Business law suits 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 law suit or hope to pursue a business law suit, 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, you may be able to seek quick dismissal of a flimsy suit against you or realize that the suit you hoped to bring is not worth the time and expense.
Once a suit is pending, it is important to refrain from contacting the opposing party because that party can use anything you say or do against you. Communication with the opposing party can occur, but it should be done through attorneys.
When facing a business law suit, 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 law suit. Fortunately, if the suit is covered, your insurer will generally defend the suit on your behalf, saving legal costs and insulating you from paying personal damages.
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 law suit 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 law suit seeking economic damages and is not a personal attack. Finally, stay focused on your business. While a law suit is undoubtedly taxing, it is important to keep your business functioning and consider your business’ future when making legal decisions.
To truly win a business law suit, 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 law suit does not always require a lengthy trial. In fact, trial is an expensive, lengthy, and frustrating process that is not advisable in all cases. A vast majority of business law suits result in settlements because a bad settlement is often better than a good trial. Thus, a client pursuing or defending against a business law suit 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 to speak with one of our experienced attorneys.