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Business owners need to maximize efficiency, especially in regards to time and money. Litigation can derail both of these things. There are the potential costs associated with litigation, including attorneys’ fees, and often what proves more essential is the time associated with resolving any dispute, whether by settlement or judicial determination. Even if you win, you can never get back the time and effort that went into the case instead of your business.
A vastly superior way of spending your time and money is to prevent litigation.
Surround Yourself With Good People
Contrary to popular belief, a lawsuit usually doesn’t get initiated by a stranger. Depending on the type of business you run, you may not even come in contact with many. However, you are likely surrounded by employees, people you do business with, people who compete for business with, and maybe even suppliers or distributors.
Except for your competitors, you have a choice with whom you choose to hire and work with. Former and current employees are a significant source of litigation. Firm up your hiring process to ensure you hire people who share your values and the values put forth by your business.
Contracts Are A Safety Net
When you agree to terms with employees or outside businesses, put that into a written document. Should anyone default, you have a safety net. And that net is only as strong as the person who created it.
Seek out an attorney who has a history of writing contracts. Are there templates you can use as a quick solution? Yes. However, they are specifically general and broad because they are designed to be. A lack of detail allows for different interpretations, which can lead to arguments and even litigation.
There should be no doubt. A qualified attorney creates contracts based on your interests. And what is potentially even more important is that they balance out your interests with reason. The result is that you have an enforceable contract that protects you.
Understand Your Goals
If you have a dispute with an employee or a supplier, your goal is not to win the argument. You need to resolve the dispute quickly and efficiently. In addition to compromise being a reasonable solution, you can always pursue mediation. Mediation isn’t binding, and your attorney can still be present to advise you.
Drucker & Mattia PLLC
If you are a business owner with further questions regarding how to protect yourself against litigation, contact Drucker & Mattia, PLLC, to schedule a free consultation. We combine our large firm experience with a small firm feel. Drucker & Mattia provide the legal knowledge you need with the personalized solutions you deserve.
Drucker & Mattia PLLC
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