Business disputes can arise in any number of situations. Sometimes a commercial transaction doesn’t turn out the way the parties had hoped or other times businesses close because of disagreements amongst the owners.
Whatever the source of the dispute, you should always be mindful of the fact that you may have to eventually go to court and explain what happened and why you are right.
With that in mind, here are a few helpful tips for being prepared to litigate a business dispute.
3 Tips for Preparing for Business Dispute Litigation
1. Keep All of the Relevant Documents
You will first want to make sure that you have copies of all paperwork that supports your position in the dispute. Many times papers and other documents get lost and it makes it incredibly difficult to piece the story together after the fact. Keeping track of all of these papers beforehand can save you a lot of trouble down the line.
2. Start Putting Together Your Side of the Story
All disputes have multiple sides. To be able to litigate a dispute, you will have to be able to tell a judge or a jury your side of the story. Particularly with complex transactions, it is always good to fully consider your side of the story very early in the litigation process so you can effectively prepare your case.
3. Quantify Any Losses You May Have
This step is critical for anybody who is considering bringing a claim against another party for business losses. To win your case, you will have to show how the other parties’ actions have caused you damages. You should think through all of the different ways that you have been harmed by the other parties’ actions and what it would take for you to be made whole.