Wil Chan for NEXT

Protect your business: How to avoid a lawsuit or getting sued

The dream of owning and operating a small business can become a nightmare if you’re hit with a lawsuit. Of all the tasks you take on to protect your business investment, NEXT says knowing how to avoid a lawsuit and what to do if you get sued are essential business skills for stability and growth.

Businesses spend an average of $1.2 million annually fighting litigation, according to the U.S. Chamber of Commerce . Education and preparation could help your small business avoid some of the financial losses — and stress — of a lawsuit.

What’s the difference between a claim and a lawsuit?

A claim is a demand made against another party for compensation for damages. While a claim can be made against any indi

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