An Abundant, Yet a Scarce Resource

There are four primary factors of production; this includes capital, labor, resource, and the entrepreneur, one being dependent with the other, and as indispensable as any other factor. Yet among these factors of production, the one most often considered as least important using as a basis the benefits and attention given to it is labor.

The irony is that, our present laws give high regard to labor, considering the same as a primary social economic force. The fact is, the state even imposes upon itself the duty to fervently protect the rights or workers, and the promotion of their welfare. Yet, notwithstanding this safety net afforded to the workforce, the sad fact remains: These group of people in the society are often discriminated against and are in a constant uphill battle against oppression and marginalization.

Affording full protection to labor in organized or unorganized establishment, and the establishment of full employment and equal employment opportunities is a staple in every civilized society. Guaranteed rights of workers to include: the right to self organization, peaceful concerted acts, the right to strike in consonance with law, collective bargaining agreement, security of tenure, living wage, and humane conditions of work are only some of the safety provisions promoting a workman's welfare. Despite these array of rights explicitly contained under our laws, some if not all of industries which are labor-intensive do not afford said benefits. Adding insult to injury, these production-based employees are even strapped in a hostile employment environment making their situation much more degrading and unwanted.

In a situation where an employee's rights are not afforded, the occurrence of antagonistic relationship between labor and management is not an uncommon picture. Hence, in an aim of avoiding to sacrifice a stand-off in production, the promotion of shared responsibility and the use of voluntary modes in settling brewing disputes are necessary.

Labor is indeed an abundant resource, consequently, due to its increasing supply, the cheaper it is to acquire the same. So cheap in fact that even if not all the standard rights are afforded, still many individuals would readily accept any employment offer. Couple this fact with the growing incidence of poverty, and then what you have is an industry that caters more to the interest of the owners of the means of production, than those who use manpower to produce the same. As a result of this dichotomy, the fact of having abundant labor is a truism, but then again, despite the abundance of labor and the absence of the appropriate benefits afforded to them, quality labor is scarce.

Our Los Angeles Accident Attorneys specialize in all fields of personal injury, business law, social security, and employment cases.

Car Accident Injury Lawyer
Eugene Law Firms
Monticello Lawyers
Ms Dept Of Insurance
Michigan Auto Accident Lawyer
Sec Lawyers
Novi Attorney
Alberta Family Law
Crooks Lawyers
Hanson Family Law

Limit Your Liability to Protect Your Assets

If your business runs into serious difficulty, will it bring you down too? For example, what if one of your employees got involved in a serious car accident while working for you? Will the resulting lawsuit bankrupt you personally?

Here are just a few ways of protecting yourself against catastrophic losses and lawsuits.

1. Obtain Adequate Insurance Coverage

If someone slips on the sidewalk of your home and injures himself, he could sue you for damages. Your tenant`s or homeowner`s policy may cover you for liability in such an event.

However, what if it is your customer who falls on his way to visiting your home-based business? You will need an extra rider on your house insurance to cover such incidental business use. The extra charge for this additional coverage is well worth it.

If you use a car for business use, insure it for such. Some people think that they are being clever writing off automobile expenses for income tax purposes but at the same time not informing the insurance company that the car is being used for business.

This is false economy. If you ever get into an accident, police and insurance investigators will certainly find out that you used the vehicle for business purposes. If you`re not paying for business coverage, why would the insurance company cover your claim?

As well, what do you think an income tax auditor would think of your claimed business expenses on the vehicle when your insurance policy indicates personal coverage only? Avoid this additional exposure to tax liability.

Be sure to obtain required workers` compensation coverage. Some have been held responsible for all the medical and other expenses of an injured worker, as well as fines for non-compliance to the law. These costs can be quite substantial and even bankrupt you.

Consider obtaining product liability insurance. This applies not just for any products you manufacture but also for products you sell that are made by others.

2. Incorporate Your Business

Insurance may give you some protection against loss. However, you may suffer business losses and lawsuits that may not be covered by your insurance fully. What then?

An extra level of protection can be obtained by forming your own corporation. Even though incorporating yourself will result in extra paperwork and costs, it could be the best insurance you ever bought.

This is because the corporation is a seperate legal entity or person. Even though you may own the corporation, if the corporation operates the business, it is the corporation that will be sued or suffer loss.

If, for example, the corporation had severe business losses resulting in debts that could not be repaid, the corporation would be insolvent. You, as a shareholder, would lose your investment in the company but would generally not be responsible for any of its debts. Thus, you would not have to sell your home or other personal assets to cover the corporation`s liabilities.

On the other hand, there are cases where directors of a corporation can be held responsible for liabilities if they didn`t act responsibly. You can`t hide behind a corporation, commit criminal acts and expect to escape accountability.

For more information about incorporation, visit: http://www.yenommarketinginc.com/incorporation.html

3. Protect Yourself With Legal Agreements

Properly drafted written agreements can protect you in many ways. First of all, they can sometimes prevent misunderstandings that can lead to legal problems. Secondly, they may limit your exposure to lawsuits and losses.

Contracts can limit your exposure to liability by including provisions restricting the scope of your work and responsibility, having disputes handled by arbitration rather than through the Courts, and specifying that the maximum damages payable shall not exceed the amount of the contract.

A special area to watch out for is the Internet. There are many laws that impact on websites including matters affecting children, privacy, earnings claims, and unsolicited e-mail ("spam"). Certain agreements and notices on your website may help to protect you.

For more information about Internet law, visit: http://www.yenommarketinginc.com/internet-law.html

Protect yourself from catastrophic losses and lawsuits. Take steps today to protect your assets by limiting your exposure to liability.

J. Stephen Pope, President of Pope Consulting Inc., http://www.popeconsultinginc.com/ has been helping clients to earn maximum business profits for over twenty-five years.

For valuable Work at Home Small Business Ideas, visit: http://www.yenommarketinginc.com/

Eastern Law Firm
Grandparent Child Custody
Eugene Law Firms
Living Together Agreements
Templeton Attorney
Child Custody Issue
Employment Law Course
Family Court Lawyer
Labor Laws Posters
Alberta Family Law