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Business litigation is an expensive use of both time and money and should be avoided whenever possible. Even the most favorable of settlements can cost a business months—if not years—of productivity and focus.

To help avoid the high costs of litigation, we recommend following these six preventive steps:

  1. Don’t skimp on contracts. Instead of spending a fortune on legal fees when facing a lawsuit in the future, make a smaller, smarter investment by using solid contracts and getting clear on agreements up front, in the present.
  2. Audit your insurance policies. Ensure that you have the breadth and depth of coverage your business needs to be protected. Consult with us to help you decipher how to protect your business best by using the right kinds and types of insurance so that if a lawsuit does happen, you are not footing the legal bill.
  3. Keep good records. Simply producing key documents can easily thwart expensive, time consuming lawsuits. Keeping excellent records now can help save money on future litigation.
  4.  Hire the right team members. Hire, train, and manage your staff with processes and procedures that mitigate the risk of future lawsuits.
  5. Be proactive. Small disputes can quickly turn into full-blown suits. Deal with minor disputes early to avoid a trip to court. Contact us at the first rumblings of a disgruntled client, vendor or partner.
  6. Only enter into “win-win” agreements. Commit to caring about the outcome for both parties, not just your own! We can help with that when we are working with you to strategize the documentation of your agreements.

Protecting your business and your time is a strategic and valuable practice. With careful preventative planning, you can help safeguard your business against unnecessary and costly litigation! At Kira Doyle Law, we can guide you in making the difficult decisions you face every day as a leader in your business, including how to safeguard your business against legal risks.

If you’re ready to take the next step toward preventative planning for your business, start by calling our office in St. Petersburg, Florida, at 727-537-6818, to schedule an appointment with one of our experienced Business Attorneys today!