You know we live in a litigious society, but do you know what that means?
- Nine out of ten lawsuits in the world are filed in the United States
- A new lawsuit is filed every thirty seconds.
- If you own a business or practice a profession you have one chance in three of being named a defendant in a lawsuit in the next year. And it will only get worse. There are close to 700,000 practicing attorneys in the U.S. and over 100,000 law school students in school right now. That's one lawyer for every 400 men, women and children!
- Contingency Fee lawyers search for easy targets.
Any of these events could leave you penniless and in debt.
- A negligence or injury claim, whether justified or not, that exceeds any insurance coverage you may have or where insurance does not cover the liability
- Breach of contract through no fault of your own
- A professional malpractice suit
- Lawsuits from disgruntled business partners or employees
- Huge fines for violating state or federal law because of the actions of an employee
- Claims from creditors should your business fail
- Catastrophic medical bills
- Seizure of your home or other assets without due process by the U.S. Customs or other government agencies with forfeiture power
- A huge tax bill and escalating penalties following an audit
- Immoral competitors
We all have choices when it comes to saving money and protecting assets. Many states go out of there way to create an invironment for investment. Some states however, lack people with credentials or a proven track record. You must take reasonable care before entering into an agreement or a transaction with any Secretary of State Corporation Division.