Preparing for future

HughJo

hi,
I am a director and minority shareholder of a smallish company (about 80 staff). I've been with the company a fair few years but the last year or so has seen a few changes that has made me worried for my position.

Although nothing has happened as yet I want to make sure I am fully prepared for any fall out that given my position and shareholding might be messy. In short I want to make sure I'm not shafted.

I was wondering what sensible precautions I could take to ensure I have the best advice in the event of a dispute - should I consider joining a union or taking out some sort of legal insurance?

Really appreciate any advice on this.
H

engineer_amy

There is an insurance product called Directors and Officers Liability which you may want to research. I know it covers legal defence costs for claims brought against directors of the company, except in cases where the director has been proven to act fraudulently or negligently. However this may be directed more at protecting the company, not to be used by the director in a dispute with the company. It may be worth a call to an insurance broker to see if this type of policy is relevant to you, or if they recommend something else.


I don't know a lot about unions, except that you should have access to their legal advisors once you become a member, which may render my first paragraph irrelevant