Business disputes are an unfortunate fact of life. They can result from incorrect assumptions, business set-backs, miscommunication, pride, bullying or greed. Here are some things an experienced business court attorney can do to help you successfully settle your business dispute. As a business dispute begins to develop, you will likely see it coming from a distance. Generally, the sooner you reach out to your business court attorney, the more your attorney can do to assist you.
- Analyze the merits of your claim or defense. If you expect to reach a favorable settlement, you need to thoroughly understand the ins and outs of your case as soon in the process as possible. An experienced business court attorney can explain your business rights and the strong points of your case. The business court attorney can also deliver unpleasant news and point out your vulnerabilities.
- Analyze your strategic options. Along with advising you about the merits of your position, the experienced business court attorney can familiarize you with the process for litigating, mediating, or arbitrating your claim or defense. Together with your business court attorney, you can also evaluate self-help steps and other options for protecting your rights outside of the court system.
- Help you perfect your claim or defense. Some claims are not ready to be settled or litigated even though the business relationship has already deteriorated. As examples, some claims require a formal written demand. Some contracts require notice of breach and an opportunity to cure. To exercise certain shareholder rights, such as compelling a meeting of shareholders or inspecting a corporation’s books and records, you have to line up shareholders holding specific percentages of the company’s shares. Your business court attorney can make sure your ducks are in a row when you assert your rights.
- Show you are serious. Showing up with an experienced business court attorney demonstrates that you are committed to fight for your business. Showing your strength puts you in a better position to resolve your dispute.
- Document a clear and enforceable settlement agreement. When you and the other party come to an agreement to resolve your business dispute, you need to document that agreement in writing before the other party gets buyer’s remorse. You also need the written agreement to say what recourse you will have if the other party fails or refuses to perform its side of the settlement agreement.