Unfortunately, it may be necessary for a business owner to understand the basics of business litigation since legal disputes can arise from many sources.
Business litigation involves litigation and disputes arising out of commercial and business relationships, including establishment’s claims against another company, government entity, or groups of individuals.
Business disputes can include breach of contracts, breach of fiduciary duties, regulatory investigations, trade secret disputes, insurance disputes, disputes over nondisclosure or confidentiality or noncompete agreements, and issues between partners.
Business owners should know that taking a “wait and see” approach does not maximize potential leverage and ultimately may hurt your businesses chances of a successful resolution. Such individuals do not want to contemplate or confront dispute until a lawsuit is filed or demand for mediation or arbitration issued. It is always preferable to have legal counsel before the formal commencement of litigation.
The first step in dealing with a potential legal business dispute is hiring a legal advisor or attorney. An experienced attorney can provide immediate legal advice and direction about the investigation of the possible conflict and resolving that matter before litigation arises. You can discuss alternative fee arrangements with any potential legal advisor before hiring to coordinate with the budget.
Next, make sure your legal counsel has the facts relevant to the dispute and review the organization’s direction, procedures, and practices. This will allow counsel to identify all potential legal issues and come up with a dispute resolution plan.
Risk avoidance and litigation are facts in business. At Yoars Law, we look at the big picture to make sure that we understand our client’s businesses to achieve successful resolution of any potential dispute as efficiently as possible. Yoars Law has years of experience with business disputes and litigation in New York. We focus on being proactive business and legal advisors for our clients, guiding them through the complex legal issues as they arise and being zealot advocates when needed. We recognize the potentially high cost of discovery in commercial litigation and seek to use creative, cost-saving solutions that will maximize value to our clients without compromising excellence. We also provide transparent and predictable legal fees so our clients can consistently manage their budgets.