As a business owner, the last thing you want is litigation. You do not want the strain on time and resources caused by continuous litigation, especially for circumstances that could have been easily prevented. It is a distraction you cannot afford, and while it is not one hundred percent preventable, you should put measures in place to ensure that the chances of it are very unlikely. In this article, we share practical tips that can save you time and money on litigation. Continue reading to find out.
Avoid Ambiguity in Contracts
It may seem obvious, but even knowledgeable parties occasionally get into ambiguous, contradictory, and harmful contracts. You may be too busy to look at each fundamental under a contract, leaving room for poor drafting and incomprehensible clauses.
For your safety, get an attorney to prepare contracts intelligibly and unambiguously so that the interpretation is straightforward. The better the drafting of your contracts, the less likely for ambiguity to set in and cause a loophole that might cost you.
Get an Expert Business Lawyer
You need a lawyer, no matter how straightforward your business operations might be. Your attorney will help you make sound decisions that can prevent future incidents. In the case of litigation, they can get ahead of problems and resolve issues with mediation. If necessary, they will represent you in court.
Follow through with Contractual Obligations
You may have a lawyer and well-drafted contracts but still, get in the bind of not meeting contractual obligations. Even if your actions are standard practice, you should know that going against the rules of a contract you sighted has legal implications which would most likely require litigation. If you are looking to avoid such situations, ensure that you do your end of the bargain by upholding the conditions of the contracts you sign.
Not everything requires high-handedness and threats. Having an aggressive stance because you have a famous law firm behind you will lead you to more situations than you can handle. Rather than bullying or intimidating your opponents, try to de-escalate the situation. While this is not to say you should allow yourself to be bullied, you should remain on the side of reason to avoid litigation as much as possible.
Mediation Is An Alternative
While this is not always the case, you should consider mediation in cases where both parties are ready to come to a compromise. Rather than go through the costly process of litigation, a mediator may be able to help each side come to an agreement based on compromise. As they are neutral and impartial, they can help offer objective advice to your situation so you can make headway.
Common mistakes like failing to recognize business law and industry standards in your location of operation can put you on the wrong side of the law. Research will have you informed on the dos and don’ts of your industry. Ensure that all agreements are in writing and that you steer clear of conflicting interests. Having information on essential matters will save you from incidents that may lead to litigation.
The counsel of an expert business attorney will help you avoid and navigate these problems. If you are searching for experienced business attorneys to represent and protect your interests, reach out to us here.