There are obvious and varied risks that many businesses face. Ranging from bankruptcy to workers compensation claims, every business owner should be aware of and ready to face any challenge. One such challenge, business litigation, can take several forms and knowing what to do before the unfortunate situation arises can allow for any business to be better prepared to handle it. Before you bring your business dispute to court, there are some considerations you have to take into account, like these listed below:
1.) You need a competent and experienced business litigation attorney.
Finding a skilled and experienced business litigation attorney can make a big difference in your chances of winning your business litigation case, so you need to be very smart when choosing one.
- Since not all business litigations are the same, you need to hire a skilled attorney who specializes in your particular case.
- Look at the background of the attorney to see if he/she has indeed handled a case like yours. By looking at an attorney’s history, you’ll have an idea about his/her capability.
- Look for an attorney who’s got a good record in solving business litigation out of court. Going to court is not always the best solution. If your attorney has the ability to resolve disputes without going to trial, you’ll be able to save a lot of time and money.
2.) Consider the costs of a business litigation case.
If your business should go through a messy business litigation, know that it will cost you a lot. There are many legal fees you may be required to pay. Aside from paying your lawyers, you could also end up paying the party that sued you if they win the case.
3.) You’re going to spend a lot of your time in researching.
Your chances of winning litigation depend on the amount of research you’ve put into it. Business law is extremely complicated, and the most knowledgeable side often wins the case.
- You should take the time to understand what you’re up against through research.
- As a business owner, you also have to do your own research as well. Lawyers will also do research for your case, but it’s not a good idea to just leave it to them alone.
- If you research what you’re up against, you’ll know about the possibilities and outcomes which should help you in making good decisions concerning your case.
- Your attorney will also research your case, so you might want to ask them what’s their take on your litigation case.
- Researching can also help you figure out your chances of winning the case.
4.) You have to gather a lot of financial documents.
The amount of documentation you can provide during the litigation process will probably make a significant impact on your chances of winning your case. You have to gather documents such as:
You should provide these documents to your lawyer to make sure that there are no loopholes in your case. A litigation process will always find loopholes, and if you lack in documentation, it’s highly possible that you’re going to lose your case.
5.) Never think of going to court without legal representation.
You should never represent yourself when going through a business litigation process, especially if you have no knowledge of business law.
- You should never represent yourself even if you think you are right.
- A jury will decide your case, and the only way to convince them to take on your side is if you have legal counsel.
- An attorney will make sure that you are legally represented and help you win your case.
6.) Litigations can have public-repercussions to your business.
It’s also important to consider any unintended consequences that litigation can bring to your business especially with your public relations. If you think that there’s an aspect of the litigation process that you don’t want to go public, you can opt to settle the case out-of-court.
- A litigation process poses both sides against each other just to win the case. There’s nothing wrong with being aggressive to win your case, but there might be some aspects of the litigation process that might affect your business’s reputation.
- If a judge orders it, all parties involved in the litigation process are required to present all evidence in a trial; making it available to the public. This may involve exposing your business’ secret documents for everyone to read.
7.) Business litigation cases are very unpredictable.
Even if your case is strong, the tides can still be turned against you.
- Your key witness or story may prove to be unreliable when studied carefully.
- The jury might be against you already, even before the trial starts.
- Also, litigation cases take a lot of time. Most litigation cases can take a minimum of 1-2 years before a decision is made, with some lasting five or more years before a jury can decide.
You must protect your business at all costs, as it is the product of your blood, tears, and sweat. So if your business gets sued, always take time to find the best litigation attorney out there. Just because you are hiring an attorney, it doesn’t mean that you are already going to court. There might be other alternative dispute resolutions you can consider, and your attorney will help you choose which one is suitable for your case. Your attorney is just there to help you decide on what’s the best legal action to take.
Cindy Dowling, part time writer who offers a fresh take on various law topics with the pieces she writes for local firms. Cindy enjoys a good cup of coffee and a good book whenever she has the time.