Litigation is expensive. At best, it’s an unwanted entry on your business’s balance sheet. At worst, a lawsuit could mean going out of business— if the businesses assets must be liquidated to pay a judgment or if the businesses resources must be used for litigation expenses. The following are tips to avoid or limit the impact of litigation.

1. Keep good records.

Without good records, proving what was actually said or done by the parties to a lawsuit is a difficult, if not impossible, task. Further, good records can effectively destroy a factual dispute. Good records can result in a dismissal of the case or at least limit the case to issues of law, rather than factual issues, which…

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