Litigation can be time consuming, expensive, and stressful. By incorporating a few tips into your business dealings, you can lessen the risk of being involved in costly litigation. Even when litigation is unavoidable, the tips below will help you be in a better position if the matter does go to court.
1. Create Clear Agreements in Writing
If your agreement clearly sets up the obligations of the parties and what happens when a relationship breaks down it can minimize the cost of resolving a dispute. Your agreements should be understandable so it can be interpreted effectively. Ambiguities in agreements often give rise to litigation. If you make changes to your agreement, be sure to capture it in writing and have the parties approve and sign off the changes.
2. Read the Agreement
This might sound obvious, but time and time again we see litigants say they did not read and/or understand the agreement fully. You should always read the agreement carefully and ensure that you understand each provision of the agreement fully.
3. Obtain Legal Advice
Even when you think you are signing a simple agreement, you should still have a lawyer review it. You might get some suggestions that will avoid potential disputes. A lawyer will also help you properly understand your rights and obligations pursuant to the agreement. A lot of times a little investment at the outset can help you save in the future.
4. Keep Good Records
Keeping your records in an organized and concise manner can tip the scales in your favour during negotiations and even during a lawsuit.
5. Keep Communicating
Communication is one of the best ways to avoid conflict and misunderstanding. Keeping the other party/parties well informed can go a long way towards avoiding costly litigation.
6. Be Proactive
Try to take immediate steps when conflicts arise. The longer you ignore an issue, the more difficult it becomes to resolve it. Consult with a professional early.
7. Compromising Is Not A Bad Thing
You should always consider compromising to reach a settlement. There are many risks associated with litigation. Witnesses and judges can be unpredictable. The legal cost is almost always higher than what you expected at the beginning of the litigation.
Of course, there will be times when litigation is unavoidable. But litigation takes away your time, energy, and money from your daily life and/or business activities. Hopefully, these tips will assist you in avoiding litigation in the future.
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NOT LEGAL ADVICE. Information made available on the Queenstone Law website in any form is for information purposes only. It is not legal advice. You should not rely on, or take or fail to take any action, based upon this information. We would be pleased to discuss any specific legal concerns you may have.
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