May 14, 2015

Tips to Avoid a Trade Libel Lawsuit

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Libel Avoidance

Online marketing is a great way to reach a wider audience. However, it also makes your business much more vulnerable to libel, since it is hard to control the online market. To help ensure that your company does not fall victim to a trade libel lawsuit, keep these tips in mind.

  • Create a policy – you should develop a policy that clearly states that your business in no way endorses or authorized the release of disparaging information about your competitors in any form, and provide consequences for any employees, interns, or contractors who violate this policy.
  • Have a company spokesperson – your company spokesperson should have a background in trade libel issues, and have regular coaching by legal counsel on the current libel concerns. In case your business does have to deal with a libel issue, your spokesperson should be the only one who is allowed to talk to the press.
  • Define a review process – having a clear review process will help to make sure that all of your external communications are properly evaluated for any trade libel vulnerabilities.
  • Examine communications – take a look at each and every way that your company communicates with customers, competitors, and the public. Look online for both unofficial and official channels of communication that your company is utilizing.
  • Set clear rules for company websites – create a terms and conditions of use with help from your legal counsel that will require any public statement to be approved. Designate an employee who is responsible to reviewing these posts to prevent any statements from going out that may belittle competitors.

For all of your commercial insurance needs, contact the insurance experts at Brewer-Lloyd Insurance Group in Mesa, Arizona. We will work with you to ensure that you have the right amount of coverage for your specific business.