Construction companies are a potentially lucrative, but extremely risky business venture says Lyle Charles. There is no shortage of pitfalls that could afflict a construction company at any given time, and it is important to take the appropriate preventative measures. Listed below are but a few of the legal issues that can plague even the most successful construction companies.
- It’s easy to dream up the idea of a successful company following a progressive business model but the harsh truth is difficult to ignore. Finding investors and other means of capital for any upstart company can be exceedingly difficult, as seen by the countless businesses that failed before they could start.
- Proper liability insurance can be difficult to secure. One of the key strategies to new business success is to ensure the safety of all involved. Liability insurance, comprehensive or otherwise, is difficult to negotiate and can stall construction turnaround services indefinitely.
- While the workload among the staff can get perilous, the urge to enlist the help of subcontractors in construction consulting must be followed by a mental warning of the liabilities. By transferring responsibilities to a subcontractor, the client puts itself at the mercy of any mistakes made.
4. Sexual harassment in the workplace, while no longer the brazen menace it once was in more barbaric times, is still a problem quite prevalent in many industries. Besides moral compulsions of construction mediation, all companies should be urged to quell workplace harassment to avoid lawsuits flung from aggrieved female former workers.
