Why do firms need legal expense protection?

Unfortunately, contractual disputes and even professional negligence actions are a part of business life, but it’s not until your company is affected by such a dispute that you can truly appreciate the problems they can cause. Recession and a turbulent financial climate will mean a difficult period ahead for many businesses. The last thing your business needs is a contract falling through or a dispute with a professional advisor. As the recession bites, a dispute of this kind with no legal protection cover in place could ultimately mean the closure of your business.

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Examples, why legal expense protection is important for companies.

  • Example 1

  • Example 2

  • Example 3

Example 1

An entrepreneur dismisses an employee. The employee then spreads defamatory rumors, which jeopardize the firm's reputation.

Costs:
ca. 59.000 EUR
in two levels of jurisdiction

Dispute value: 500.000 EUR

Example 2

An entrepreneur had been caught overlook a red traffic light on his way to a customer. But the traffic light is broken and was still yellow. The consequences are 200 EUR fine, four points in Flensburg and one month driving ban.

Since he needs his driver's licences professionally and he is sure that the light was still yellow, he files an objection. The court stops the proceedings.

Costs:
ca. 700 EUR laywer's fee

Example 3

An entrepreneur conducts his business next to a residential complex. Soon the residents apply for compensation and cessation of the operation because of noise pollution.

Costs:
ca. 33.000 EUR
in two levels of jurisdiction

Dispute value: 200.000 EUR

May be helpful

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