No matter how carefully a business is run, business disputes can arise for a variety of reasons. With these disputes comes a degree of risk. Fortunately, you can minimise this with proper preparation.
Seek legal advice.
The sooner you get legal expertise on your side, the better. An experienced legal expert will be able to assess your case and support you through the dispute. Don’t delay in finding a lawyer as this can reduce your chances of getting a favourable outcome.
You should also take care when selecting your legal advisers. Don’t simply choose the first or least expensive lawyer you find. Take the time to ensure that the lawyer you choose to represent you is reputable and has a solid track record. There are plenty of excellent legal advisers for you to choose from. You may consider business dispute lawyers who can provide the help you need at a reasonable price.
The prospect of business disputes can be alarming. Don’t take any action that might cause further problems down the line. Hasty reactions can increase business risk and aggravate the situation. Qualified legal advice will help you approach the dispute with a cool head.
Be open and transparent about all aspects of your case with your legal team. Make them aware of the facts and evidence that are on your side — as well as any areas where your case might be weak.
Co-operate with your legal advisers and keep your team apprised of anything that might affect your case. This will help them to change tack and work on an alternative strategy.
Compile evidence
You should immediately begin to collect any evidence relating to the dispute and preserving it. Documents — including emails, text files and other digital media — need to be compiled.
Don’t underestimate the importance of other types of evidence, too. This can include physical evidence such as material samples, products or even machinery.
These need to be secured so that they can’t be compromised, either accidentally or through deliberate tampering. You will also need to prepare a detailed statement.
Set clear, realistic objectives
Even if you’re certain that you’re in the right and your case is watertight, you should always pause and think seriously about the potential consequences of pursuing your dispute. In some cases, it may be necessary to pursue your case to the fullest extent the law allows; for example, if failing to do so would negatively impact your reputation or open your company up to further legal problems.
On the other hand, it may not be necessary or desirable to do so. Perhaps you hope to carry on doing business with the opposing party in future and don’t want to damage your professional relationship.
It may also be that the possible benefits of winning your case are outweighed by the time and resources you would have to expend. Be prepared to settle early if circumstances dictate that this is the best option. Negotiation and alternative conflict resolution may be a more constructive option.
Record the terms of any settlement
If you do manage to reach a settlement, it’s very important that you keep a detailed record of the case. This information will help you comply with and enforce the terms of your arrangement. It may be important if the dispute is reopened or if a similar issue arises in the future.
In conclusion
When considering strategy make sure you have the funds to pursue your case — litigating a business dispute can be expensive. Your legal advisers can often help you find ways to fund your court case. Even if your budget is tight, you can find suitable funding options.
