Depending on the structure of an Oregon business, an owner may not be liable if his or her business faces a lawsuit. For example, in a limited liability company or certain types of corporation structures, business managers are likely not at risk of losing personal assets in the event the company loses a legal battle. However, there are times when these assets could be at risk, and this is why it’s crucial to take quick action to protect both professional and personal interests.
Business lawsuits can be the result of decisions made by managers and directors. These choices are made with the intent of protecting the overall financial well-being of the company, as well as the interests of owners, employees and even shareholders. However, when things do not turn out as anticipated and complications arise, managers and directors may be blamed for the results of the decisions they made.
When a manager is facing a lawsuit that threatens his or her personal finances, there are ways to fight back. The right defense strategy depends on the details of the individual situation, but it is possible to defend against allegations and avoid personal financial loss. There are laws and legal doctrines that allow managers and directors to make decisions on behalf of a company or corporation without the risk of personal liability.
When Oregon business managers are facing a lawsuit, it is prudent to take quick action to secure legal counsel. Working with a legal professional experienced in complex business law concerns can be invaluable during this complex process. A proactive approach is often most beneficial, allowing for a faster and more beneficial resolution to concerns for all parties involved.