When business disputes arise, it is important to act quickly and with caution. If a dispute is not resolved in a timely manner, the situation may escalate and lead to litigation. Knowing when your business dispute is headed for litigation is key to avoiding costly legal battles down the road and being prepared for what’s to come.
Contact our Santa Fe business litigation attorney at Slate Stern Law if you are dealing with a business dispute and think it might be headed for litigation. Our attorney can help you explore your options for resolving your dispute in the most efficient manner possible.
Signs Your Business Dispute is Headed for Litigation
Litigation is often seen as a last resort when trying to resolve any type of business dispute because it can be expensive and time-consuming for both parties involved and can often cause lasting damage to relationships between them.
Fact: The cost of litigation for small businesses ranges from $3,000 to $150,000, according to a report by the Small Business Association Office of Advocacy.
However, if all other attempts at reaching an agreement fail, then it may be necessary in order to protect yourself from further harm or financial loss due to negligence or malicious intent from another party involved in the conflict.
Here are four signs that your business dispute may be headed for litigation.
- There has been a breakdown in communication. If communication between parties has ceased or become hostile, this could be an indication that litigation may be necessary to resolve the dispute. When one party refuses to communicate or threatens legal action, it can mean that they have reached an impasse and are ready to take their case to court.
- Negotiations have not produced meaningful results. If negotiations have stalled or failed altogether, this could signal that the parties involved are unwilling or unable to come to an agreement on their own. In such cases, pursuing a resolution through litigation may be the only option for settling the dispute and moving forward with business operations as usual.
- You have exhausted alternative dispute resolution methods. Alternative dispute resolution methods such as mediation, arbitration, and negotiation can often help settle disputes without going to court. However, if all of these options have been exhausted without finding a satisfactory solution, then it’s time to consider filing a lawsuit in order to protect your interests.
- Your lawyer says litigation is the most beneficial course of action. Consulting with a lawyer who specializes in business law can help you make informed decisions about how best to handle your business dispute. Your lawyer will be able to give you an objective assessment of your situation and provide advice on whether taking legal action is your best option at this time or if there are other avenues available for resolving the issue without going through the courts.
If any of these signs are present in your situation, you might want to hire an attorney as soon as possible (if you have not already). Taking your business dispute to court without legal representation is risky and not worth it.
Contact Slate Stern Law for Legal Guidance
Knowing these four signs of impending litigation can help you make more informed decisions about how to best handle your business disputes before they turn into expensive legal battles down the line.
If you think your business dispute is headed for litigation, contact our attorney at Slate Stern Law for legal guidance. Call (505) 814-1517 today to receive a case evaluation.