When businesses today have to contend with a changing economic environment, evolving labour codes, tighter budgets and a multitude of other challenges, the last thing they want to focus on is commercial litigation. This only hurts corporate affairs, and makes the firm uncompetitive.
Business disputes are common now more than ever before. Everyone from a former corporate partner to a longtime customer, there is always somebody who wants to wage war against a private enterprise, large or small, prosperous or bust.
Not only will this impact the company’s budget, it will affect corporate revenues, clientele and the overall bottom line. Of course, the firm also needs to hire a commercial litigation lawyer, which will take some money as well.
Before you scan the Yellow Pages to locate the right attorney, perhaps you can employ several measures right now to either avoid or prepare for commercial litigation. By doing this, you can minimize the damage or potentially avoid such a ruckus.
Here are five tips your business can avoid or prepare for commercial litigation:
1. Maintain Your Records, Documents & Communication
Even if you aren’t getting ready to enter into commercial litigation, it is imperative for a business to maintain, organize and update records, documents and communications with every party. This will take some work, and it will require some manpower, but it is crucial to shield yourself from wrongdoing by unscrupulous employees, customers or organizations.
2. Written Contracts Are Essential
In today’s climate, it is essential to have everything in writing.
You may be promoting someone or you may be getting into business with a certain party. Whatever the case, a contract is what will protect you from legal endeavours.
Before you produce your own contract and get everyone to sign it, it is first important to consult with a lawyer and ensure they give the nod to moving ahead with your version of the contract.
3. Take a Look at Past Commercial Litigation Affairs
To understand the state of commercial litigation and business disputes, it would be a wise move to stay up-to-date on these types of affairs. Whether it is researching commercial litigation affairs from a few years ago or learning about new instances from a week or two ago, you can employ several measures right now that can ensure your name remains intact.
4. Don’t Lie or Fabricate Evidence
A common mistake that businesses make, particularly when they are desperate or terrified, is making up evidence on the spot. This is wrong because it will eventually be found out to be false by the experts. In the end, you will only get yourself into trouble.
If you know that you are right, then it would be unnecessary to fabricate evidence or proof.
5. Always Remain Calm & Respectful
The motto of your business should be to remain calm, respectful and professional at all times. You must never take anything personal, and you should treat every person that comes into your office as an individual who is attempting to take your company down.
Even if you are engaged in a commercial litigation battle, you should refrain from sending nasty messages, making uncouth statements in public or getting too angry.
Commercial litigation lawyers have seen plenty of instances where a company got burned because it failed to take the necessary steps to protect itself in the current climate. This could be failure to keep everything in writing, keep excellent records or keep calm with employees or clients. But this is a fact of commercial litigation.
In this legal arena, you need to comb through every email, search through every document and recollect every conversation. This is the only way to survive and thrive.