Corporate Litigation Assumptions
For business leaders, the threat of legal liabilities and conflicts will be issues that they will have to face on a regular basis. To effectively help the business navigate these risks, the ownership and management team will need to have accurate information when it comes to corporate litigation.
Assumption: Business Litigation Attorneys Only Serve Large Corporations
Unfortunately, there are business leaders that may underestimate the risk that their business is facing when it comes to business litigation. In particular, these firms can find themselves in contractual disputes with suppliers, property management firms, and other businesses that they may have to interact with. These issues can arise for businesses of almost any size. As a result, small business owners should avoid assuming that they are unlikely to encounter significant corporate litigation challenges.
Assumption: Corporate Litigation Always Involves Lengthy Legal Proceedings
When a dispute arises between businesses, it can be in the interest of both parties to resolve the matter as quickly and equitably as possible. In some cases, this may not be possible, which can lead to the need for lengthy legal proceedings such as trials. However, it can also be possible for these disputes to be resolved through negotiations between the two parties. To this end, corporate litigation lawyers will typically attempt to resolve the dispute through these negotiations before initiating legal proceedings. During these negotiations, the attorney may take the lead in the discussions and interact with the other side in the dispute, but the client will ultimately be able to accept or reject proposed terms, as well as provide guidance for making counteroffers. Through these discussions, the dispute may be resolved more quickly and affordably for both parties that are involved in the matter.
Assumption: A Corporate Litigation Attorney Is Only Needed When Legal Action Is Imminent
A business leader may wait to retain a corporate litigation attorney until they are facing imminent legal action against their company. While this may seem like a reasonable strategy, it can lead to delays when it comes to finding an attorney to represent you in the case. Rather, it can be better to work with an attorney that is familiar with your business and the particular legal liabilities that it may face. To this end, retaining a corporate litigation law firm on retainer can ensure that you are able to quickly access legal counsel when your company is facing legal action.