Commercial litigation can consist of everything from shareholder disputes to breach of contract. But it can also consist of lengthy court cases, expensive legal fees, and a blow to your corporate reputation. These are ingredients for a recipe for disaster.
One of the first things to minimise the headaches of these types of affairs is to hire a commercial litigation lawyer right away. The next step is properly prepare for the ordeal.
So, how do you prep for these things?
Here are five tips for your business to prepare for commercial litigation:
1. Maintain Records & Preserve Evidence
As a business, you should have filing cabinets filled to the rim of records, contracts, paperwork, and anything else of importance. If you are a company that completes every task in writing, then you likely can produce evidence to support your case.
Of course, this can only be achieved if you maintain your records, preserve the evidence, and ensure that the information in writing is accurate. If that is the case, then you really should have nothing to worry about from day one.
One more thing: whatever you do, refrain from creating evidence or records.
2. Limit Verbal & Written Communications
You may want to resolve your legal affairs as soon as possible because it is disrupting your corporate routine and your professional reputation. It might seem tempting, but it is important to also cooperate with your commercial litigation attorney before you take any drastic actions.
So, what should you avoid doing?
Here is simple advice: limit your verbal and written communications with the other parties.
Unless it has been given the nod from your legal representative, you don’t want to send emails, you don’t want to make telephone calls, and you want to minimise your engagement in meetings.
3. Regularly Contact Your Attorney
As any commercial litigation attorney will tell you, the legal process is a lengthy one. It could be a matter of months before the case is concluded – that is, without both sides coming to an agreement.
There might be times when you won’t be contact with your lawyer for several days. That said, it is important to keep in touch with your commercial litigation attorney to receive updates, offer information, or just learn more about the case.
It may seem superfluous, but it is better to be in the know than to wait on the sidelines.
4. Don’t Change Your Day-to-Day Operations
Commercial litigation can really impact your business affairs. It is definitely a cloud that hangs over the office, and it can appear as if everyone is walking on eggshells.
However, it is imperative that you refrain from changing your day-to-day operations. You need to ensure that the entire workforce – from management to entry-level employees – are meeting deadlines, arriving to work on time, sending emails, and continuing to collaborate.
In the end, everything should stay the same.
5. Always Try to Work Out a Resolution
Any commercial litigation case can be a costly, tedious, lengthy, and stressful endeavour for both sides.
With this in mind, you should always be open to the possibility of establishing a resolution that makes both sides happy – yes, there will be give and take, there will be compromises.
By coming to a satisfying agreement, you won’t need to be concerned about lawyer fees, court fees, and the case dragging out that negatively affects the company.