Best way to avoid Small Business Litigation

What is Litigation?

Litigation means “a dispute between two parties”. The disputes are generally in two categories; Criminal and Civil. In this brief article, I am referring to “Civil Disputes” arises because of transactions between the parties, commercial or non-commercial. The litigation comes when the parties are not able to resolve the disputes amicably.

Best way to avoid small business litigation is to:

• Written Agreements/Contracts.
• Being communicating regularly.
• Better to discuss relevant and prospective issues.
• Hold Meetings and keep Minutes of Meeting and get the same signed by all the Parties attending including the Owner/s to avoid any issues later.

Pre-Litigation Measures one can take:

• More care at the initial stages leads to latter stages being smooth and painless. Professional assistance committed to avoiding litigation can add value at each stage.
• Be very careful in choosing the parties with whom the business will be done.
• Spend time to find more about potential associate/partner.
• Start with some activities that build mutual understanding and confidence.
• Move into long-term or deeper involvement with caution.
• At each stage of the relationship, prepare clear documents that leave no room for misunderstanding.
• While in the relationship, take all possible care to avoid derailment.
• If things go wrong, try for the amicable resolution of problems.
• If amicable resolution not possible, try for exit by mutual consent.

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*Content of this post is a Copyright work and is owned by Adv. Lalit K Jain (THE LEGAL DESK)