Contact an Attorney
Business lawsuits can be expensive, lengthy, and frustrating, but a party can obtain immense success by pursuing a winning strategy. If you are involved in a business lawsuit, your initial move should be to contact an attorney. A lawyer can assess the strength of the claims against you or the strength of the claims that you hope to bring. By contacting an attorney early, they may be able to dismiss a flimsy suit against you or inform you if there are even grounds for a suit. Winning business lawsuits begins with an early headstart.
Do Not Contact the Opposing Party
Once a suit is pending, it is important to refrain from contacting the opposing party. The party can use anything you say or do against you. You should only communicate with the opposing party through your attorney.
Check Your Insurance Coverage
When facing a business lawsuit, it is necessary to prepare for a possible adverse judgment. Contact your insurance provider and determine if your insurance will provide coverage. Do not assume that insurance covers your suit as not all policies extend coverage to every business lawsuit. Fortunately, if insurance covers the suit, your insurer will generally defend the suit on your behalf, which will save you legal costs.
Keep in Mind
Throughout the suit, it is important to keep a few pieces of advice in mind. First, be completely forthcoming with your lawyer and avoid attempting to cover up damaging details. These details will be exposed, and it is best to inform your lawyer of them so that he or she can prepare an adequate response.
Second, be diligent and prompt with your attorney, especially in regards to your attorney’s fees. Do not be afraid to question your attorney’s rates. It is also important to participate actively in the lawsuit by answering your attorney’s inquiries, partaking in discovery, preparing for depositions, etc.
Third, ensure that your attorney maintains consistent communications with you and pursues your best interest. A low-quality attorney can risk the success of your suit.
Fourth, maintain a positive attitude throughout the suit. Remember that this is a business lawsuit seeking economic damages and is not a personal attack.
Finally, stay focused on your business. While a lawsuit is undoubtedly taxing, it is important to keep your business functioning. You should consider your business’ future when making legal decisions.
Winning a Business Lawsuit
To truly win a business lawsuit, a client must have a reasonable expectation of what constitutes winning. While most non-lawyers view winning a suit as obtaining a favorable jury verdict, success in a lawsuit does not always require a lengthy trial. In fact, a trial is an expensive, lengthy, and frustrating process that is not advisable in all cases. A vast majority of business lawsuits result in settlements. A bad settlement is often better than a good trial. Thus, a client pursuing or defending against a business lawsuit should know that winning may not involve a favorable jury verdict but instead, a reasonable settlement between the parties.
If you are involved in a business law suit and are seeking legal assistance, please contact us at (312) 223-1699 or click here to speak with one of our experienced attorneys.