The United States Chamber Institute for Labor Reform notes that forty-three percent of small business proprietors have been threatened with a lawsuit or involved in one. It is your obligation as a business operator to do all that’s possible to minimize risk and keep the company functioning efficiently. But, in order to maintain business continuity, how do you minimize the risk of a lawsuit? Although no one can predict every possibility, there are some steps you may perform right now if your small business is sued.
Firstly, every small business owner should think about hiring a Las Vegas business attorney on retainer as they’ll help you stave off lawsuits and deal with those that may occur in the most cost-effective and least damaging way.
Your business can be sued for the following reasons:
- Suppliers or customers fear the business has broken a contract.
- The company’s financial status was misrepresented to the public, according to shareholders.
- Corporations and people accuse your company of infringing on their intellectual property ownership.
Be Prepared for the Suit if You are Sued
A legal demand letter that an individual could do or attorney frequently precedes a small business lawsuit.
A demand letter will normally include a demand that your company takes corrective action and the warning of a lawsuit. Still, a demand letter isn’t a lawsuit. Submit any demand letter to your Las Vegas Business Lawyers for analysis.
Your lawyer can assess the letter’s reliability and advise you on whether a response is necessary.
A legitimate lawsuit will be given in the form of a “formal complaint,” which is usually served by a process server but can sometimes be served by the sheriff.
It’s pointless to evade this person; they’ll find you someday.
Review and Open the Complaint
Should you face a lawsuit, it’s critical to analyze the case’s contents as soon as possible because you may only have a limited amount of time to reply.
Hearings can be scheduled in a matter of days or weeks.
Consult a Licensed Attorney for Legal Advice
Take the details of the lawsuit to your business attorneys in Las Vegas NV you can trust. If you don’t have one, ask your colleagues in the industry for a recommendation.
You will gain a better understanding of the legal context of your case if you discuss it with legal counsel.
When working with a Las Vegas business litigation attorney, it’s critical to be completely honest with them and give all pertinent facts. Don’t withhold information from your lawyer; it won’t help you.
Furthermore, do not destroy or attempt to conceal valid papers from the court system – this may be criminal.
Organize Yourself
Gather all the information you can about the individual or entity suing you, then give it to your Las Vegas business attorney at Dobberstein Law Group.
This material will be crucial to your legal defense because it will be pertinent to the case.
Notify Your Insurance Company if Sued
Depending on the circumstances, your insurance may offer legal representation and underwrite the judgment if the plaintiff prevails.
If your liability policy covers your business, the insurance company will normally provide and pay for an attorney to represent you.
If you have any questions about what your policy will and won’t cover when it comes to lawsuits, go to your insurance agent.
Think About Settling
Your Las Vegas Business Lawyers will advise you on whether or not settling the issue is the best approach to resolve it. If pursuing the case would cost you a lot of money in legal bills and maybe lead to a risky or costly decision, settling the lawsuit can make sense.
Settling may appear to be a form of surrender, yet it is often the most strategic and time-consuming alternative with the least monetary loss.
A Las Vegas business attorney from Dobberstein Law Group will assist you in weighing the benefits and drawbacks of a settlement agreement.