Think most business lawsuits effect the “big guys”? Not according to the folks at Bolt Insurance. According to them, 57% of lawsuits effect companies making less than $1 million in revenue. Did you know that 1 in 3 small business owners are sued or threatened with a law suit?
SOME CURRENT SCARY FACTS:
$100 billion: How much small businesses spend on legal action in the U.S. annually
25%: Number of harassment claims has risen since 2006
$404 Million: Price to settle discrimination related law suits each year
104 Billion: Annual cost to settle tort liability
Check out the neat infographic below to learn Five Ways to Protect Your Firm.
What about you, blog readers? Have YOU had the occasion to be threatened with a lawsuit? Learn any good lessons to share?
Infograph: BOLT Insurance