Cover Your Ass
Brian Zheng • April 24, 2020
“37 lawsuits cost me $7 million dollars altogether…you need to use the legal system to protect your own innovations.
If you guys want to start being an entrepreneur, do me a favor and buy some goddamn insurance to cover your ass first.
We’re lucky enough to have very sophisticated, well built legal system to protect our intellectual property in this country and in this marketplace.”
At one point, Brian Zheng dealt with the consequences of having a lot of success with his business and innovations. For 2 years and 7 months, he dealt with a lawsuit that claimed that his product had damaged the eye of a consumer and they were suing him for $4.2 million dollars.
Thanks to his insurance company he was covered, but luckily enough they found out that this person was posing fraudulent claims the entire time.
It goes to show that the more money you make, the more people want to go after you.
Were you ever sued due to a legitimate or fraudulent claim?