Spokane Commercial and Business Lawyer

How to be prepared for a business lawsuit

  • By:JP Diener

Business owners are forced to grapple with certain realities. Among those is the idea that lawsuits can happen when you least expect them. Businesses then must prepare for lawsuits just as they would any other contingency. They must have the financial resources or insurance in place to pay either for the pursuit of a plaintiff’s lawsuit or the defense of a claim against them. They must have a plan in place to choose the right lawyer or law firm. They must have a system to preserve and identity critical documents. Doing so can be the difference between success and failure in business. After all, the expensive nature of business lawsuits means they are an existential threat to a company’s livelihood. With this in mind, how should you ensure that you are prepared for a business lawsuit?

Keeping a “War Chest” of sorts

Smart businesses know that they have to put some money away for contingencies. While a company will not have a family’s emergency fund for the child’s dental work, they may need some money put aside to ensure that they can either pursue or defend a lawsuit. While a good Spokane commercial and business lawyer can be somewhat affordable, lawsuits cost money. It is imperative that you can take the correct action without having to worry about money. When a legal issue arises, your company’s life is on the line. Being prepared financially can allow you to make the right decision based on the merits rather than on financial constraints. Having insurance can help if you do not cash on hand for these events.

Have a good law firm in mind before a problem arises

The lawyers at Feltman Ewing can tell you that it is best to always conduct business in a way that avoids the risk of lawsuits altogether. Litigation can be time consuming and distracting. A skilled Spokane commercial and business lawyer can guide you through a legal minefield, but you would benefit from never stepping foot in that field in the first place. According to some statistics, nearly nine in every 10 American companies juggles multiple lawsuits at one time. While large corporations often cannot avoid this, smaller companies should keep a good lawyer on retainer to figure out how to avoid litigation where possible.

Have a system in place to protect documents and evidence

When Feltman Ewing handles cases, one of the most important things they can do is help you preserve and acquire the evidence needed to win your case or gain leverage over your opponent. You can help yourself if you can develop a system for keeping and organizing information. Lawsuits are invariably about paper and discovery. Do you have the records you need to show that the other company agreed to send over 100 shipments of some product? The better you can organize your information, the more success you will have.

Calling a good lawyer is critical when you find yourself in these situations. Feltman Ewing helps people in the Spokane area who have business disputes or potential business disputes. Calling them can significantly benefit you in your business trials.

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Posted in: Business Law