You’ve had an issue arise with your business that you are struggling to resolve. Alternative dispute resolution methods are not working out the way you had hoped. This has you wondering if litigation is worth pursuing at this point. It may be, but it may not. Here are a few things business owners in Louisiana may want to think about before going down that road.
Is the cost of litigation worth it? Are you going to get enough out of it to make the expense make sense? If running a cost/benefit analysis on the situation shows litigation will cost more than any sum you’ll get in the end, it may be worth sticking with ADR methods to resolve the matter.
How strong is your case?
You may think you have a strong case, but do you? You may be too close to the situation to make that call. Legal counsel can review the details of your case and help you determine how strong your case is and if it is worth pursuing.
Want to keep things private?
If you don’t want the issue to go public, litigation may not be the best course of action. Again, it is all about considering the benefit. If the matter going public isn’t going to hurt your business, litigation may be worth it.
Possibility of collecting a potential judgment
Litigation is not worth it if the other party lacks the funds or assets to pay out any potential judgment that may come your way. Unfortunately, this happens. If you aren’t sure if the assets are there and the possibility to collect is high, legal counsel may be able to find out and help you decide if pursuing your case in court is to your benefit.
Business litigation is generally considered a last resort option. It is not always worth it. Of course, there are some cases where it is. If you aren’t sure if it is something you should pursue, ask questions. An experienced Louisiana-based business law attorney will be able to help you figure out the best way to resolve the matter. To learn more about this topic, please take a moment and visit our firm’s website.