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Avoiding Lawsuits in the first place
April 22, 2013
MyTechnologyLawyer
Web Edition
Litigation is one of the most risk intensive and expensive business propositions your company will ever undertake. While eliminating the risk of litigation all together is an unrealistic long-term objective for the successful business enterprise, there are some policies you can follow which will greatly minimize the risk.
SELECT RELATIONSHIPS CAREFULLY: Lawsuits are usually filed by people who have (or expect) an economic relationship with you. Controlling your exposure means selecting those relationships carefully. Conduct background checks. Evaluate candidates for litigation risk. Get to know your business partners as such before you initiate the relationship.
DOCUMENT THE EXPECTATION: Clarify the appropriate expectations in writing. While formal written agreements are ideal, memorandums, emails, letters and correspondence can also prove helpful in managing expectations to realistic levels. Statements of corporate policy in vendor employment and shareholder manuals can also be helpful.
LISTEN AND RESPOND: Listen to grievances with a productive mindset. Solve or isolate the issue before a claim is filed. Most people prefer to avoid litigation and are open to compromise.
These policies will not eliminate litigation. But they will greatly reduce the risk while also posturing you for victory if litigation erupts.
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