Articles Tagged with Risk Management

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California recently surpassed France and Brazil to become the world’s sixth-largest economy. As such, California is home to many businesses with significant assets. In this fast paced, value creating culture, it is not unusual for asset purchase agreements to be completed with pre-printed forms and templates.

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Unfortunately, many business owners learn the hard way that an asset purchase template fails to address the particulars of the business assets being acquired or sold and provides inadequate protection for the financial and legal interests at stake. An experienced corporate attorney can help protect your company by structuring an asset purchase agreement that is suited to your transaction, enforceable, and able to cover a wide array of contingencies that may arise.

Many Things Can Go Wrong in an Asset Purchase Transaction

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Fotolia_148839470_Subscription_Monthly_M-300x200Risk management is an important strategy for any business. Silicon Valley businesses can protect themselves from liability with effective indemnification provisions – These provisions can be instrumental to easing the financial burden of a lawsuit against your company.  Rather than your company paying for the legal costs of a lawsuit due to one of your business partners, you can obligate your business partners to pay for the legal costs through an indemnification provision. Learn more about the terms and conditions of indemnification and how to protect your business from future legal liability.

How Do I Indemnify My Business?

The first step to drafting an effective legal indemnification is identifying the specific types of liability your business needs to be indemnified from. For example, some businesses, such as theme parks, are based around services which are potentially dangerous to consumers. It is important that these businesses appropriately indemnify themselves against claims by those who use their business facilities. Specifically, theme parks may want to consider obtaining an indemnification in any contract with repair or technician companies providing repair and maintenance to their theme park rides. Professionals with high rates of malpractice claims (such as obstetricians) must also consider the appropriate means for indemnifying themselves against legal claims by patients.

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