Preparing for Business Litigation
When disputes arise in the context of business, one of the ways of resolving these disputes is through litigation. This is known as business litigation. According to statistics, 36% to 53% of small businesses are involved in at least one litigation annually, and 90% of all businesses are engaged in litigation at any given time. Business litigation involves taking a business dispute to court and letting a judge make the final decision. During litigation, disputing parties have an opportunity to argue their cases in front of a judge and present evidence. Therefore, when involved in business litigation, it is crucial that you prepare adequately. Below, we share some tips and tricks for preparing for business litigation;#1: Gather Supporting Evidence
When involved in business litigation, it is vital that you gather and preserve as much supporting evidence as possible. The more evidence you have to present in court, the better. Examples of evidence to collect include contracts, correspondence such as emails, faxes, and text messages, witness testimony, financial records, and expert testimony.
It is crucial that you avoid generating or fabricating evidence. You might think fabricating evidence will help your case, but this is rarely true. Not only can fabricating evidence result in you losing your case, but it can also attract harsh penalties.#2: Hire a Business Litigation Attorney
While you are not legally obligated to have an attorney during business litigation, it is highly advisable that you hire an attorney. An attorney can help ensure your rights are protected. They can assess your case, help develop a strategy, and guide you on how best to proceed. An attorney can help you gather and preserve evidence and navigate complex legal procedures, such as pre-trial motions, discovery, and court proceedings.
When looking for a business litigation attorney, the following are some of the crucial qualities to consider;
- Experience handling business litigation cases
- Courtroom and litigation skills
- Track record of success
- Negotiation skills
- Strong communication skills
When involved in business litigation, it is vital to keep communications about the dispute to a minimum. You should limit what you say about the case to your rival(s) to prevent further evidence from being produced that can be used against you. Anytime you need to speak with anyone about the dispute, ensure you do so through your lawyer. That way, you can avoid saying things that can be used against you.#4: Report Potential Insurance Claims
If there are insurance claims related to your case, ensure you contact your insurance company and report the claims.#5: Consider Alternative Dispute Resolution Options
Litigation is not the only way to resolve business disputes. There are several alternative dispute resolution options. They include negotiation, arbitration, collaborative law, and mediation. Before going to trial, you should take time to consider these alternatives. Among the many reasons to consider alternative dispute resolution options are cost-effectiveness, time efficiency, control, privacy and confidentiality, preservation of relationships, and flexibility.Contact Us for Legal Help
If you are involved in business litigation and are looking for a skilled attorney to hire, contact our business litigation attorneys at SAC Attorneys LLP.