes and other laws applicable to giveaways and promotions.
• Not realizing you can be responsible for your influencers’ and content creators’ content.
• Sharing or posting inappropriate content.
• Not obtaining appropriate rights when sharing others’ content.
• Failing to comply with social media platform terms.

Should you have any questions or concerns, please contact us.
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Following a business disaster, even the savviest owner can be in shock and unable to comprehend how to recover. Having a disaster recovery plan in place before an occurrence can speed up the process and maximize your recovery.
A disaster recovery plan should include:

• Proper Documentation.  Photograph and document real and personal property periodically to have evidence of their existence and pre-disaster condition.
• Document Preservation.  Multiple copies of insurance policies, property valuations, titles, and other important papers should be stored in safe and accessible locations.
• Contact Information.  Contact information for all relevant parties should be maintained in a safe and

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Introducing new business partners to add talent, increase sales, or enhance finances is often a good idea, but with new partners come new risks to your business. To minimize those risks:

• Evaluate how they will enhance your business.
• Conduct due diligence on new partners.
• Provide a honeymoon or probation period.
• Establish mutual expectations and goals.
• Define roles and responsibilities.
• Secure a business prenup or buyout agreement.
• Document your understanding.

If you are considering adding members, owners, or partners to your business, please contact us if you have any questions or issues.
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Family gifts come in many forms and are made for various reasons. If they are of substantial value, care should be taken to avoid regrets or problems thereafter. Major gifting should also be considered in light of future life care and estate plans. Some of the issues to consider include:

• Loan or gift.  While it can be both or part of each, the donor’s intention needs to be clear.
• Immediate or delayed delivery.  When and how will the gift be complete?
• Cash or property.  Whether both or some of each, can the recipient maintain the property without adequate income?
• Tax

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A recent Illinois Appeals Court ruled that a divorce did not terminate an ex-spouse’s claim as a beneficiary of her former spouse’s retirement account on the ex’s death. While a divorce renders an ex-spouse to be considered “deceased” on most documents, the court ruled the deceased’s failure to change the death beneficiary on his retirement account following the divorce reflected his choice not to remove his ex as a beneficiary and awarded the account to the ex-spouse. Upon divorce be sure to review all assets, accounts, beneficiary designations, and entitlements to ensure they reflect your wishes on your death.
If…
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Every business and investment in a business eventually comes to an end, whether by sale, death, or dissolution. With this in mind, business succession planning needs to include estate, retirement, and tax planning. Making plans early, that can usually be adjusted, can result in maximizing the value of the business returned to you or your heirs, because once a letter of intent is signed or you are no longer able to make decisions, options may be limited. Some issues to consider include:

• Legacy.  Is the business something you want continued by future generations or is its value what you want

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Don’t think that just because a picture, diagram, or other artwork is on the internet and easy to download that it is free to use because it’s in the “public domain.” If the image is copyrighted and you use it “commercially,” you could be subject to substantial statutory and other damages. There are numerous businesses scouring the internet for copyright infringement recovering substantial bounties from the infringers they find.
Be sure you can use the images you download before using them.
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Most states employ the concept of marital vs non-marital property or community property to determine a spouse’s entitlement to the other’s business in a divorce. You or your co-owners, partners, investors, and other stakeholders should consider some protection to prevent a spouse or that spouse’s divorce lawyer from obtaining all or some of the ownership, rights, or control of your business. While each situation is different and each state has different rules, some steps you can take to protect your business include:

• Pre/Post Nuptial Agreements.  Spouses can agree to the distribution of assets during a divorce, prior to the marriage,

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Federal, state, and local employment laws and regulations change often, and employers need to keep abreast of the changes to avoid liability. To protect your business, perform periodic reviews with your hiring and human resources personnel of the key employment issues, including:

• Paid time off, sick leave and bereavement policies.
• Workplace safety requirements.
• Pay transparency and equality.
• Workplace harassment and discrimination.
• Trade secret protections, confidentiality and competition restrictions.
• Temporary employee and independent contractor issues.
• Severance agreement provisions.
• Hiring and job placement.
• Retirement, savings, and profit-sharing programs.
• Handbooks and employee acknowledgements. 

The attorneys at Brooks, Tarulis & Tibble, LLC can help…
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If your customers receive your products or services before you are paid in full, you are issuing credit. While this can be a boost for sales, it can be a bust for profits if there are collection expenses and losses. Some of the steps you can take to address issuing credit include:

• Use a credit application. Know to whom you are providing credit, the limits allowed, the terms of repayment, interest charges, and collection costs.
• Conduct credit checks. Proper use of credit reporting agencies and asking for and contacting references can avoid collection problems.
• Personal guarantees. Especially when issuing credit

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As we age, we may no longer maintain an adequate capacity to care for our own or our loved ones’ health or finances. Preparing for that possibility can ease your concerns and the burden it may place on your loved ones. While comprehensive estate and retirement planning are best, some of the easiest steps to take are preparing a:
(1) Health Care Power of Attorney;
(2) Durable (financial) Power of Attorney; and
(3) HIPPA authorization.
The attorneys at Brooks, Tarulis & Tibble, LLC can not only assist you or your loved ones in preparing these documents, but can prepare a…
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Businesses of all sizes and in all industries face potential lawsuits. These legal disputes can require significant money, time, and effort and can damage a company’s reputation, regardless of the case’s merits or outcome. The following are methods that businesses can implement to mitigate the risks of lawsuits.

• Choose an appropriate business structure. The correct business structure is a key risk management strategy.
• Stay informed on laws and consult legal counsel. Thorough knowledge of applicable legal requirements, including industry-specific regulations, employment laws, and data privacy laws, can help ensure compliance with them.
• Utilize strong contracts and agreements. Clearly written contracts

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