The waiver should be attached to your standard agreement and should be incorporated by reference into the agreement. The time to find out if your standard business forms are adequate is before you have a legal problem. Unfortunately, most businesses find out the hard way that the form they bought at the stationery store is inadequate. Moreover, it is prudent to ensure that your forms keep up with your growing business. Just as you should perform an insurance audit every year, you should also perform a forms audit with your counsel.
Every business involves risk.
Ignoring the risk is an invitation to inevitable disaster. You can't eliminate risk but you can manage it by minimizing your exposure to it and obtaining the proper insurance coverage for your exposure. Too many young businesses don't learn how to manage risk until after they already have a problem. Teaming up with your counsel and your commercial insurance broker is essential to protecting your business by managing risk, and ensuring that your business continues to grow. This newsletter is for educational purposes and is not intended to provide legal advice for any particular situation.