Minimizing Liability of the Organization

A business liability emerges when an organization cannot meet its obligation or duty. Business liability is a subset of an organization’s overall risk exposure. An obligation can be either a legal or a promised commitment.

If a business fails to follow the law, it has violated its legal obligation. This liability leaves the organization open to potential fines or limits how it conducts business. In rare cases, an organization can be found to have engaged in criminal conduct. Its officers could then face criminal charges.

A business not living up to promised commitments loses the trust of customers. When a business fails to deliver the product or service it promised, the liability is lost business. Customers ...

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