After you have met with your attorney they will be able to describe areas of risk in your business. Some of this can be dealt with through your entity type, your legal documentation and other legal protections. But other risks need to be insured against. A qualified business insurance specialist can help create a policy that will protect your business and help separate it from your personal assets. Shopping around for insurance can be challenging so you might want to work with an independent broker. Brokers can sell numerous types of insurance brands. They will do the homework for you and find the best value given for your needs. A good broker will also spend time explaining your policy, what is covered and what is not.
You should complete the following tasks before proceeding to the current one.
Similar to your conversation with the accountant, you should give a final check with your attorney to make sure you have minimized exposure to risk. In addition you should have following items in order by completion of this phase:1. Any partner agreements fully executed.2. Employee agreements drafted and executed.3. If you have independent contractors, you should have a contract template for them and know how they will differ from your employees.4. Employee Handbook. 5. Contracts, license agreements, terms and condition, warranties, and waivers for customers if necessary.6. Intellectual Property Protection such as Trademarks, Copywrites and Patents (a patent takes a long time and a lot of effort to file. This may not be needed).7. Any other legal documents you may need to safely conduct business operations.
List of resources, subject matter experts, trusted partners, and tools that can be useful to complete the task.
Don't stop now! Just pick the very next stage-card that resonates with your business and continue working on the correspondent tasks.