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Under its settlement signed last year, BP agreed to a compensation formula and framework covering certain personal and business liabilities.
His campaign says that those debts are ordinary business liabilities and that his business is profitable and secured by $5 million in assets.
He believes that the significance of the latest Paris tribunal ruling is not limited to privacy or defamation issues but could change the entire range of business liabilities for multi-national corporations with local subsidiaries.
BP has no control over its payments to claimants, having agreed to a compensation formula and framework in a legal settlement covering certain personal and business liabilities.
As a sole proprietor you are personally responsible for all of a business' liabilities, including its debts and any liability judgments against it.
Calculate the total of your business liabilities.
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Business liability contracts may be written to cover loss even if the act that produced the claim was not accidental.
The latter contract is designed to be broad enough to encompass almost any type of business liability, including automobiles.
Known as malpractice, or errors-and-omissions, insurance, professional liability contracts are distinguished from general business liability policies because of the specialized nature of the liability.
In business liability insurance, all partners, officers, directors, or proprietors are covered by the policy regardless of their direct responsibility for any act of negligence.
California, which has the ninth-largest economy in the world, has led the way on this push to make a traditionally backward-looking industry anticipate and respond to the business liability presented by a changing climate.
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CEO of Professional Science Editing for Scientists @ prosciediting.com