Every year, businesses large and small face legal challenges throughout the US. Research shows that between 36% and 53% of all small businesses are part of at least one business litigation matter annually. Disputes over who is responsible for the property, breach of contract, and partnership conflicts are just some of the problems faced.
How can you protect yourself and your business assets? When involved in business litigation, preparing for the legal process is one of the first steps you can take to ensure you build the strongest case possible.
What is Business Litigation?
Business litigation is the process of taking legal action in a business context of a non-criminal nature. When one party involved in a deal isn’t upholding their responsibilities in a contract, or another legal issue arises in a business or commercial relations, business litigation may be necessary.
Litigation vs Arbitration
When you engage in business litigation, your case is taken to a court where it is disputed before a judge or jury, with the possibility to appeal the decision made. In contrast, arbitration involves a private process. With arbitration, both parties involved in the dispute agree to engage with a third neutral party who will render a legally binding final decision.
How You Can Prepare for Business Litigation
One of the most important parts of business litigation preparation is maintaining proper communication and gathering information related to your lawsuit. Here are some steps to take to ensure you engage in the best preparation possible.
1. Gather Supporting Records and Information as Evidence
Preserving evidence related to your case is critical. This means you should gather all documents, communications, contracts, memoranda, records, reports, and invoices related to your legal dispute. Your communication may include text messages, emails, recorded messages, digital files, and hard copy paper documents. Of course, it is important to avoid fabricating or destroying evidence as this can bring strong penalties.
2. Report Potential Insurance Claims
Contact your insurance company and report any claims that may be related to your case. In some situations, the type of insurance coverage you have may determine the basis of your case.
3. Limit Communications
Furthermore, it is important to limit your communication, both spoken and written, about the dispute and with those involved in your case. This is done to prevent further evidence from being produced that may be used against you in court. If you need to contact anyone involved in your dispute, speak with your lawyer first for essential guidance.
4. Contact a Business Attorney
When facing business litigation, it is important that you secure the best legal counsel. Be honest with your business attorney about the facts of your case, both good and bad. At Cipparone & Cipparone, our extensive experience in multiple aspects of business litigation ensures your best interests remain at the heart of your entire legal process.
From commercial and business disputes to partnership disputes, breach of contract, business tort claims, and more, our law office cares about your issue and has professional counsel on hand to help.
**This blog is for general informational purposes only. Cipparone & Cipparone, P.A. does not distribute legal advice through this blog. As such, this blog does not constitute legal or other professional advice, and no attorney-client relationship is created between the reader and Cipparone & Cipparone, P.A.
Tags: Business Law, business litigationCategorized in: Business Litigation