There are several strategies entrepreneurs can employ to mitigate liability:
Choosing the Right Business Structure: Opting for an LLC or corporation can provide limited liability protection. Insurance: Purchasing business insurance can help protect against potential liabilities. Contracts and Agreements: Using well-drafted contracts and agreements can help limit liability and clarify the responsibilities of all parties involved. Compliance: Ensuring the business complies with all relevant laws and regulations can reduce the risk of legal issues.