C.Y.A. (Cover Your Assets)
By R.J. Meyer II

Recently we have read stories of taxidermists whose shops have been burned down, blown up, flooded, crashed into, broken intoÉ the theme seems to be the same. They didn't prepare in advance for this event. Lets face it; all taxidermists basically have the same types of risk. We all have a shop of some sort where we work with sharp items: scalpels, saws, knives etc. We allow the public onto our property and into our establishment, often with children in tow. We accept responsibility for the care of some very unique items with no set value: antlers, skins, etc. We often transfer the responsibility for those unique items to others: tanneries, wholesalers etc.

Much like the unpleasant yet necessary task of making out your will, the protecting of your business and personal assets is a must. Think you're too small or too smart to be taken advantage of? Think again! There is a reason that even as you read this, there are more people in college working toward a law degree than there are lawyers walking the earth. If you are in business long enough, sooner or later, someone is going to sue you or threaten to sue you. Be it real or imagined, someone is going to feel that they have a legitimate reason to dip into your pocket. So what is a person to do? The first and most obvious part of protecting yourself is insurance. Insurance is the answer to most of your possible problems. Someone falls in your driveway? Insurance! Someone slams his or her hand in your front door? Insurance! A three-year-old child finds that scalpel in your showroom that you thought was lost? Insurance! The shop is burned down, blown up, washed out, ran over, loaded on a trailer and hauled off? The answer is still Insurance!

Insurance however is only the answer if you have the proper type.

Most insurance companies will custom build you a policy depending on your needs. Of course the first two types you need are the basics: Liability and dwelling. The purpose of liability insurance is to cover personal injury that may occur on your property. Its pretty straight forward, you pick the amount of coverage you feel comfortable with and buy it. The same goes for the building you work out of. It should be insured for the full replacement value. The other types of insurance you might consider are not so easy to define as far as limits. Remember the value of your shops contents most likely fluctuate at different times of the year. Be sure to use the high value numbers as in accordance with Murphy's Law, disaster will strike when the most possible items are in your shop and not at the tannery. Lets look at the following scenario: Your shop burns down. You call your insurance carrier. The first thing that they need to know is what was in that blackened wet pile that used to be your studio. You of course, being a professional have taken the time to set up or purchase a computer program into which you have entered all the work that has come in or gone out of your shop. And again, being a professional you have faithfully each week or more often, transferred that list to a floppy disc, tape or CD (about twelve seconds out of your life) and have either brought it home, thrown it in the back seat of your car, mailed it to yourself or done whatever you had to in order to get it out of your shop. We load that disk into another computer and any information you need concerning the contents of your shop is there.

So now that we know who's trophies have burned up, its time to compensate the customers. Obviously, there is no way to replace the person's hunt, nor can you get them a specimen exactly like the one that burned up. This is where your insurance comes in. Some people will be happy with the refund of their deposit. Others may opt for a replacement of their item. A reproduction fish, a similar cape and antlers, a game farm pheasant, a fox, bear or bobcat can all be purchased. Waterfowl laws as always are a touchy matter, and since the Feds. can't even agree on them, if you can't get it from a game bird breeder I would steer clear here. Some items are beyond replacement or the customer will not accept a replacement. In this case one or more customers will be looking for money. If the insurance company can't satisfy the price demanded for the loss, a lawsuit against you will surely follow. Suddenly that little taxidermy shop that burned down has the potential to cost you your car, home, bass boat, and anything else you may happen to own. If only you would have called one of those lawyers sooner, you could have protected those things.

Did you ever notice that almost all the companies you deal with have some of those funny little letters behind their name? LTD. LLC. INC. Ever wonder what those mean? Think of these types of companies as being an artificial person or entity. Since I'm not an attorney I won't even attempt to get legal here, lest I end up being sued. What they basically mean in a nutshell is there are ways you can protect your personal assets even if you have to sell off the company assets and close the studio to satisfy a judgment against you. My business is set up as a LLC. (Limited Liability Company) in the state of Michigan. The cost was about $450.00 for an attorney to handle all the aspects. Even though I sign the lease, pay the bills, and own the company, the company, not me, is responsible for all debts and obligations. As long as I follow the rules the government has set up for the type of company I have, I am covered from personal liability. Remember that when set up properly, the company stands alone. Worst-case scenario, you get sued and have to liquidate the company to settle the suit. ABC Taxidermy is out of business and a company that no longer exists owes any outstanding debt or has any assets. Personally you are covered. The bright spot is that there is nothing to keep you from opening XYZ Taxidermy as a new company. Sure you have to start all over, but it will be much easier with a house and car, rather than from the homeless shelter.

Some other thoughtsÉ Are your items insured when they are off premises such as shows, store displays, or in transit? What if the Tannery in possession of your 60-whitetail capes burns down or goes out of business? How about those fish you sent to the wholesaler just before his freezer went out? What will you use for income while rebuilding your shop? Insurance is still the answer. Ask the people you deal with to provide you with a certificate of insurance. It is a normal cost of doing business. Another item to keep in the back of your mind as far as liabilityÉyou are a taxidermy shop not a butcher shop. Customers often ask about getting the meat back from their fish, duck, or whatever. I have a strict policy against this, as we do not meet the sanitary standards for a butcher shop and no matter how clean you think your shop is; and I bet you don't either. The only exceptions we make is for turkeys which we will skin while the customer waits and then we clearly label the wrapped meat with a tag reading "Not Fit For Human Consumption."

Remember, always C.Y.A.