Another Company Has Spurned Us. Should We Sue?
Whether or not you should sue another company depends on several factors, how much damage have you incurred, if the company you intend to sue has sufficient money or property to satisfy a potential judgment, the impact on your current operations, (as part of this one should never underestimate the impact the distraction of litigation can have on your business) the risk that litigation will require you to disclose sensitive business information and trade secrets, and whether you risk exposure to a counter-claim. It’s a matter of balancing out the potential benefits against the cost and risks.
What Are The Situations Where A Lawsuit May Be Resolved Without Going To Trial?
The chances that a case will settle without actually having to go to trial are very high. Over 90% of civil cases are resolved without a trial. The parties may voluntarily settle a case privately between the parties and their lawyers or the case may be submitted to non-binding mediation. In mediation, the parties retain a neutral third party who guides the parties through discussion and a series of compromises, to settlement. A case may also be resolved by summary judgement. Summary Judgment involves the submission of a case to the court, without a jury, based only upon the briefs of the parties, supported by affidavits or other written evidence. The court may bring a case to conclusion in summary judgment if the uncontested facts lead the court to only one conclusion under the law.
What Are The Costs Associated With A Business Lawsuit?
The cost of a business lawsuit depends on the kind of a lawsuit you have and the willingness of the parties to litigate. Most lawyers cost anywhere from $250 to $600 an hour. Courtstatistics.org estimates the cost of litigation at between $54,000 for a standard liability suit up to $91,000 for a vanilla contract dispute. You are also going to have other costs for filing fees, depositions and if necessary, experts. The cost to litigate can be significant and the risk of loosing at trial may expose you to additional liability. The Bureau of Justice Statistics study, 2005, (the last date for which data is available) stated that the median judgment awarded for a contract case is $35,000.00.
When Is It Available In A Business Case?
Arbitration is available in almost any business case, if the parties agree. If the parties do not agree, arbitration may nevertheless be required by the terms of the contract between the parties. When dealing with larger entities, like banks or utility companies, they often have a provisions in their contracts requiring arbitration.
Do I Need An Attorney For An Arbitration Proceeding?
Arbitration, like the court system, is binding, with few exceptions, and in arbitration, you have rules. The parties have additional control over the process because the parties may have the option to write their own rules of evidence and rules of procedure. While arbitration may provide a forum with greater flexibility than the courthouse, that flexibility also brings with it additional uncertainty. An attorney with experience in litigation will give you the insight and skill necessary to ensure that the rules and procedures are conducive to a successful arbitration.
In the end, the arbitrator is going to make a decision and that decision is going to be final subject to limited review by the supervising court.
What Are Some Alternatives To Arbitration In Business Lawsuits?
Mediation is a good alternative to arbitration and it is an alternative that parties ought to consider early on in the litigation process, before they spend a lot of money on discovery. Mini-trials, an often overlooked but effective and efficient method for resolving disputes. The parties set up mini-trials by limiting the number of issues that can be decided by a private person acting, as a judge/arbitrator or the parties can agree to call in private members of the community to listen and determine the case. The alternatives for parties in business litigation are virtually unlimited, as long as the parties agree.
For more information on Litigation Of Business Lawsuits In Texas, a free initial consultation is your next best step. Get the information and legal answers you are seeking by calling (940) 440-5250 today.