How to manage your business disputes
Commercial Litigation and Business Dispute Solicitors: Dedicated to Startups & SMEs
Starting up a business and seeing it come together and grow is an exciting time. However, despite best intentions, something may go awry resulting in an issue or breakdown, whether between co-founders or with another business or industry professional.
Ultimately, some disputes are unavoidable. If you (or your business) become embroiled in a dispute or potential claim, there are some practical steps to take to best protect your interests or those of your business, which Margherita Barbagallo our Head of Commercial Litigation have highlighted below in this week’s newsletter.
1. Get Professional Legal Advice ASAP
You may have tried to resolve the dispute informally through emails, calls or meetings to no avail, or legal proceedings are already under way. It is vital to contact a business dispute solicitor from the get-go to obtain specialised advice on your legal position, the potential costs involved and the commercial implications of success or failure. Disputes run the risk of serious legal consequences and tailored advice in this regard should be assessed on a case-by-case basis (as opposed to following broad or unfettered advice available online).
2. Consider Alternative Dispute Resolution Methods (ADR)
ADR offers a less expensive and faster way to resolve disputes compared to court proceedings. Additionally, ADR methods are confidential with regard to the details of the dispute and any settlement reached (as opposed to court proceedings wherein certain documents are made publicly available). Common forms of ADR include negotiations with the other party or using a neutral third party to assist through mediation or arbitration.
It is best to have business litigation solicitors assist you throughout this process (despite it being less formal than court proceedings) to protect your position and avoid saying or agreeing to something that may later be used against you or your business.
3. Be Prepared to go to Court
If a resolution cannot be reached, going to court is a last resort option and something that our business dispute solicitors at Dragon Argent aim to prevent with our clients in so far as possible. Sometimes, however, there is simply no choice – the stakes are too high and both parties’ positions are too entrenched to avoid court proceedings.
4. Paper Trail Agreements and Communications
Maintaining a robust document retention policy is vitally important as evidence is critical in disputes. It is imperative to document what has been agreed by you or the business. Furthermore, a party to litigation has strict obligations to preserve all documents that might be relevant to the dispute. This obligation starts before court proceedings are formally issued – it starts from the point when litigation is reasonably being contemplated by the party.
How can Dragon Argent Help?
At Dragon Argent we have extensive experience in commercial litigation and dispute resolution. We can assist with a wide range of issues such as:
general business disputes;
shareholder and partnership disputes;
breach of contract claims (whether domestic or multijurisdictional transactions); or
intellectual property claims.
At Dragon Argent, our business litigation services can help resolve your dispute whilst trying to help you achieve the best commercial outcome for your business. With our breadth of experience, it is likely that we have advised on a similar situation in the past and will use tried and tested strategies for resolving the dispute as quickly and cost effectively as possible.
If you would like to discuss a business dispute or the risks and opportunities litigation presents, please schedule a discovery call with our commercial litigation specialist today.