Business ownership isn’t exactly a walk in the park, but plenty of entrepreneurial-minded people seem to relish the challenge. But what happens when you’re presented with a lawsuit? Whether you’re instigating the lawsuit or facing litigation yourself, it can be easy to let your emotions run high. When litigation knocks on the door of your business, there are a few basic things you should know before delving too deep into the process.
- Don’t delay
When you have a business to run, a lawsuit can feel like a distraction from your priorities. Even so, whether you’re filing or defending against a lawsuit, time is of the essence. Aside from the fact that fast action will help you prepare for what comes next, there are certain deadlines to keep in mind. For instance, if you are suing, you may need to make sure you file the lawsuit before the statute of limitations runs out. And, if you’re facing a suit, you must respond within the proper time frame, otherwise you could lose your chance to argue your case. And, make sure you promptly respond to your attorney’s requests because they will need time to prepare your defense.
- Weigh the financial pros and cons
Litigation is costly and time-consuming, and your overall costs are determined by the way you handle the lawsuit. If you’re suing or considering a suit, ask yourself whether the benefit will outweigh the cost. You could stand to lose a lot if your case is weak, but you could save a great deal of money and hassle if the other party agrees to a settlement. If you’re facing a lawsuit and aren’t sure how to proceed, remember that the cost of a settlement can often be cheaper than a winning case. Either way, try your best to set aside feelings of personal pride and treat it as a business decision.
- Consult with an attorney
It’s ill-advised to approach a lawsuit without legal counsel. For business owners considering a lawsuit, an attorney can evaluate your case, build your arguments using the appropriate legal theories, and help collect strong evidence to support you. A lawyer can also help you respond and put up a defense, if you are being sued. When you have a business to run, attorneys can save you time and money while also helping you reach a more dependable outcome.
- Cut off communication with the other party
No matter what side of a lawsuit you’re on, you should stop communicating directly with the other party once the suit is underway. If you speak about the lawsuit once it has been filed, anything you say can be used against you. It’s best if you only communicate with the other party through your respective lawyers.
- Collect information
When the time comes to build your defense, the more information you have, the better. Your attorney will need access to a wide range of documentation related to your lawsuit. This might include emails, photos, security camera footage, contracts, and invoices. If you have any witnesses who can testify about evidence related to your lawsuit, you will need to keep a list with their contact details.
If you’ve been wronged and need to bring an action or if you are being sued, the best thing you can do is consult with a qualified attorney. At Ser & Associates, we always first strive to find solutions and avoid lengthy, costly litigation. But if the matter cannot be resolved, we can provide effective representation to protect you and your business. Contact us at 305-222-7282 and let us assist you in achieving a successful outcome.
